Deutsche Bank AG’s Frankfurt headquarters were raided today as part of a new probe of fraud allegations related to lawsuits filed by the late Leo Kirch while the third top executive was put under investigation.
The offices of two German law firms that advised Deutsche Bank AG in lawsuits by the heirs of Leo Kirch, a former media group owner, were raided in a probe over the accuracy of testimony in one of the cases.
Ruth Kirch, the 87-year-old wife of the late Leo Kirch, took the initiative to reach the 928 million-euro ($1.28 billion) settlement with Deutsche Bank AG after at least three failed attempts in previous years, according to the agreement.
Deutsche Bank AG will pay about 925 million euros ($1.27 billion) to settle a 12-year-old dispute with the heirs of Leo Kirch over the collapse of his media group, according to two people familiar with the matter.
Deutsche Bank AG, Germany’s biggest bank, is close to settling litigation over the collapse of Leo Kirch’s media group for more than 900 million euros ($1.2 billion), according to a person with knowledge of the talks.
Deutsche Bank AG faces two separate court battles this week in its nine-year, 3.3 billion-euro ($4.5 billion) feud with Leo Kirch , highlighted by appearances by the lender’s former Chief Executive Officer Rolf Breuer and Kirch.