Ex-Deutsche Bank salesman receives suspended sentence for bribery

Gavel

Former Deutsche Bank salesman Shigeru Echigo received a 10-month suspended jail sentence in Tokyo for bribing a pension-fund executive to buy investment products.

Bloomberg News reports that the Tokyo District Court today sentenced Echigo, 37, to the prison term, which was suspended for three years. Prosecutors sought one-year imprisonment after the defendant admitted to the bribery charges at a court hearing in April.

Following a criminal investigation, prosecutors said Echigo spent about 900,000 yen ($8,800) entertaining a pension-fund executive on 15 occasions in 2012. Echigo argued that he was following the instructions of his managers and such conduct at the bank’s Japan brokerage unit was widespread.

Tokyo District Court Chief Judge Akira Ando said Echigo can’t be strongly blamed for the offenses because his bosses remained silent and failed to stop them. At the same time, his actions didn’t reflect institutional misconduct, Ando said.

To access the complete Bloomberg News article hit the link below:

Ex-Deutsche Bank Japan Salesman Gets Suspended Sentence

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