Deutsche Bank says hit by another US lawsuit

4th May 2011, Comments 0 comments

German giant Deutsche Bank said Wednesday it had been hit by another lawsuit in the United States over property loans, a day after the US Justice Department sued it for $1 billion for mortgage fraud.

The German bank said in a statement "the Los Angeles prosecutor has filed a lawsuit against the wrong person."

Deutsche Bank said that intermediaries such as loan servicers were contractually responsible for seized property.

© 2011 AFP

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