Mar 13, 2015
US takes on European banks in illicit money cases: Commerzbank of Germany agrees to pay $1.5b
US takes on European banks in illicit money cases: Commerzbank of Germany agrees to pay $1.5b
BERLIN: Pursuing a trail of illicit money from Geneva to Paris with stops in London, the United States authorities built a sweeping crackdown on some of Europe’s biggest banks.
On Thursday, that trail led to Commerzbank of Germany, which agreed to pay nearly $1.5 billion and dismiss some of its employees to resolve an array of charges in the United States. The case, the latest black eye for a…
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