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Last time, four years had passed between police raids of Deutsche Bank’s headquarters in Frankfurt’s financial district. This time, it only took four weeks.
Law enforcement officials on Tuesday morning entered the twin towers where Germany’s largest lender is headquartered, as well as the nearby premises of DWS Group, according to a statement from the prosecutor…. The raid involved about 50 people including staff from watchdog BaFin, one person said. It’s targeting as-yet-unidentified DWS staff and executives….
The latest raid comes about a month after Deutsche Bank’s headquarters were searched over suspicions that it was too late in reporting potential money laundering.
Speaking of things that are becoming customary, this particular round of sirens and flashing lights on the Taunusanlage marks yet another German investigation into a German company sparked by an American investigation in said German company.
The Frankfurt prosecutor said it started its investigation in January, triggered by reports on [former DWS sustainability chief Desiree] Fixler’s claims. It since found sufficient indications that “contrary to the statements in the sales prospectuses of DWS funds, ESG factors actually only played a role in a minority of investments.”
Deutsche Bank, DWS Raided Over Allegations of Greenwashing [Bloomberg via Yahoo!]
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