A lot of bad behavior at a lot of American banks has critics in the U.S. demanding more regulation — maybe on the European model?<\/p>\n
But it turns out our friends across the Atlantic can be pretty cynical, too.<\/p>\n
Der Spiegel (a German magazine) is reporting on a Deutsche Bank investment fund “designed to profit from premature deaths in the US…”<\/p>\n
The bank fund was basically built around the idea of buying up American life insurance policies, in the hope that the people insured would cash out permanently.<\/p>\n
Deutsche Bank collected some \u20ac500,000 ($750,000) from customers for its macabre money-making scheme. But the fund quickly turned into a mega-flop. So far, not one investor has received even a single dividend payment and some may lose their entire principal. <\/p>\n
Now, Strate has filed a criminal complaint with public prosecutors in Frankfurt on behalf of one of those who invested in the fund. A lawyer from Munich has also announced his intention of filing a complaint of his own, believed to be on behalf of dozens of clients. He is also preparing claims for damages.<\/p>\n<\/blockquote>\n