Deutsche Bank Offices Raided in Money Laundering Probe
Deutsche Bank’s offices in Frankfurt and Berlin were raided by officials as part of an extensive money laundering investigation. This inquiry, involving the Federal Criminal Police Office, aims to examine unknown individuals and employees at Germany’s largest bank.
Key Details of the Investigation
– The Office of the Federal Prosecutor has confirmed the investigation into Deutsche Bank’s past business relationships with foreign companies, suspected of being utilized for money laundering.
– A spokesperson for Deutsche Bank confirmed to the BBC that searches of its premises had occurred.
– Officials have not disclosed specifics regarding the identities of those involved at the bank or the foreign entities under scrutiny.
– The prosecutor’s office stated, No further information can be provided regarding the background of the business relationships, the transactions processed through Deutsche Bank AG, their scope, or the companies themselves.
Recent German media reports suggest potential links to Russian billionaire Roman Abramovich. In a statement, a legal representative for Abramovich emphasized, Our client is not aware of any investigations by the German authorities in this matter. They asserted that Abramovich has consistently acted in accordance with all relevant domestic and international laws, denying any allegations to the contrary.
– Abramovich faced sanctions by the UK government and the European Union in March 2022, following Russia’s full-scale invasion of Ukraine. He is alleged to have connections with Russian President Vladimir Putin, which he denies.
Impact on Deutsche Bank
Deutsche Bank is expected to release its full-year results on Thursday, a pivotal announcement now overshadowed by these investigations. Following the news of the raids, the bank’s shares closed nearly 2% lower on Wednesday.
This is not the first instance of Deutsche Bank facing scrutiny for alleged money laundering activities. In 2018, its Frankfurt headquarters and five other offices were raided as part of another operation involving around 170 police officials. That investigation focused on whether bank employees assisted clients in establishing offshore accounts to facilitate the transfer of money from criminal activities, specifically examining activities from 2013 to early 2018.
As the money laundering probe unfolds, Deutsche Bank continues to find itself entangled in serious legal challenges, marking a tumultuous chapter in its history.