Deutsche Bank Offices Searched In Client Securities Probe

HFA Padded
Mani
Published on
Updated on
Deutsche Bank

Deutsche Bank said its offices in Frankfurt were searched on Tuesday by German prosecutors in connection with a criminal tax-fraud probe. According to people familiar with the matter, the German prosecutors are focused on a type of dividend-arbitrage strategy known as “cum/ex” which was undertaken using dividend-paying German shares. Investigators probe serious tax fraud A Deutsche Bank spokesman, Christian Streckert, said prosecutors in Frankfurt conducted the raid, though no bank employee was accused of wrongdoing. A spokesman for the Frankfurt general prosecutor’s office, Alexander Badle, confirmed that raids were conducted. However, prosecutors haven’t brought forward any allegations against the bank’s…

This content is exclusively for paying members of Hedge Fund Alpha

Log In

Insider Strategies and Letters to Shareholders from the Top Hedge Funds and Maximize Your Portfolio Growth with Hedge Fund Alpha

Don’t have an account?

Subscribe now and get 7 days free!

HFA Padded

Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports