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Deutsche Bank Faces EU Parliament Grilling Over Legal Troubles

Deutsche Bank Faces EU Parliament Grilling Over Legal Troubles

(Bloomberg) -- Deutsche Bank AG faces more scrutiny over questionable financial flows -- this time in Brussels.

Police raids on the company’s offices and involvement in Danske Bank A/S’s $230 billion money-laundering scandal prompted the European Parliament to devote a special session to Deutsche Bank on Feb. 4. Stephan Wilken, the head of the bank’s anti-financial crime unit, is scheduled to appear alongside Jens Fuerhoff, an official at Germany’s financial regulator BaFin, according to a draft agenda for the hearing.

The hearing has been scheduled by the parliament’s special committee on financial crime, which was set up last year after a range of revelations on international tax evasion and money-laundering schemes.

Deutsche Bank Chief Executive Officer Christian Sewing said last week he’s launched a further internal investigation into the lender’s role as a correspondent bank for Danske, even though he hasn’t seen evidence of wrongdoing. The Federal Reserve is examining the company’s involvement in the case, according to people familiar with the matter.

To contact the reporter on this story: Alexander Weber in Brussels at aweber45@bloomberg.net

To contact the editors responsible for this story: Sree Vidya Bhaktavatsalam at sbhaktavatsa@bloomberg.net, Paul Armstrong, Marion Dakers

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