Deutsche Bank's offices in Frankfurt and Berlin have been raided by officials as part of an inquiry into money laundering. In a statement, the Office of the Federal Prosecutor said it was conducting an investigation involving the Federal Criminal Police Office into unknown individuals and employees at Germany's largest bank.
Deutsche Bank has maintained business relationships in the past with foreign companies suspected of being linked to money laundering. A bank spokesperson confirmed searches at its premises, although officials declined to comment further on specific individuals or companies being investigated.
The case potentially involves connections to Russian billionaire Roman Abramovich, who has denied any wrongdoing. Abramovich, sanctioned by the UK and the EU amid the Ukraine conflict, asserts he has always acted within the law.
The raids coincided with Deutsche Bank’s upcoming full-year results announcement, likely overshadowing the financial updates as the company's stock fell nearly 2%. This isn't the first instance of Deutsche Bank facing investigations; a significant raid occurred in 2018 concerning past money laundering activities.
Deutsche Bank has maintained business relationships in the past with foreign companies suspected of being linked to money laundering. A bank spokesperson confirmed searches at its premises, although officials declined to comment further on specific individuals or companies being investigated.
The case potentially involves connections to Russian billionaire Roman Abramovich, who has denied any wrongdoing. Abramovich, sanctioned by the UK and the EU amid the Ukraine conflict, asserts he has always acted within the law.
The raids coincided with Deutsche Bank’s upcoming full-year results announcement, likely overshadowing the financial updates as the company's stock fell nearly 2%. This isn't the first instance of Deutsche Bank facing investigations; a significant raid occurred in 2018 concerning past money laundering activities.
