Sven R., former head of private banking at Deutsche Bank’s Frankfurt branch, admitted to stealing more than 626,000 euros from 21 wealthy clients between late 2023 and spring 2025. The 39-year-old, who had been with the bank since 2008, used the bank’s internal transfer infrastructure to redirect funds to accounts held by family members, losing much of the money on speculative trades. Deutsche Bank reported net losses of approximately 493,000 euros after some transactions were reversed, immediately terminated Sven R. and compensated the affected clients. The fraud was uncovered during routine anti-money-laundering checks in 2025. Sven R. told the court he always intended to repay the clients.
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