Deutsche searched in money laundering probe over Panama Papers

FRANKFURT (Reuters) – Around 170 police officers, prosecutors and tax inspectors searched six Deutsche Bank offices in and around Frankfurt on Thursday over money laundering allegations, the Frankfurt public prosecutor’s office said in a statement.

Investigators are looking into the activities of two Deutsche Bank staff members who are alleged to have helped clients set up off-shore firms to launder money, the prosecutor’s office said.

Written and electronic business documents were seized from Deutsche Bank and further investigations are ongoing, the prosecutor’s office also said.

Deutsche Bank confirmed the search of its offices and said it was fully cooperating with the authorities.

The bank’s shares were down 2.7 percent by 0953 GMT.

The investigation was triggered after investigators reviewed so-called “Offshore-Leaks” and “Panama Papers”, the prosecutor said.

The Panama Papers, which consist of millions of documents from Panamanian law firm Mossack Fonseca, were leaked to the media in April 2016.

Several Banks, including Swedish

... read more at: https://kfgo.com/news/articles/2018/nov/29/investigators-search-deutsche-bank-offices-on-money-laundering-allegations/

by