Prosecutors in Germany have again invaded various German banks, asset managers and tax advisers in search of evidence of possible tax fraud by customers of a former Deutsche Bank unit. The raids took place in Frankfurt and a number of other German cities.
Raids were also made in a number of homes. Eight individuals are on the radar with the authorities. None of the suspects would be a Deutsche Bank employee. The suspects allegedly diverted money through offshore companies through certain constructions.
The research builds on the earlier revelations of the Panama Papers. These documents show, among other things, that Deutsche Bank has helped clients to set up doubtful accounts abroad. That would have contributed to money laundering. The raids now did not concern the companies.