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

... read more at: https://finance.yahoo.com/news/german-prosecutors-intensify-deutsche-bank-161752622.html