German prosecutors intensify Deutsche Bank client investigation – source

* Raids planned on people suspected of tax evasion -source

* Probe follows search of Deutsche Bank HQ last year

* Bank defends its record, cooperating with investigators

By John O’Donnell and Tom Sims

FRANKFURT, July 3 (Reuters) – German prosecutors are escalating a money laundering inquiry involving Deutsche Bank , including planned raids on wealthy former clients, a person with direct knowledge of the matter told Reuters.

Frankfurt’s state prosecutors will in the coming months search the homes of people who it suspects of using a company formerly owned by Germany’s biggest bank for tax evasion and money laundering, the person said.

The intensified scrutiny of Deutsche Bank, which has said it has

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