Tuesday, April 28, 2015
As of today, Jürgen Fitschen is put on trial. But not only her co-boss, but the German bank itself sits in the dock: Your entire management team should cheated justice for years and have bent the truth .
The diary of a German bank chief is always packed. But the coming weeks, Jürgen Fitschen is blocking it before. As of today, he has to appear on Tuesday at 9 clock 30 is Munich Regional Court until September 22, mostly. Not only Fitschen, the ex-board members Rolf Breuer, Tessenberg of Heydebreck and ex-chief overseer Clemens Börsig need as defendants in person in Room B273. And ex-German Bank chief Josef Ackermann has in court.
The Munich prosecutor accuses hinge plates and other top managers of having lied in court to multi-billion dollar claims for damages by the late media mogul Leo Kirch to block that had the German bank blamed in a long-running legal dispute for its bankruptcy. Especially serious case of attempted fraud trial that mean in legal language. The five men are threatening at worst ten years in prison.
But that alone does not do justice to the process. 627 pages, the indictment thick. The investigation files fill 143 folders. Almost a terabyte of data have evaluated the investigators. Long it’s not just a question of whether the top managers have lied in court. Negotiations on nothing less than the reputation of Deutsche Bank, which is difficult battered by countless scandals, processes and dirty business of the past. The process has the potential to pulverize their last credibility with customers, shareholders and the public good.
lies for profit?
For Fitschen is about everything. The method could cost him his job. That he dares to step in court at all, is courageous. The months-long process will bind his powers. And become a permanent burden on the bank, which for months now publicly struggling with her boss about their image. Many had therefore expected a deal with prosecutors. Or a resignation if it comes to the process.
But Fitschen decided fight out the case to court. He thinks he’s innocent. Maybe he has so even right: the Munich prosecutor accuses Fitschen as the only of the five accused of having not only corrects false statements in the parish process. This view is legally quite controversial. For indeed, are especially Fitschens predecessor responsible for ensuring that all investigators now make them the process
It all started with a legendary interview on February 4, 2002. “If you can read about and hear is so that the financial sector is [...] to provide additional debt or even own resources available not ready, “Breuer said Fitschens pre-predecessor at the top of the bank, then to Bloomberg TV on Kirch’s media empire. Just two months later, the church broke
Drama in court
In essence, now raging since the controversy over the question. Was the interview only a careless slip of the then German bank chief ? Or has deliberately ruined, so that the German bank can earn lucrative consulting contracts for the sale of its fluctuating Companies empire Breuer Kirch’s creditworthiness?
Breuer disagreed with the court in February 2011 as a witness. However, the judges had serious doubts it. And said the same day: Church could expect compensation from the Deutsche Bank because of immoral damage possibly. Because even on 29 January 2002, long before Breuer’s interview, the German Bank Executive Board shall have decided according to the matching media reports at its meeting, to seek an advisory mandate at church.
After the judge therefore hinted in February 2011 that they did not believe Breuer’s statement, the bank put everything in motion to change her mind. She passed in May 2011, a pleading with the court a in which they zurechtbog the processes that make them fit to Breuer’s testimony, prosecutors said. The blessed from even Fitschen by email. Then Ackermann, Börsig and Heydebreck assisted in May 2011, alleged in court Breuer false statement.
The truth twist
then Fitschen was in June 2011, is a member. He talked about the bush, probably to himself not to strain, but not reinzureiten his colleagues and the Bank: “He wanted to avoid making demonstrably false statements, but on the other hand, he did not want the defense strategy of the defendant by a clear description of torpedo, “prosecutors suspect.
Investigators were obviously pissed off. In November 2011, they searched for the first time the German bank. In this and still later raided numerous incriminating documents appeared. Simulation games for the destruction of the Kirch empire, for example, the dated long before Breuer’s interview. And lots of mails, notes and minutes that show, according to prosecutors, such as lawyers and law department of the bank Breuer, hinge plates, Ackermann and all other defendants in trial processes so that their statements were preparing to distort the truth in court.
Still, “took the accused Dr. Ackermann and hinge plates – this time board members of the Deutsche Bank – nothing to correct the wrong lecture,” the prosecutor’s office in their charge. The church-heirs paid the bank at the end of 925 million euros. So far they only cost a lot of money the debacle. As of today, it has the last chance to salvage something much more precious: their credibility