United States v. DB Group Services UK Limited and Deutsche Bank AG (DPA)

On April 23, 2015, DB Group Services (UK) Limited, a wholly owned subsidiary of Deutsche Bank AG (Deutsche Bank), was charged with and pleaded guilty before a magistrate judge to wire fraud for its role in manipulating the London Interbank Offered Rate (LIBOR), a leading benchmark interest rate used in financial products and transactions around the world. On the same day, Deutsche Bank entered into a DPA and admitted its role in manipulating LIBOR and participating in a price-fixing conspiracy in violation of the Sherman Act by rigging Yen LIBOR contributions with other banks.