Searches were conducted at Deutsche Bank's headquarters in Frankfurt — Deutsche Welle
On Wednesday, July 22, searches were conducted at the Frankfurt headquarters of Deutsche Bank. The bank itself confirmed the information.
According to preliminary reports, prosecutors are investigating the possible filing of fraudulent tax returns by the bank’s subsidiary, Postbank, between 2008 and 2010.
Deutsche Bank stated that the searches are being conducted as part of an investigation in which the bank is a third party, and assured that it is fully cooperating with the investigation.
The investigation concerns stock transactions on dividend payment dates. According to investigators, this practice—which became widespread during the 2007 financial crisis—was used to illegally obtain tax advantages.
This was reported by Deutsche Welle.
As a reminder, Deutsche Bank’s London division was fined 165,000 pounds for violating British sanctions against Russia.
Deutsche Bank admitted to violating EU sanctions involving Russian clients.
