Wednesday, 17 August 2011

Deutsche Bank Accused Of Mortgage Fraud By Feds

“The Justice Department accused German financial giant Deutsche Bank of duping a US government-backed mortgage insurance program -- and fleecing hardworking taxpayers out of hundreds of millions of dollars in the process. The hard-charging civil suit, brought by US Attorney Preet Bharara in Manhattan federal court yesterday, blasted Deutsche Bank and its mortgage subsidiary, MortgageIT, claiming they methodically selected mortgages they knew were toxic and bound to implode in a decade-long fraud.”

Deutsche Bank do seem to enjoy being close to line of morality.

Check out this article for an eye opener....

Note the reference to finding weaknesses to gain control of board members……

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