Published December 12, 2012
FRANKFURT, Germany – German prosecutors have searched offices belonging to Deutsche Bank AG, the country's biggest bank, as part of a tax evasion probe linked to its emissions trading business.
The Frankfurt prosecutors' office says 25 employees of the bank are suspected of serious tax evasion, money laundering and attempted obstruction of justice.
It says arrest warrants have been issued against five of the employees.
Prosecutors said 500 police officers swooped Wednesday on Deutsche Bank offices and private properties in Frankfurt, Berlin and Duesseldorf.
Deutsche Bank confirmed in a statement that the raid was linked to an ongoing investigation of its carbon emissions trading business. The bank said it was "cooperating fully" with authorities in the probe.