German prosecutors raided several Deutsche Bank offices in the Frankfurt area Thursday over suspicions of money laundering based on revelations from the 2016 “Panama Papers” data leak. Deutsche Bank confirmed the raids and said it was “fully cooperating” with the authorities. Deutsche Bank was among hundreds of financial institutions whose names cropped up in the media reports about the Panama Papers. The Frankfurt prosecutors said their probe was focusing on two Deutsche Bank employees aged 50 and 46, as well as “several” unnamed senior staff members. Shares in Deutsche Bank fell 2.7 percent to 8.36 euros by 1000 GMT, against a DAX blue-chip index up 0.6 percent.

Source: Egypt Independent November 29, 2018 10:18 UTC