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About 170 police, prosecutors and tax inspectors on Thursday raided six Deutsche Bank offices in Frankfurt and the region, Reuters reported on Thursday. The local prosecutor's office said in a statement that the reason was a suspicion of money laundering.
As mentioned, the investigators are involved in the activities of two Deutsche Bank employees who were supposed to help their clients set up companies in tax havens to launder money.
On Thursday, written and electronic banking documents were secured and will be the subject of further action. The prosecutor's office explained that the ongoing investigation resulted from a data leak, known more widely as the Offshore-Leaks and Panama Papers.
Representatives of Deutsche Bank confirmed that they had searched the offices, while stressing that they were cooperating fully with the investigators.
Reuters notes that in response to Thursday's stock of services, the bank's shares are down. Around 1 pm, the price drop exceeded 3.1%.
Panama Papers
In 2016, media around the world revealed a database of the Panamanian legal office Mossack Fonseca, specializing in the creation and management of front companies in tax havens. The International Consortium of Investigative Journalists (ICIJ) was involved in the investigation.
Data from the years 1977-2015 show that 140 politicians and personalities from around the world, including 12 current and former state and family leaders, or a circle of 60 other friends, have links to front companies used to circumvent tax regulations in their own country. .
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