INTERNATIONAL – Deutsche Bank AG’s offices including its headquarters in Frankfurt were being searched by prosecutors on Thursday in a money-laundering probe, prosecutors said in a statement.
Two bank employees, aged 50 and 46, were targeted as suspects in the case, according to the statement. Prosecutors said about 170 officials and police were involved in the raids.
In an emailed statement, Deutsche Bank confirmed that police are investigating at several German locations in relation to Panama Papers, and said it is fully cooperating with authorities.
Deutsche Bank shares fell as much as 4.7 percent on Xetra. They were down 3.2 percent at 8.32 euros (R129,36) at 10:40 a.m. in Frankfurt.
Deutsche Bank has spent more than $18 billion paying fines and settling legal disputes since the start of 2008, according to company disclosures compiled by Bloomberg News.