Last time, four years passed between police raids at Deutsche Bank headquarters in the Frankfurt financial district. This time it only lasted four weeks.
Law enforcement officers entered the twin towers where it has its largest creditor headquarters in Germany on Tuesday morning, as well as the nearby headquarters of the DWS Group, according to a statement from the prosecutor … The raid involved about 50 people, including staff from the body BaFin guard, said one person. Targeting unidentified DWS staff and directors …
The latest raid comes about a month after Deutsche Bank’s headquarters were searched on suspicion that it was too late to report a potential money laundering.
Speaking of things that are becoming commonplace, this series of sirens and flashing lights on Taunusanlage marks another German investigation into a German company, triggered by an American investigation into that German company.
The Frankfurt prosecutor said he started the investigation in January, triggered by reports about [former DWS sustainability chief Desiree] Fixler’s statements. Since then, it has found sufficient evidence that “unlike the statements in the sales prospectuses of DWS funds, ESG factors have in fact played only a role in a minority of investments”.
Deutsche Bank and DWS searched the allegations of environmental laundering [Bloomberg via Yahoo!]
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