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The German court ordered the search of five sites and the group's headquarters in Frankfurt. A massive operation: 170 police and civil servants were deployed as part of a money laundering investigation. An investigation launched last August after analysis of documents leaked in 2016.
Money laundering resulting from criminal offenses
Frankfurt District Attorney General Nadja Niesen explains that the analysis of the Panama Papers data has given rise to "suspicions" against Deutsche Bank. "She seems to have helped clients set up offshore companies in tax havens, and money would have been poured from these tax havens to Deutsche BanK without any suspicion of money laundering."
For the prosecutor's office, the offshore structures in question, not illegal in themselves, would have "laundered money from criminal offenses".
The investigations target two employees as well as a "number of managers".
The Group denies these accusations. "We have provided the authorities with all relevant information regarding the Panama Papers." explains Joerg Eigendorf, Head of Communications at Deutsche Bank. "We will of course continue to cooperate closely with the Frankfurt public prosecutor's office".
The Group in difficulty for ten years
In January 2017, the first German bank was fined nearly $ 630 million as part of a US and UK investigation into money laundering from Russia.
Last week again, Deutsche Bank was splashed by investigations into Danish bank Danske Bank, whose German bank was the correspondent for eight years.
The investigation adds to a long list of legal proceedings against Deutsche Bank, which has lost nearly half of its stock market value since the beginning of the year.
The title of the establishment Frankfurt left 2.11% Thursday at midday, having already lost nearly half of its value since the beginning of the year.
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