HSH Nordbank to press criminal charges against board member

HSH Nordbank will press criminal charges against Frank Roth, member of the Management Board, the German bank said on Friday. Roth is suspected of having provided third parties with strictly confidential information regarding the bank.

'There is - based on the information available to the Bank - ample initial suspicion that Frank Roth provided third parties with strictly confidential, internal strategy documents of HSH Nordbank,' HSH said. The unauthorized disclosure of business secrets is punishable under Article 404 of the German Stock Corporation Act.

The complaint of an offense, which is currently being prepared, will be immediately submitted to the Kiel public prosecutor's office.