Deutsche Bank Raided in Tax-Fraud Probe

Police arrest five employees at bank’s Frankfurt headquarters.

Deutsche Bank AG’s Frankfurt headquarters were searched by police and five employees arrested as part of a tax-fraud probe linked to the sale of carbon-emission certificates.

Prosecutors are probing 25 bank employees, Guenter Wittig, a spokesman for the Frankfurt General Prosecutor, said in an e-mailed statement today. Five of the staff were arrested over obstruction of justice and money laundering allegations, he said. He didn’t identify any suspects.

Tax Evasion

Six men linked to small trading companies were convicted of tax evasion by a Frankfurt court a year ago in a case tied to the sale of carbon-emission certificates to Deutsche Bank. The lender, which bought the securities, should have known they were designed to illegally evade value-added tax, Presiding Judge Martin Bach said at the time.

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