On Air Now

Tune in to Listen

99.9 FM Hibbing, MN

Weather

Current Conditions(Hibbing,MN 55746)

More Weather »
25° Feels Like: 16°
Wind: N 9 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Few Snow Showers 19°

Tomorrow

Cloudy 39°

Fri Night

Partly Cloudy 19°

Prosecutors may seek to fine Deutsche Bank in Kirch dispute: company

Juergen Fitschen, Co-CEO of Deutsche Bank AG speaks during a shareholders meeting in Frankfurt May 23, 2013. REUTERS/Ralph Orlowski
Juergen Fitschen, Co-CEO of Deutsche Bank AG speaks during a shareholders meeting in Frankfurt May 23, 2013. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - Prosecutors may seek to fine Germany's biggest lender Deutsche Bank if their suspicion is confirmed that Co-Chief Executive Juergen Fitschen gave misleading evidence in a dispute over the collapse of the Kirch media empire, Deutsche Bank said.

"The Public Prosecutors' Office Munich I has informed the bank that if this suspicion is confirmed a fine may also be imposed on the bank," a spokesman for the bank said on Wednesday.

German newspaper Sueddeutsche Zeitung earlier reported that prosecutors may seek to fine Deutsche Bank.

Earlier this week, Munich prosecutors named Fitschen as a suspect in the dispute, seeking to determine whether Fitschen gave misleading evidence in a decade-old civil suit brought by the heirs of late media mogul Leo Kirch, who accuse the bank of undermining the business.

Leo Kirch had claimed that, in 2002, then Deutsche Chief Executive Rolf Breuer triggered his German media group's downfall by questioning its creditworthiness in a television interview. The bank and its officers denied that.

(Reporting by Kathrin Jones; Editing by Richard Chang)

Comments