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World

German prosecutors raid premises linked to Maple Bank in tax evasion probe

Associated Press
Published | Updated

BERLIN – German authorities have searched premises linked to Maple Bank as part of a probe into alleged tax evasion and money laundering.

Maple Bank, based in Frankfurt, Germany, is part of Canada's Maple Financial Group.

Prosecutors in Frankfurt said Friday that almost 300 investigators took part in the raid on 30 private premises and offices across Germany on Wednesday.

Prosecutors said the probe focused on 11 unnamed individuals aged 44 to 70. They didn't name Maple Bank, but the company said in a statement that it "comprehensively supported the search operation and has pledged to cooperate further with the investigating authorities."

It added that "as a matter of principle, the bank does not comment publicly on questions of tax law and ongoing proceedings."