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Deutsche Bank feels shadow of Kirch case

November 5, 2013

By Chris Forrester

Juergen Fitschen, co-CEO of Deutsche Bank has been added to a list of former bank bosses being investigated over alleged irregularities in how Kirch Group was sold.

Munich prosecutors, in a statement confirmed by the bank, say that Fitschen he is being investigated over “suspicion that incorrect information was deliberately provided when giving evidence to bring about the dismissal” of an appeal filed by a Kirch Group unit.

Former bank executives Josef Ackermann, Rolf Breuer, Chairman Clemens Boersig and others are already under investigation.

Thomas Steinkraus-Koch, a spokesman for the Munich prosecutors, said on November 5th that the probe was now extended to Fitschen.

Leo Kirch, who died in 2011, was one of Europe’s biggest media operators and started his legal battle against Deutsche Bank in April 2002 following his company’s bankruptcy.

The bank was last year found partially liable and is in an appeal process.

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