Deutsche Bank and subsidiary MortgageIT have agreed to pay more than $202 million to settle a federal Qui Tam, also known as the Federal False Claims Act, case asserting mortgage fraud by the giant bank.
Just when Deutsche Bank probably thought the worst of its legal troubles (over the Libor scandal, sales of shoddy mortgage-backed securities, FX and precious metal rigging which collective resulted in tens of billions in legal fines) were behind it, the struggling German lender is being drawn deeper into the biggest money laundering scandal in European history.
Mortgage fraud like the pair’s flouting of rules designed to protect banks is rampant in China’s roaring property market, according to interviews with buyers, sellers and dozens of property.
Deutsche Bank. Response: Officials noted the bank has donated 370 properties to the city or local nonprofits and recently announced a program to offer zero down, low-interest fixed-rate mortgage.
It was the Friday before Christmas and Edson Mitchell, boss of Deutsche Bank’s London-based investment bank, was rushing home to see his family in Maine. By 5pm he was on the home stretch: his private.
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Szymoniak, who fell into foreclosure herself in 2009, researched her own mortgage documents and found massive fraud (for example, one document claimed that Deutsche Bank, listed as the owner of her mortgage, acquired ownership in October 2008, four months after they first filed for foreclosure).
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Ackermann is among former executives in talks with Deutsche Bank about a potential financial contribution, according to a person with knowledge of the matter, asking not to be identified as the talks.
· Burke’s law firm represented Trump’s businesses – including the same Chicago Trump Tower that secured funding from Deutsche Bank – for 12 years. With Deutsche Bank.
WASHINGTON –The Justice Department, along with federal partners, announced today a $7.2 billion settlement with Deutsche Bank resolving federal civil claims that Deutsche Bank misled investors in the packaging, securitization, marketing, sale and issuance of residential mortgage-backed securities (RMBS) between 2006 and 2007.
SHOCKER! Massive Charter Scandal Stretches from Ohio to Florida by Diane Ravitch The diane ravitch article discusses the myth of charter school superiority, citing “the idea that teachers are the most important factor determining student achievement” and that there is a relative consensus (that) teachers statistically account for around 10-20 percent of achievement outcomes.
Preventing fraud. Anti-fraud is a priority for AFC. Its framework includes a strategy to prevent, detect, and investigate fraud. investigation into internal and external fraud and attempted fraud is led by the Anti-Fraud and Investigations Team, which comprises experts at regional level and specific business divisions.