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Updated on: Wednesday, May 29, 2019, 04:23 AM IST

Panama Papers case: German police raid Deutsche Bank

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Frankfurt: German prosecutors raided several Deutsche Bank offices in the Frankfurt area on Thursday over suspicions of money laundering based on revelations from the 2016 “Panama Papers” data leak. The investigation centres on allegations that Germany’s biggest lender help­ed clients set up offshore companies in tax havens to “transfer money from criminal activities” to Deutsche Bank accounts, the Frankfurt prosecutor’s office said.

Some 170 police officers and investigators from the prosecutor’s office were searching six of the bank’s premises in and around the city, it added in a statement. Deutsche Bank confirmed the raids and said it was “fully cooperating” with the authorities. “The case is related to the Panama Papers,” it added.

Deutsche Bank was among hundreds of financial institutions whose names cropp­ed up in the media about the Panama Papers. The Frankfurt prosecutors said their probe was focussing on two Deutsche Bank employees aged 50 and 46, as well as “several” unnamed senior staff members.

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Published on: Friday, November 30, 2018, 12:37 AM IST
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