News from the Associated Press:
Top stories | U.S. | World | Business | Markets | Tech | Sports | Entertainment
Health
| Science | Politics | Strange news | Today in history

May 18, 4:58 AM EDT

Deutsche Bank chairman expects former execs to pay

AP Photo
AP Photo/Michael Probst

Latest News
Obama gets rock-star welcome in Berlin, praises Merkel

German parliament group scraps Turkey trip at last minute

The Latest: Security high in Berlin ahead of Obama visit

Germany detain 9 men, 4 tied to violent extremism

Germany: Committed to meeting NATO defense spending goals

Multimedia
Exhibit Honors Soviet Photographer
Interactive
Berlin Wall: 20 Years Later

FRANKFURT, Germany (AP) -- Deutsche Bank's board chairman is telling shareholders the bank is seeking "substantial" amounts of money from former executives who were in charge when the bank engaged in costly misconduct.

Paul Achleitner told shareholders at the annual meeting Thursday that the board is in advanced talks and expects that "there will be an outcome that secures a substantial financial contribution from those involved." He didn't name names.

Deutsche Bank has struggled to move past expensive misconduct cases from the past. It agreed to a $7.2 billion settlement with the U.S. Justice Department over its role in bonds backed by house mortgages in 2005-2007.

The bank has said it has suspended deferred compensation payouts to a number of former managers.

© 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

    ADVERTISEMENT 
    ADVERTISEMENT