About 70 investigators searched Deutsche Bank headquarters in Frankfurt am Main on Wednesday morning. The raid relates to investigations into Cum-Cum transactions at subsidiary Postbank.
The Düsseldorf public prosecutor is conducting the investigations into suspected tax evasion. Deutsche Bank confirmed the search and stated it is being searched as a third party while fully cooperating with the authorities.
According to Handelsblatt information, top managers are also affected. Business Insider and Welt first reported the action.
The bank is Germany’s largest financial institution. The raid took place on Wednesday morning.
