Deutsche Bank AG allegedly misled investors about anti-money-laundering deficiencies and didn’t “properly monitor” customers it considered “high risk,” such as Jeffrey Epstein, investors said in New Jersey federal district court.
The bank didn’t tell investors it hadn’t fixed disclosure control problems and wasn’t keeping an appropriate eye on clients like convicted sex offender Epstein and two other banks involved in past financial misconduct scandals, investors alleged Wednesday in the U.S. District Court for the District of New Jersey.
Adding Epstein as a client in 2013 “was a critical mistake and should never have happened,” Deutsche Bank said in a July ...