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ELON MUSK JUST GOT SOME VERY BAD NEWS ABOUT ONE OF THE BANKS HE USES FOR HIS SCAM

Deutsche Bank DOOM – Struggling bank could be told to sell its US business

DOOMED Deutsche Bank (Douche Bank) was dealt another blow to its future as its American business looked to be slipping through its fingers. 

Deutsche Bank in GermanyGETTY

Deutsche Bank is engaged in an ongoing dispute with the US Justice Department

The bank is engaged in an ongoing dispute with the US Justice Department which is likely to not just result in a huge fine but in the banking giant sacrificing its American business.

An insider told German media: “Before an agreement about the amount of the penalty can be made with the Americans, the bank has to sort out one or two other things” – not least its international business model. 

The banking source added: “Changes in the business model on the one hand and a fine on the other hand are often the condition for a settlement with the US government.”

Deutsche Bank headquartersGETTY

Deutsche is facing a £11.4billion fine over its American mortgage-backed securities business

Changes in the business model on the one hand and a fine on the other hand are often the condition for a settlement with the US government

Deutsche Bank source

It is widely understood the bank will be forced to give up part of its American investment banking, with further job cuts soon to be announced. It is still unclear when the bank will come to an agreement with US authorities. 

John Cryan, the bank’s CEO, is currently negotiating with the US Department of Justice on a fine for dodgy real estate transactions in the years leading up to the 2008 financial crisis. 

is facing a £11.4billion fine over its American mortgage-backed securities business which allegedly led to the US housing crisis in 2008 but it is now understood the bank is negotiating a lower sum. 

Deutsche Bank headquartersGETTY

Financial analysts said the revelation could prove to be the final nail in the coffin for the bank

The news came as the bank’s biggest backer, Qatar, pulled the plug on future equity. 

Financial analysts said the revelation could prove to be the final nail in the coffin for the bank which this week was accused of using stealth methods to woo investors.

The bank has repeatedly stated that it doesn’t need to raise fresh capital but the potential loss of its American business is just the latest in a string of bad news for the bank.

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