Police have
raided Deutsche Bank offices in several cities in search of evidence of tax
evasion and money laundering. The bank is said to be involved in tax fraud
related to Europe's carbon emissions trade.
Deutsche
Bank properties in Frankfurt, Berlin and Düsseldorf were raided by 500 police
on Wednesday, as 25 bank employees were suspected of tax fraud and money
laundering, the general prosecutor's office said.
Five people
were arrested for attempting to obstruct the criminal investigation, the office
added.
In 2010,
Germany's biggest private bank was already being investigated for participation
in an international tax fraud ring, which allegedly sold carbon emissions
through Deutsche Bank.
The ring
bought emissions permits overseas without paying sales tax, also known as
value-added tax, and then resold the permits among its members in Germany,
enabling them to tax returns illegally.
The raid on
Wednesday came as prosecutors suspect Deutsche Bank of hiding more evidence in
connection with the fraud.
In December
2011, a German court jailed six men - three Britons, two Germans and a
Frenchman - over the tax fraud estimated worth about 300 million euros ($390
million). At the time, the judge criticized Deutsche Bank for its role in the
crime.
uhe/dr (dapd, Reuters, AFP, dpa)
Deutsche
Bank co-CEOs Anshu Jain (right) and Juergen Fitschen
in Frankfurt on September
11, 2012 (AFP, Daniel Roland)
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