Deutsche Bank said it would “cooperate closely” with the prosecutors but added that it had “already provided the authorities with all the relevant information regarding Panama Papers.”
The Panama Papers scandal that erupted in 2016 with a massive data leak from Panamaian legal firm Mossack Fonseca exposed large-scale tax evasion, laying bare how the world’s wealthy and powerful stashed their assets in offshore businesses.
Deutsche Bank was among hundreds of financial institutions whose names cropped up in the media reports.
The Frankfurt prosecutors said their probe was focused on two Deutsche Bank employees aged 50 and 46, and that they were also looking at several unnamed senior staff members.
Based on information from the Panama Papers, the suspects are accused of “failing to report suspicions of money laundering” linked to offshore firms involved in tax fraud “even though there was sufficient evidence” to suggest illegal activity, prosecutors said
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