The middleman who admitted to paying bribes over trades he helped broker between Deutsche Bank (DB -1%) and a Dutch housing company said he was also getting commissions from other banks including Barclays (BCS -2.1%), Citigroup (C -1.1%), Societe Generale (OTCPK:SCGLF), and BNP Paribas (OTCQX:BNPQF), Bloomberg reports.
Deutsche Bank said it didn't know about the "secret arrangements" between First in Finance Alternatives and the Dutch company, Stichting Vestia, and that First in Finance seemed to be a legitimate intermediary.
The other banks aren't being accused of knowing that First in Finance was passing on fees to Vestia's treasury and control manager, Marcel De Vries.
Vestia almost collapsed after losing more than EUR 2B on derivatives that went bad, a "substantial part" of which came from trading with Deutsche Bank.
Vestia is suing, saying some of the derivative deals were "flawed" because of the bribes.
Deutsche Bank says "Vestia's allegations are without basis."
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