Deutsche Bank Chief Seeking To Settle Out of Court

Law360, New York (October 19, 2006, 12:00 AM EDT) -- The chief executive officer of Deutsche Bank is reportedly seeking a settlement in a trial he faces on allegations of improperly giving large severance payments to executives when he worked as a director of Mannesmann.

CEO Josef Ackermann is seeking an out-of-court deal that would involve a fine, rather than have the case go to trial and result in jail time.

Under German law, defendants can pay a fine to settle a case, although German prosecutors have indicated Ackermann won’t be allowed to get off so...
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