Last month, the German banking giant reached a $7.2 billion settlement in principle to resolve a US probe into its sale of toxic mortgage securities.
Deutsche Bank has agreed to pay $95 million to settle a US government lawsuit alleging that the group committed tax fraud for using “insolvent” shell companies to conceal significant tax liabilities from the Internal Revenue Service in 2000, according to media reports.
According to court documents filed earlier this week with the federal court in Manhattan, the Frankfurt-headquartered lender also admitted to attempting to slap the shell companies with the tax bill for its then-new stake in drug manufacturer Bristol-Myers Squibb.
The settlement resolves a lawsuit originally filed in December 2014 that sought to recoup more than $190 million in taxes, penalties and interest.
"The government, through this action and settlement, has made Deutsche Bank admit to its actions designed to avoid taxes," US attorney Preet Bharara in Manhattan said in a statement.
Deutsche Bank spokesperson Amanda Williams said in a statement: “We are pleased to resolve this claim and put these events from more than 16 years ago behind us.”
Last month, Deutsche Bank reached a $7.2 billion settlement in principle to resolve a US probe into its sale of toxic mortgage securities.