Senior Deutsche executives to escape espionage probe

SENIOR executives at Deutsche Bank are to escape investigation by German authorities into a spying scandal that saw the bank hire detectives to dig up information on a troublesome shareholder.<br /><br />The bank is facing a probe into privacy violations by Frankfurt prosecutors and financial regulator BaFin, and has already fired two executives over their alleged roles in the affair.<br /><br />But senior figures such as chairman of the supervisory board Clemen Boersig will not face prosecution, after investigators found no evidence of wrongdoing by anyone on the board.<br /><br />The investigation centres around shareholder Michael Bohndorf, whose Ibiza holiday home was rented by two detectives commissioned to spy on him by people at the bank.<br /><br />The shareholder attracted the attention of bank officials after he asked questions at a 2006 annual meeting about a dispute between the bank and German media magnate Leo Kirch.<br /><br />The espionage came to light following a report by law firm Cleary, Gottlieb, Steen &amp; Hamilton, which was hired by Deutsche to look into the allegations.