Police have raided Deutsche Bank offices in several cities in search of evidence of tax evasion and money laundering. The bank is said to be involved in tax fraud related to Europe's carbon emissions trade. Deutsche Bank properties in Frankfurt, Berlin and Düsseldorf were raided by 500 police on Wednesday, as 25 bank employees were suspected of tax fraud and money laundering, the general prosecutor's office said. Five people were arrested for attempting to obstruct the criminal investigation, the office added. In 2010, Germany's biggest private bank was already being investigated for participation in an international tax fraud ring, which allegedly sold carbon emissions through Deutsche Bank. The ring bought emissions permits overseas without paying sales tax, also known as value-added tax, and then resold the permits among its members in Germany, enabling them to tax returns illegally. The raid on Wednesday came as prosecutors suspect Deutsche Bank of hiding more evidence in connection with the fraud. In December 2011, a German court jailed six men - three Britons, two Germans and a Frenchman - over the tax fraud estimated worth about 300 million euros ($390 million). At the time, the judge criticized Deutsche Bank for its role in the crime.
GMT 14:08 2018 Friday ,14 December
Bank of Russia raises key rateGMT 13:23 2018 Thursday ,13 December
Philippine central bank holds overnight borrowing rate steadyGMT 11:33 2018 Tuesday ,11 December
Top EU court backs legality of ECB bond buyingGMT 20:46 2018 Wednesday ,05 December
World Bank funds water projects in North Kordofan StateGMT 15:06 2018 Friday ,30 November
Egypt, World Bank seek cooperation in solid waste recyclingGMT 12:21 2018 Wednesday ,28 November
BisB silver partner of World Islamic Banking ConferenceGMT 09:19 2018 Thursday ,22 November
AIIB Jin Liqun praises Suez Canal projectsGMT 15:05 2018 Friday ,16 November
World Bank Regional Vice President First Visit to West Bank and GazaMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor