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Deutsche Bank Says Co-CEO Fitschen Subject of CO2 Probe

Deutsche Bank AG co-Chief Executive Officer Juergen Fitschen and Stefan Krause, the firm’s chief financial officer, are subjects of a tax probe involving the sale of carbon-emission certificates that led to five arrests and police raids on the lender’s Frankfurt offices.

Fitschen and Krause’s approval of value-added tax statements for 2009 is being reviewed by prosecutors, Deutsche Bank said today in an e-mailed statement. Any errors in the document were corrected in a timely manner, the bank said. Prosecutors say the correction was too late, the lender said.