Former Bertelsmann SE Chief Executive Officer Thomas Middelhoff faces a criminal probe by German prosecutors over suspicions he gave false testimony about the demise of the late Leo Kirch’s media group.
Deutsche Bank AG co-Chief Executive Officer Juergen Fitschen, already facing a tax evasion case, was added to suspects in a probe of former bank executives’ testimony in a lawsuit filed by Leo Kirch’s media group.
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.
Businessman Leo Kirch hasn’t yet shown he incurred 2 billion euros ($2.8 billion) in damages as a result of his media group’s 2002 bankruptcy, which he claims was the result of comments on the company’s creditworthiness by Deutsche Bank AG ’s former Chief Executive Officer Rolf Breuer , an appeals court said.
Deutsche Bank AG rejected a 775 million-euro ($1.1 billion) settlement proposed last month by a Munich court that may have ended a nine-year dispute with Leo Kirch over the collapse of his media group, two people familiar with the case said.
Deutsche Bank AG Chief Executive Officer Josef Ackermann is scheduled to testify tomorrow to rebut judges’ preliminary view that the lender may have tried to pressure Leo Kirch to hire it to restructure his media group.