German authorities raided Deutsche Bank's headquarters in tax investigation.

German authorities raided Deutsche Bank's headquarters in tax investigation.

German authorities have raided Deutsche Bank’s headquarters in Frankfurt over suspected money laundering at the country’s largest lender.2 minute readOctober 19, 20221:11 AM GMT+11Last Updated 7 hours ago

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The headquarters of Germany's Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/Files

• Summary

• Companies

• Search extends to home of suspects - prosecutor's office

• Looking for emails and written correspondence

• Probe has ensnared many banks over years

BERLIN, Oct 18 (Reuters) - German prosecutors have searched the headquarters of Deutsche Bank (DBKGn.DE) in connection with an ongoing investigation of the multibillion-euro tax fraud scheme known as "cum-ex", Deutsche Bank said on Tuesday.

Germany's largest lender is one of many banks that prosecutors have raided in connection with the tax scheme that thrived more than a decade ago.

The public prosecutor's office in Cologne, without naming Deutsche Bank, confirmed it had conducted a raid on a bank and an auditing company in Frankfurt that involved more than 100 investigators, and extended to the homes of 10 suspects. #web3grandpappa https://www.reuters.com/business/german-prosecutors-search-deutsche-bank-hq-cum-ex-probe-2022-10-18/

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