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Morgan Stanley Raided in Frankfurt in Tax Fraud Investigation

  • Bank’s offices and homes of two suspects are being searched
  • Raid comes weeks after Barclays and Merrill Lynch targeted
Updated on

German prosecutors are carrying out a raid on the Frankfurt offices of Morgan Stanley as part of their wider probe into the controversial Cum-Ex scandal that robbed tax payers of billions of euros.

Authorities are searching a bank and the homes of two suspects in a probe over Cum-Ex and related strategies, according to a spokesman for Cologne prosecutors. More than 75 officers are taking part in the action, he said.