Thepayout comes at an untimely moment for Deutsche, which is embarkingon a radical cost-cutting overhaul that involves 18,000 job cuts andthe closure of its loss-making equities business. Deutsche Bank pays out £156m as it settles Vestia derivative case The Dutch group is to drop its legal case at the High Court after revealing on its website today that Duetsche Bank would financially settle the long-running row. LONDON, ENGLAND – SEPTEMBER 05: A general view of Deutsche Bank on September 5, 2011 in London, England. Shares at Deutsche Bank fell by nearly 9 per cent today after news emerged that it was one of several banks currently being examined by the Serious Fraud Office, to determine whether financial institutions fraudulently misrepresented asset backed securities deals to clients in the UK. (Photo by Dan Kitwood/Getty Images) Sebastian McCarthy More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Vestiahad accused Deutsche Bank of improperly selling interest ratederivatives. Friday 12 July 2019 3:06 pm Sixyears ago the affordable housing firm found itself in seriousfinancial trouble after making major losses on derivates it hadbought from investment banks including Deutsche Bank. Read more: Deutsche Bank – saved in the nick of time? whatsapp Read more: US Department of Justice probes Deutsche links with 1MDB Troubled Germanlender Deutsche Bank has paid out €175m(£156m) in a settlement with Holland’slargest public housing corporation, Vestia. It has also emerged this week that the German bank is reportedly being investigated by the US department of justice over whether it violated anti-money laundering laws in its work with the Maylasian state fund 1MDB. Share whatsapp According to the Wall Street Journal, US officials are understood to be probing the German lender over its ties with the 1MDB investment vehicle between the years of 2009 and 2015, when billions of dollars were looted and spent on items including luxury yachts and expensive pieces of art.