The Guardian reports Police in Germany have raided the offices of Deutsche Bank in connection with the Panama Papers revelations and as part of an investigation into alleged money laundering.
About 170 police officers, prosecutors and tax inspectors searched six Deutsche Bank officers in and around Frankfurt, the public prosecutor’s office said. Investigators are looking into the activities of two Deutsche Bank employees who allegedly helped clients to set up offshore companies to launder money, it added.
In a statement Deutsche Bank confirmed the raid. “The investigation has to do with the Panama Papers case. More details will be communicated as soon as these become known. We are cooperating fully with the authorities,” it said.
Earlier
Investigators have gone into the Frankfurt offices as part of a probe by the public prosecutors office into the rogue offshore finance industry.
Euronews reports that Deutsche Bank shares fell sharply after the news broke.
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