The 39-year-old former employee confessed in court and agreed to repay the money in monthly installments.
A former Deutsche Bank private-banking employee admitted in a Frankfurt court to siphoning about €626,000 from client accounts, Bloomberg reported.
The 39-year-old man, identified under German media law as Sven R., exploited internal transfer practices from late 2023 until he was caught in the spring of 2025. About half a dozen clients were targeted, with individual transfers ranging from €50,000 to €81,500, as well as smaller withdrawals of about €2,500.
He told the court that he used funds from other customers to cover losses after clients noticed missing money, and routed the stolen funds through accounts belonging to his mothers-in-law that he controlled while attempting to recover the money through derivative trades.
Deutsche Bank said it fired the employee, indemnified affected clients and strengthened its controls. Sven R. has agreed to repay the money in €250 monthly installments, and the court may consider a suspended sentence.
