"Public prosecutors searched Deutsche Bank offices today in connection with investigations that have been underway since the spring of 2010 against individuals suspected of tax evasion in the trading of CO2 emission certificates," Deutsche Bank said in the statement, adding that it was cooperating fully with the authorities.


Prosecutors said they were investigating 25 bank staff on suspicion of severe tax evasion, money laundering and obstruction of justice. Some 500 police and tax inspectors searched Deutsche Bank's headquarters as well as private residences in Berlin, Düsseldorf and Frankfurt. They also arrested five Deutsche Bank employees in the investigation linked to a tax scam involving the trading of carbon permits.

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