Bloomberg News

Deutsche Bank Headquarters Searched in Kirch Collapse Probe

December 20, 2012

Munich prosecutors searched Deutsche Bank AG (DBK) offices this week for evidence that former management board members gave false testimony in a civil suit tied to the 2002 demise of the late Leo Kirch’s media group.

Munich prosecutors overseeing the proceedings since 2011 searched the lender’s Frankfurt headquarters yesterday, Christian Streckert, a Deutsche Bank spokesman said by telephone. “The bank is still convinced that the allegations raised more than a year ago will be proven unfounded.”

Kirch, who died in July, had said Deutsche Bank secretly planned in 2002 to damage his reputation in an effort to exert pressure on him.

Deutsche Bank was found partially liable over the collapse of the media group and must pay damages, the Munich Higher Regional Court said Dec. 14. The court ruled the lender and former chief executive officer Rolf Breuer are liable for statements in 2002 before the Kirch group filed for bankruptcy. The late media magnate’s heirs are seeking as much as 2 billion euros ($2.7 billion).

To contact the reporter on this story: Annette Weisbach in Frankfurt at aweisbach1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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