Anshu Jain, an Indian-origin, is currently Deutsche Bank's co-chairman. The other co-chairman is Jurgen Fitschen.
British daily 'Financial Times' has reported that Deutsche Bank allegedly "failed" to recognise up to USD 12 billion of paper losses during the financial crisis, helping the bank avoid a government bailout.
In a statement, Deutsche Bank said the allegations of financial misstatements are "wholly unfounded".
The Financial Times report cited former bank employees' allegations in complaints to US regulators.
"The three complaints, made to regulators including the US Securities and Exchange Commission, claim that Deutsche misvalued a giant position in derivatives structures known as leveraged super senior trades, according to people familiar with the complaints," the daily said.
According to the report, all three alleged that if Deutsche had accounted properly for its positions