Department of Justice Lawsuit Claims Deutsche Bank Created 'Shell Companies' To Engage In US Tax Fraud

Germany's Deutsche Bank, already awash in lawsuits, can add another legal fight to its plate. The U.S. government on Monday said it is suing the Frankfurt bank for committing federal tax fraud, according to news reports. The Department of Justice lawsuit, which also names Wells Fargo, seeks more than $190 million in taxes, penalties and interest, U.S. Attorney Preet Bharara in Manhattan said. He accused Deutsche bank of creating an elaborate scheme in 1999 to avoid paying the bill on over $100 m...