(Corrects day of week in first and final paragraphs)
LONDON Dec 5 Three former Deutsche Bank
employees have filed complaints with the U.S.
securities regulators claiming the bank failed to recognize up
to $12 billion of unrealized losses during the financial crisis,
the Financial Times reported on Wednesday.
Complaints to regulators including the U.S. Securities and
Exchange Commission (SEC) said that Deutsche misvalued a large
position in derivatives structures known as leveraged super
senior trades, the newspaper reported, citing people familiar
with the submissions.
The report said this improper accounting allowed the bank to
misrepresent its capital position and avoid a government
"The allegations of financial misstatements, which are more
than two and one-half years old and were publicly reported in
June 2011, have been the subject of a careful and thorough
investigation, and they are wholly unfounded," Renee Calabro, a
spokeswoman at Deutsche Bank, told Reuters in an email.
She dismissed the report on Wednesday evening, saying that
all "valuations and financial reporting were proper".
(Reporting By Dasha Afanasieva; Editing by Stacey Joyce)