Legal
German Authorities Raid Homes, Banks In Nationwide Tax Evasion Probe - Media
The investigation is into possible hiding of capital gains in offshore companies.
German authorities have raided homes and banks across the nation
this week in a tax evasion probe that has started with Deutsche Bank but has
widened to other lenders, the New York Times and other
media reports said.
The raids targeted 11 financial offices in Bonn, Cologne,
Düsseldorf, Frankfurt and other cities, prosecutors said. The
affected banks were not named in reports.
The raids on Wednesday focused on eight individuals and included
searches of four tax advisors and six asset management companies.
The individuals are suspected of concealing capital gains from
the German tax authorities using companies in offshore havens and
with the help of a “major German bank in the British Virgin
Islands.”
“The investigations are not directed against Deutsche Bank. The
public prosecutor's office is investigating private individuals.
Deutsche Bank cooperates with the public prosecutor's office and
voluntarily submits all requested documents. A search of the
bank's business premises has therefore not taken place,” a
spokesperson for Deutsche Bank told WealthBriefing in an
emailed statement yesterday.
