Global law firm Freshfields Bruckhaus Deringer (‘Freshfields’) has successfully advised Deutsche Bank in the context of the criminal proceeding involving certain former DB employees for aiding and abetting certain Monte dei Paschi di Siena former employees in alleged false accounting and market manipulation. Deutsche Bank was charged for related administrative liability under law no. 231/2001 (regulating criminal liability of the corporate entities), and was claimed for compensation by, originally, almost 1500 civil claimants.

The Appeal Court of Milan acknowledged the validity of the defensive arguments and acquitted all defendants as well as Deutsche Bank, ruling that no criminal conduct had occurred and that no predicate offenses under law no. 231/2001 existed. The Court also cancelled the confiscation imposed on Deutsche Bank of EUR 64 million and the sanction of approximately EUR 3 million previously imposed. Italy’s Highest Court upheld now the judgment of the Court of Appeal of Milan. It constituted one of the most complex white collar crime litigation cases in the last years.

The Freshfields team, led by a team in Italy which has been advising the client for ten years, was led by partner Enrico Castellani, assisted by senior associate Claudia Ampolilla and by associate Federico Rampazzo, and all members of the Milan-based Dispute Resolution team.