
Deutsche Bank raided in money-laundering inquiry
Some 170 prosecutors, state police, national police and tax investigators were involved in the morning searches of six buildings in Frankfurt, and in nearby Eschborn and Gross-Umstadt, Niesen said.
Police cars were seen outside the tower blocks that house the headquarters of Germany's biggest bank.
Written and electronic business documents were seized from Deutsche Bank and further investigations are ongoing, it added.
The raid was reportedly spurred by information garnered from the Panama Papers - the 2015 document leak that revealed how wealthy global figures hide their riches via offshore bank accounts and shady shell companies.
Deutsche Bank shares slid sharply after the news broke, and were down 3.75 percent in midday trading in Frankfurt.
Deutsche Bank confirmed the raids and said it was "fully cooperating" with the authorities.
Deutsche Bank has also come under scrutiny over its activities as a correspondent for scandal-plagued Danske Bank, Denmark's largest lender.
There was no indication that Thursday's raid was linked to that scandal, though Deutsche Bank says that it has since stopped providing dollar transactions in some countries, including Latvia.
Whistleblower and former employee Howard Wilkinson has indicated that Danske Bank's management was aware of what was going on at the branch, which was among the bank's most profitable units.
And now it seems more allegations have been put against the banks.
Research activities of persons halted over gene-edited babies incident
He's announcement, which has not been verified, sparked an global outcry about the ethics and safety of such research. After the babies were born, the scientists tested their DNA to confirm the intended gene-editing occurred.
After that Deutsche said it had terminated its relationship with Danske in 2015 after "identifying suspicious activity".
Deutsche Bank has been sanctioned in the past for failing to tackle money laundering.
The news comes as Deutsche Bank tries to fix its tattered reputation after three years of losses and a drumbeat of financial and regulatory scandals.
Deutsche Bank has been under pressure after annual losses, and it agreed to pay a $7.2 billion settlement with USA authorities previous year over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis.
Under the scheme, clients illegally moved $10bn out of Russian Federation via shares bought and sold through the bank's Moscow, London and NY offices.
And it's not the first time Deutsche Bank has run into trouble over the flow of dirty money.
Pre-tax profits for the three months to September fell 45% to €506m compared with the same period past year.
Christian Sewing, appointed chief executive in April to help the bank rebuild, has trimmed its US operations and reshuffled its management board, but revenue has continued to slip.
However, investors have yet to be been won over by his efforts and Deutsche shares have halved this year.
Related news
-
Russian men barred from Ukraine
The peninsula existed as a semi-autonomous region of Ukraine, with political bonds to Kyiv but strong cultural ties to Moscow. However, the US President said there now will me an impromptu meeting as both leaders attend the G20 summit in Argentina.G20: Political and trade rifts threaten G20
Prime Minister Narendra Modi is the second most searched leader on the search engine after US President Donald Trump. British Prime Minister Theresa May is fifth on the list, with 3 per cent searches.Ivanka Trump Defends Using Private Email Account For Government Work
Pressed on this, his daughter clarified to ABC, "So lethal force, under any circumstance, would be the last resort". Numerous emails were in violation of public records rules, the paper reported . -
Trump Says He’s ‘Very Close to Doing Something’ on China Trade
Similar proposals were blasted by conservatives as proposals to "turn the United States into a agricultural colony of China ". He said Trump "gets along" with Putin, as he does with the leaders of a number of the G20 countries.Mourinho Explains Wild Celebration Of Late Manchester United Winner
He knows that the win takes the heat off United and him, but not much. In front of him, Rashford was frustrated to miss several chances.More Democrats threaten to withhold support for Pelosi's House Speaker role
She is scheduled to meet with the Problem Solvers on Tuesday. "The first step is showing that she cannot get to 218", said Ms. Another Democratic lawmaker who vowed not to support Nancy Pelosi for House speaker is softening his position. -
NASA selects 9 US companies to make lunar robotic payloads
Also, Russia plans to send a telescope to the dark side of the Moon to gather more data on that part of our natural satellite. The first missions could launch next year, as NASA only recently called for proposals for experiments to study the Moon .TMZ releases video of Kareem Hunt shoving, kicking woman
It should be noted that Hunt was also involved in a separate incident in June at a resort in OH where he allegedly punched a man. In 2014, former Baltimore Ravens running back Ray Rice was videotaped knocking out his then-fiancée in a hotel elevator.WA steer stands at nearly 2 metres and weighs 1.4 tonnes
While Knickers is undoubtedly larger than your average steer - a neutered male - the video images are somewhat misleading. HOLY COW - you seen the size of this moo moo?! "Knickers" is a Holstein-Friesian steer, which is a dairy breed of cattle. -
Ariana Grande's 'thank you, next' just broke YouTube
In the video, Grande recreates scenes from " Mean Girls ", " Bring It On ", " 13 Going on 30 " and " Legally Blonde ". Jonathan did get to hang with the "army trousers and flip-flops" girl though. better known as Stefanie Drummond .General Motors feels heat as president threatens subsidies
China now imposes a 40 percent tariff on USA automobiles, while the United States has a 27.5 percent tariff on Chinese vehicles. Kudlow, who met with Barra on Monday, said that Trump felt betrayed by GM, which the government had been trying to help.Melania Trump Stands By Her White House Christmas Decorations
Bolling also asked about Trump's campaign against cyber-bullying and how she oversees Barron's social media use as a parent.
Top Stories
Earthquake Causes Serious Damage in Alaska
Students dove under their desks and workers ran from buildings as a monster 7.0 quake violently rocked Anchorage Friday morning. He and many others ran outside, while others sheltered under desks in the conference room where the training was being held.
Priyanka Chopra marries Nick Jonas in three-day wedding spectacular in Rajasthan
If we zoom the photograph and take a close look at his mehendi , we can see " Om Priyankaya Namah Om" written over his palm. Prahlad further said, "As a woman, she always demands equality and that is why I respect her. 45 seconds of silence".
Saudi Crown Prince sidelined in G20 family photo
Saudi Arabia has repeatedly denied that Prince Mohammed knew about the murder or played any part in it. Turkey handed it to the United States, Saudi Arabia, the United Kingdom - all those who wanted.
Saudi Arabia seeks death penalty for 5 suspects in Khashoggi killing
Sources in the Prime Minister's Office (PMO) said, "In recent years, the Kingdom of Saudi Arabia has been a valuable partner". Central Intelligence Agency press secretary Timothy Barrett said that no one kept Haspel away from the briefing.
Fed minutes: Further hike "warranted soon", debate opened on pause
It promises to confirm investor expectations that the Fed will raise its interest rate when it meets later this month. Currently, the fed funds futures are pricing in an 83 percent chance of a December hike and one more in 2019.
WTI Crude Oil and Natural Gas Forecast
USA crude futures CLc1 had risen 20 cents, or 0.4 percent, to $50.49 per barrel by 0737 GMT. President Donald Trump stood behind Salman over the murder of Khashoggi.
Vladimir Putin And Saudi Crown Prince Pal Around At G20 Summit
In the audio, it is possible to make out the prince saying "Don't worry", to which Macron responds "I am worried". Putin is under fire, at least most recently, for the Russian seizure of Ukrainian ships and sailors.
Tiger Woods-Justin Thomas set for Round 1
Given his complete dominance " ended a 20-year wait for a hole-in-one last week while playing a practice round with Fred Couples . Hero MotoCorp chairman Pawan Munjal said, "Tiger is one of the greatest athletes in the history of sports.
GM to shut 5 crops in US, Canada
In October, GM offered buyouts to thousands of blue- and white-collar workers in an attempt to reduce payroll and other costs. Ford said along with shock and sadness, come feelings of anger and betrayal.
Apple Faces Supreme Court in App Store Monopoly Battle
Justice Elena Kagan said she believed she was buying directly from Apple when she used her credit card on an iPhone to buy an app. Software developers say that outcome would disrupt similar online marketplaces that operate between app creators and customers.