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November 04, 2013 AT 3:09 PM
German prosectors say, Deutsche Bank's Co-Chief Executive Juergen Fitschen has become a suspect in an ongoing legal dispute over the demise of the Kirch media empire. A spokesman for prosecutors in the southern German city of Munich said Fitschen was suspected of misleading a German court during the Kirch trial. Deutsche Bank confirmed the news and said the bank was "absolutely convinced" that the suspicions against Fitschen, whose contract was extended until 2017 just last week, would prove unfounded. Chris Wheeler is the banking analyst at Mediobanca.