Panama Papers Probe Leads To Police Raid On Deutsche Bank On Money Laundering Charges


A money-laundering probe stemming from the “Panama Papers” has led police to Deutsche Bank.

DW reports German Police Raid Deutsche Bank Over Suspected Money Laundering.

Federal police on Thursday raided the Frankfurt offices of Deutsche Bank. The Frankfurt prosecutor’s office said the raids stemmed from an investigation into suspected money laundering at the German bank.

Trending: Californians Learning The Hard Way That Solar Panels Don’t Work In Blackouts

About 170 law enforcement agents took part in the operation. The investigation revolves around multiple Deutsche Bank employees, including two believed to still be working at the financial institution.

take our poll - story continues below

Has Adam Schiff committed fraud and treason concerning the Trump probe?

  • Has Adam Schiff committed fraud and treason concerning the Trump probe?  

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to Freedom Outpost updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

According to prosecutors, Deutsche Bank is suspected of helping some 900 customers setup offshore shell companies in tax havens to “transfer money from criminal activities.” They said some €311 million ($354 million) is believed to have been laundered, citing information gleaned from the so-called “Panama Papers.”

The “Panama Papers” data leak comprised some 11.5 million documents and was leaked to German newspaper Süddeutsche Zeitung by an anonymous source in 2015. At least 28 German entitieswere identified in the leak, according to reports at the time, including Deutsche Bank.

In the past, Deutsche Bank has acknowledged that its anti-money laundering efforts have fallen short of financial rules. In August, it confirmed that even after it was fined for helping Russian clients wash some $10 billion (€8.8 billion), its mechanisms to stop such criminal activity were still inefficient.

Deutsche Bank Monthly Chart

Fines vs Market Cap

Its derivatives book is also a suspicious mess and it flunked a Fed stress test.

Passion to Perform!

Article posted with permission from Mish Shedlock

Don't forget to Like Freedom Outpost on Facebook and Twitter, and follow our friends at RepublicanLegion.com.

You Might Like
Previous Experts Shocked: New Home Sales Plunge 8.9 Percent
Next Ohio: Priest Who Impregnated Teen Convicted Of Sexual Battery - Gets 12 Years

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon to the right of the comment, and report it as spam. Thank you for partnering with us to maintain fruitful conversation.