German prosecutors drop money-laundering probe against Deutsche Bank managers

The logo of Deutsche Bank is pictured on a company's office in London
The logo of Deutsche Bank is pictured on a company's office in London

BERLIN (Reuters) - German prosecutors said on Tuesday they were dropping a money-laundering investigation against managers at Deutsche Bank <DBKGn.DE>, over its relations with Danske Bank's <DANSKE.CO> Estonian subsidiary, citing a lack of evidence.

The economic crimes unit at the Frankfurt Prosecutor's Office also fined Deutsche Bank 13.5 million euros ($15.9 million) for being slow to report suspected money laundering in more than 600 cases.

The case related to a whistleblower's claims that Danske had handled 200 billion euros in suspicious payments from Russia and other ex-Soviet republics between 2007 and 2015 - the bulk of which were processed by Deutsche Bank.

Deutsche Bank, which broke off its relationship with Danske in 2015, has consistently denied wrongdoing.

"With the end to proceedings, it is clear that there were no criminal lapses on the part of Deutsche Bank or its staff," board member Stefan Simon said in a statement.

The fine relates to delays in reporting suspicious transactions between 2010 and 2015 in connection with the so-called "Azerbaijani Laundromat", which allegedly sent money to Europe to influence politicians, prosecutors said.



(Reporting by Douglas Busvine; Editing by Maria Sheahan and Pravin Char)