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Deutsche Bank Raided in Laundering Probe Going Into 2018
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Updated on
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170 German officials involved in searches of bank offices
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Probe stems from Panama Papers, not role in Danske laundering
Deutsche Bank Headquarters Searched as Part of Panama Papers Probe
The activities at Deutsche Bank AG that prompted a police raid on its headquarters took place as recently as this year, according to authorities.
While money-laundering suspicions stem from the 2016 disclosures known as the Panama Papers, the investigation covers the five-year period from 2013 to 2018, a spokeswoman for Frankfurt prosecutors said. The main suspects in the probe, focused on a unit in the British Virgin Islands that processed 311 million euros ($354 million) in 2016 alone, were two bank employees identified by their ages -- 50 and 46. One works in the anti-financial crime office.
