Deutsche Bank’s head office and other locations in Frankfurt were raided by 170 police officers and tax investigators on Thursday as part of a money laundering probe.
Prosecutors said the raids targeted two Deutsche Bank employees, and others who have not yet been identified.
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The German bank is suspected of helping clients to set up offshore companies in tax havens, prosecutors said in a statement. Investigators are also looking at whether Deutsche Bank failed to report suspicious transactions.
Both the lender and prosecutors said the probe is related to the Panama Papers, a 2016 investigation into money laundering networks and shell companies set up by Panama-based
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