Deutsche Bank offices raided, links to Panama Papers
- 1 month ago
Deutsche Bank’s offices in Frankfurt have been raided by police officers, prosecutors and tax inspectors as a probe linked to a report from the Panama Papers scandal of 2016 arose suspicions that the German lender may have aided clients to create offshore tax havens.
In a statement Deutsche Bank confirmed that the authorities are investigating in numerous branches all over Germany.
Global Head of Communications for Deutsche Bank, Joerg Eigendorf said, “We thought that we had provided to the authorities all the relevant information regarding Panama Papers and of course we will now cooperate closely with the prosecutors here in Frankfurt. … As it is also in our interest to clarify the facts as soon as possible.”
With that bombshell, shares of the German bank fell by more than 3% in London and were down 3.7% premarket in the U.S.
Source: Smart Trend Team