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. According to court papers, Deutsche Bank bribed intermediaries to make deals in Saudi Arabia between 2009 and 2016, labeling the payments as “referral fees” for consultants. In one instance around 2012, the bank paid one of its fixers $1,087,538 “and caused those payments to be falsely recorded in the company’s books, records, and accounts,” the papers said. Other intermediaries demanded financing for a yacht and for a house in France as compensation, the papers said. The penalties against Deutsche Bank included a criminal fine of $85,186,206 and a payment of $43,329,622 …