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 is conducting an investigation, involving the Federal Criminal Police Office, into unknown individuals and employees at Germany's largest bank.
The prosecutors stated that Deutsche Bank had maintained business relationships in the past with foreign companies suspected of being used for money laundering purposes in ongoing investigations. A spokesperson for Deutsche Bank confirmed that searches had been carried out at its premises. Officials declined to comment on who, at the bank, or which foreign companies are being investigated.
According to reports, the investigation may be linked to Russian billionaire Roman Abramovich, although his legal representative stated that he is unaware of any investigations by German authorities. The representative emphasized that Abramovich has always complied with domestic and international laws and regulations, labeling any contrary suggestions as false and defamatory.
Abramovich was sanctioned by the UK and EU due to his ties to Russia following the invasion of Ukraine. The oligarch denies any connections to President Vladimir Putin. Deutsche Bank is due to announce its full-year results soon, a release that may be overshadowed by these recent raids. Following the news, the bank's shares fell nearly 2%. This isn't the first instance of Deutsche Bank's offices being searched; a similar incident occurred in 2018 concerning allegations of money laundering involving approximately 170 police officials. That investigation focused on whether bank staff had assisted clients in establishing offshore accounts for transferring money from criminal activities, particularly between 2013 and 2018.
The prosecutors stated that Deutsche Bank had maintained business relationships in the past with foreign companies suspected of being used for money laundering purposes in ongoing investigations. A spokesperson for Deutsche Bank confirmed that searches had been carried out at its premises. Officials declined to comment on who, at the bank, or which foreign companies are being investigated.
According to reports, the investigation may be linked to Russian billionaire Roman Abramovich, although his legal representative stated that he is unaware of any investigations by German authorities. The representative emphasized that Abramovich has always complied with domestic and international laws and regulations, labeling any contrary suggestions as false and defamatory.
Abramovich was sanctioned by the UK and EU due to his ties to Russia following the invasion of Ukraine. The oligarch denies any connections to President Vladimir Putin. Deutsche Bank is due to announce its full-year results soon, a release that may be overshadowed by these recent raids. Following the news, the bank's shares fell nearly 2%. This isn't the first instance of Deutsche Bank's offices being searched; a similar incident occurred in 2018 concerning allegations of money laundering involving approximately 170 police officials. That investigation focused on whether bank staff had assisted clients in establishing offshore accounts for transferring money from criminal activities, particularly between 2013 and 2018.
