The German lender doled out vintage wines and golf clubs, paid millions to connected consultants, and hired over 100 relatives of Chinese leaders.
Deutsche Bank showered China's elite with lavish gifts, hired their unqualified family members, and splurged millions on well-connected consultants to build its presence in the country, according to the New York Times. The German lender spent more than $200,0000 on decadent presents, hired more than 100 relatives of the Communist Party's leadership, and paid seven consultants more than $14 million to set up meetings and help it win business, the report found.
Deutsche Bank showered China's elite with lavish gifts, hired their unqualified family members, and splurged millions on well-connected consultants to build its presence in the country, according to the New York Times. The German lender spent more than $200,0000 on decadent presents, hired more than 100 relatives of the Communist Party's leadership, and paid seven consultants more than $14 million to set up meetings and help it win business, the report found.
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