Deutsche Bank directors to question board - sources

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Deutsche Bank directors to question board – sources

Deutsche Bank directors to question board – sources

I wonder if they are involving any activity from Bankers Trust after being acquired from Deutsche Bank?

As Matt Stoller said, “Things are getting worse for SEC Enforcement Chief and ex-Deutsche Bank exec Robert Khuzami. $12B cover-up? Eek.”

Reuters-

Deutsche Bank’s (DBKGn.DE) directors will question the management board over claims the lender failed to recognize billions of euros in unrealized losses during the financial crisis, two sources said.

The supervisory board, which has 20 independent directors “is seeking answers from management”, a person familiar with the body said on Friday.

Deutsche Bank has rejected the claims, which resurfaced this week, as unfounded.

The risk committee on the board of directors is set to discuss the matter when it holds a regular meeting before Christmas, another source close to the bank said.

The demand for clarification comes after law firm Labaton Sucharow LLP said Eric Ben-Artzi, a former quantitative risk analyst at Deutsche, used a whistleblower program to tell the U.S. Securities and Exchange Commission (SEC) the bank failed to report the value of its credit derivatives portfolio correctly from 2007 through 2010.

[REUTERS]

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