[Levin]

Wed, 23 August 2023 at 9:57 am SGT


By Low De Wei and Alfred Cang

(Bloomberg) — Deutsche Bank AG is a creditor to a Singapore company whose two directors were arrested for their roles in an alleged money laundering and forgery ring.

The bank has a charge that was registered on May 22 against Golden Eagle Assets Pte. The firm’s directors Zhang Ruijin and Lin Baoying, and eight others, were indicted in a Singapore court last week for money laundering and forgery involving assets worth over S$1 billion (US$738 million).

Deutsche Bank’s facility to Golden Eagle Assets is secured against “all monies” at the investment holding company, according to corporate filings reviewed by Bloomberg News, that didn’t specify the facility’s size. Golden Eagle Assets hasn’t been named in the criminal investigation.

......

Deutsche Bank is the latest lender to be embroiled in the scandal that raises questions about guardrails against illicit money flowing into the financial hub. The Chinese duo was charged for trying to cheat Malaysia’s CIMB Bank Bhd. about their ownership and sale of a property in Macau. Citigroup Inc.’s Singapore subsidiary allegedly received fake documents from other suspects.


https://sg.yahoo.com/finance/news/deutsc...24069.html

[Alice Alicia]

Look like a easy place to borrow money.

Going there now...


Deutsche Bank AG
Asia Pacific Head Office

One Raffles Quay
South Tower Level 17
Singapore 048583

[Wy:Nox]

Is this the bank that our Govt had to bail out or something similar years ago in return for hiring our locals? Maybe PaP should provide a report on how many locals vs Foreigners were hired in the past 6 years.

[grotesqueness]

Is this the bank that our Govt had to bail out or something similar years ago in return for hiring our locals? Maybe PaP should provide a report on how many locals vs Foreigners were hired in the past 6 years.