Compliance

Commerzbank Chief in Clear Over Money Laundering Charges

Stephen Harris 19 May 2006

Commerzbank Chief in Clear Over Money Laundering Charges

German prosecutors have dropped charges against Commerzbank’s chief executive officer Klaus-Peter Mueller after investigating whether he was...

German prosecutors have dropped charges against Commerzbank’s chief executive officer Klaus-Peter Mueller after investigating whether he was involved in a case of alleged Russian money laundering. Mr Mueller had been added to the investigation last August as prosecutors sought to examine the case as broadly as possible. Mueller has repeatedly protested his innocence. Prosecutors have been examining whether Russian telecommunications assets had been diverted from state businesses to a network of investment funds, dummy companies or secret accounts.

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