Deutsche Bank to Pay $130 Million to Avoid Bribery Charge

The moon shines next to the headquarters of the Deutsche Bank in Frankfurt, Germany, on Oct. 4, 2020. Michael Probst/AP Photo, File

NEW YORK—Deutsche Bank agreed Friday to pay fines and penalties of about $130 million to avoid a criminal prosecution on charges it participated in a foreign bribery scheme to win business in Saudi Arabia.

Lawyers for the bank waived its right to face an indictment on conspiracy charges during a teleconference with a federal judge in New York City.