"According to the German page of Wall Street Online, Deutsche Bank stock fell by 5.49% on February 4 after additional Epstein files detailing his criminal activities were made public. After the latest release of some 3 million documents, the United States Justice Department has said no more will be released. The convicted sex offender was in custody awaiting trial for further charges when he died in August 2019, officially by suicide."
"DW spoke about the case to philosopher Bernd Villhauer, a specialist in financial ethics at Germany's University of Tubingen. He said that he firmly believes that "banks have an obligation to monitor their business partners' circumstances," regardless of legal regulations and compliance guidelines. He argued that in this particular case, it would have been necessary "to be very careful about making contact with somebody such as Mr Epstein or to support his bus"
Jeffrey Epstein managed a large portion of his assets through about 40 accounts at Deutsche Bank, prompting severe reputational and financial consequences for the bank. Deutsche Bank shares fell 5.49% after additional Epstein files were released, and the US Justice Department said no further documents would be released after an earlier 3 million-document release. Epstein died in August 2019 while in custody awaiting trial, officially by suicide. The scandal produced resignations and investigations, and Deutsche Bank acknowledged accepting Epstein as a client in 2013 was a mistake. Ethical critics argue banks must monitor business partners and avoid risky associations.
Read at www.dw.com
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