A former head of subprime trading at Deutsche Bank AG will pay a $500,000 civil ...
FILE PHOTO: A general view of the Department of Justice building is seen ahead of the release of the Special Counsel Robert Mueller's report in Washington, U.S., April 18, 2019. REUTERS/Amr Alfiky
The U.S. Department of Justice on Thursday announced the settlement with Paul Mangione, who was also a former Deutsche Bank managing director, who did not admit wrongdoing. Settlement papers were filed with the federal court in Brooklyn, New York. More than half the loans were made by Deutsche Bank’s DB Home Lending unit, then known as Chapel Funding.
The charges were announced eight months after Deutsche Bank reached a $7.2 billion settlement, including a $3.1 billion civil fine, with the U.S. government, and admitted to misleading investors about RMBS it sold.
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