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Deutsche Bank to pay $150 million fine, says making Jeffrey Epstein a client was 'mistake'


Deutsche Bank will pay a $150 million fine from a New York regulator for allowing disgraced financier Jeffrey Epstein

NEW YORK/FRANKFURT (Reuters) - Deutsche Bank will pay a $150 million fine from a New York regulator for allowing disgraced financier Jeffrey Epstein to make payments to Russian models and withdraw suspicious amounts of cash during five years as a client.


Tuesday’s settlement with the New York State Department of Financial Services is the first such action against a bank related to Epstein. The registered sex offender committed suicide in a Manhattan jail in August, a month after his arrest for allegedly sexually exploiting dozens of girls and women.


The fine is also another blow to Deutsche Bank’s reputation as it goes through a major restructuring, following five years of losses totaling more than 15 billion euros ($17 billion).


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