Prosecutors in Cologne have raided the homes and offices of former owners and managers of Sal Oppenheim, the private bank acquired last year by Deutsche Bank, Bloomberg reports.

The authorities are quoted as saying in a statement that the raids are part of a probe against former executives, which focuses on allegations of breach of trust.

Sal Oppenheim put itself on the market in 2009 after filing its first loss since World War II in 2008. Deutsche Bank bought it for its wealth management business.