German tax police and prosecutors have raided Deutsche Bank's headquarters in Frankfurt, searching for evidence of questionable equity trades dating back to the bank's Postbank days.
The operation, which began Tuesday morning, centers on a scheme internally known as 'Operation Riesling' at the time.
Investigators are reportedly seeking to establish a tax damage of €375 million linked to these historical transactions.
Investigators are reportedly seeking to establish a tax damage of €375 million linked to these historical transactions.
The raid marks a significant escalation in scrutiny of the lender's legacy business lines.
While Deutsche Bank has spent years restructuring and cleaning up its balance sheet, this intervention suggests that regulatory and criminal authorities are still actively pursuing alleged misconduct from the pre-merger era.
The involvement of both the public prosecutor's office and the tax police (Steuerfahndung) indicates a coordinated effort to uncover potential fraud and tax evasion.