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Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Global Contagion Report: Deutsche Bank AG

Country: Japan

Company Involved: Deutsche Bank AG

Industry: Banking and securities

Individuals: Shigeru Echigo, a director of Deutsche Securities Inc. and a former Mitsui pension executive, Yutaka Tsurisawa

Enforcement Action: Arrests


Shigeru Echigo, 36, a director of Deutsche Bank AG’s Japanese brokerage unit and its pension solution sales department was arrested Thursday on suspicion of bribery. He allegedly spent nearly $9,000 entertaining a former Mitsui pension executive with trips abroad, rounds of golf, and wine and meals from April to August 2012, according to Japanese police. Deutsche Bank spent a total of 6.3 million yen ($62,000) entertaining clients on about 100 occasions from 2010 to 2012, authorities said.

Former Mitsui pension executive Yutaka Tsurisawa, 60, was also arrested. Tsurisawa bought nearly $10 million of financial products from Deutsche Bank for the pension fund.

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