18:12 GMT 23.09.2015Get short URL 154 A number of representatives of the financial institution were earlier accused of money laundering activities amounting to $6 billion. After 134 years in the Russian market, Deutsche Bank confirms leaving its investment banking business in Moscow. © AP Photo / Michael Probst In early summer 2015, the bank’s officials were accused of being involved in money laundering activities. The allegations concerned bankers who allegedly laundered about $6 billion from 2011 to 2015 on behalf of its Russian clients. According to Deutsche Bank’s statement, the closure of its office is primarily connected with the sanctions, investigations into share trades and the economic slowdown in Russia. The financial business in Russia became less lucrative due to economic sanctions imposed by the West and following recession, media reported.
Deutsche Bank has now confirmed that it is to close its investment banking operations in 2019 , as we announced on September 18 , following allegations of bankers laundering around $ 5000 from 2011 to 2015 on behalf of its Russian clients . investment Bank states that the reasons for the move are due to sanctions , investigations into share trades and Russia 's economic collapse .