Deutsche Bank’s head office and other locations in Frankfurt were raided by 170 police officers and tax investigators on Thursday as part of a money laundering probe.
Prosecutors said the raids targeted two Deutsche Bank employees, and others who have not yet been identified.
Deutsche Bank is one of the many western financial institutions that processed at least $20bn money of “criminal origin” from Russia.
The scheme, dubbed “the Global Laundromat”, ran from 2010 to 2014.
Law enforcement agencies are investigating how a group of politically well-connected Russians were able to use UK-registered companies to launder billions of dollars in cash. The companies made fictitious loans to each other, underwritten by Russian businesses.
The German bank is suspected of helping clients to set up offshore companies in tax havens, prosecutors said in a statement. Investigators are also looking at whether Deutsche Bank failed to report suspicious transactions.
Both the lender and prosecutors said the probe is related to the Panama Papers, a 2016 investigation into money laundering networks and shell companies set up by Panama-based law firm Mossack Fonseca.
the Guardian can revealed that Donald Trump, Kushner, the Russian mafia, Putin (same as Russian mafia), and his oligarchs all were allegedly moved money through Deutsche bank.
The German bank was said to have loaned $300m (£260m) to Donald Trump.
We will bring you the subsequent report when the details unfold.