BERLIN - An Italian judge has convicted Deutsche
Bank of fraud, as the bank struggles to save its reputation amid widening probes
over tax evasion and rate-fixing after the departure of its former CEO Josef
Ackermann.

The case is only the first in a series of similar complaints: around 600
Italian municipalities had bought such derivatives and lost about €4 billion
during the financial crisis, according to the Italian central bank.
In parallel, Deutsche Bank is part of a worldwide investigation for altering
the British benchmark interest rate (Libor) and its euro-counterpart (Euribor).
Once the European Central Bank takes over the supervision of eurozone's largest
banks, Deutsche Bank will fall under the new scrutiny.
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