Sven R., a 39-year-old former head of private banking at Deutsche Bank’s main Frankfurt branch, admitted in court on Aug. 25 to aggravated breach of trust after prosecutors said he stole more than €626,000 from affluent clients in 21 transactions. The scheme ran from late 2023 until spring 2025 and involved redirecting funds through the bank’s internal transfer systems into accounts including those held by family members. Deutsche Bank’s net loss was approximately €493,000 after reversals and recoveries, and the bank compensated the affected customers. Routine anti-money-laundering checks exposed the fraud, prompting the employee’s dismissal and tighter controls. The case adds to the challenges facing Deutsche Bank as it rebuilds its reputation while expanding wealth management.