Deutsche Bank must have known of bribes, claims recipient
London — Deutsche Bank “must have known” that fees it was paying for deals with the Dutch housing firm Stichting Vestia were being used for bribes, according to the man who received those fees — and has since confessed to bribery. Arjan Greeven, a middleman who helped arrange trades between the bank and Vestia, an affordable-housing provider, testified on Wednesday at a London trial where Vestia is suing Deutsche Bank in a bid to recoup some of the money it lost on derivatives trades. The bank agreed to pay Greeven a fee every time it entered into a trade with Vestia, he said, and he shared those fees with Vestia’s treasury and control manager, Marcel De Vries. Greeven has confessed to bribing De Vries, who was in charge of Vestia’s derivatives trading, and the two were convicted of bribery in the Netherlands in 2018. Both are appealing.
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