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Congressional Leaders Urged to Support Harsher Sanctions Against Felon Deutsche Bank
Corporate Campaign, Inc. Director Ray Rogers urges legislators to support much harsher sanctions against Deutsche Bank for continuing to operate like a criminal enterprise
Rogers letter spotlighted a recently launched website, http://StopEstateFraud.org, which highlights Deutsche Bank's years of continuing corrupt activity, felony convictions and ongoing criminal charges and investigations. "U.S. citizens and and sectors of our economy will remain in peril if Deutsche Bank's lawlessness and unbridled greed goes unchecked," Rogers stated.
Rogers called upon members of the Congressional Banking Committees to oppose further exemptions from the Department of Labor that permit the bank to maintain its status as a qualified professional asset manager (QPAM) of ERISA funds. "Preventing Deutsche Bank from managing billions of dollars of Americans' retirement funds will serve to protect pensioners and will serve as a strong deterrent to stop other financial institutions from committing the kinds of large-scale fraud that have become part of a decades long culture in Deutsche Bank," Rogers said.
Rogers also urged that the Justice Department investigate Deutsche Bank over charges of embezzlement and other breaches of its fiduciary responsibilities in the administration of estates and trusts as charged in the case of Dobbs Ferry, NY widow Suzanne McCormick which is spotlighted on StopEstateFraud.org.
Following its recent convictions of stock manipulation in Korea and rigging LIBOR rates, Deutsche Bank is now facing more criminal charges and investigations including gold and silver price rigging, worldwide bond price rigging and vast schemes of money laundering. For these reasons Rogers said "Deutsche Bank also should not be allowed to hold significant equity in casinos having unrestricted gambling licenses, or serve as a trustee for mortgage backed trusts and the auctioning of foreclosed residential properties because it is a felon and thus is barred from serving in any fiduciary capacity."
Read Ray Rogers' June 1, 2016 Letter to members of the U.S. Senate Committee on Banking, Housing and Urban Affairs and the U.S. House Financial Services Committee:
Corporate Campaign, Inc. is headed by noted organizer, labor and human rights advocate Ray Rogers. Rogers pioneered the multi-dimensional strategy and organizing tactics called a Corporate Campaign which has been used with success by labor unions, environmental groups and other advocates of social and economic justice. Rogers led campaigns have resulted in numerous resignations from the boards of banks and other corporations.
Time magazine said, "Rogers has brought some of the most powerful corporations to their knees and his ideas are spreading." Boston Herald described Rogers as labor's most innovative strategist and "one of the most successful union organizers since the CIO sit-down strikes of the 1930s." Business Week described Rogers as a "legendary union activist." Financial Times called Rogers "The Coca-Cola Company's fiercest foe."
Corporate Campaign, Inc.