German Federal Police Search Deutsche Bank Offices in Money Laundering Probe
German federal police searched Deutsche Bank offices in Frankfurt and Berlin on Wednesday. The investigation into alleged money laundering hit the share price.
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German federal police conducted searches at Deutsche Bank AG locations in Frankfurt and Berlin on Wednesday as part of an investigation into money laundering. Frankfurt prosecutors confirmed the police action, which targeted Germany 
DE's largest lender during the morning hours. The searches come as authorities investigate as-yet unnamed individuals and employees of Deutsche Bank AG.
DE's largest lender during the morning hours. The searches come as authorities investigate as-yet unnamed individuals and employees of Deutsche Bank AG.According to the public prosecutors' office, the investigation stems from past business relationships where Deutsche Bank AGmaintained ties with foreign companies. These foreign entities were later suspected of being used for money laundering purposes during subsequent investigations. Prosecutors noted they could not provide further comment on the specific background of these relationships, the transactions processed through Deutsche Bank AG, their scope, or the specific companies involved.
