Thursday, December 13, 2012

Deutsche Bank raided again for CO2 trading fraud, armed police stationed in lobby as 500 conduct search of premises

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12/13/12, "Four Deutsche Bank employees jailed on Thursday," Reuters

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12/12/12, "Deutsche Bank co-CEO drawn into C02 tax evasion probe," Reuters

"Around 500 police and tax inspectors raided Deutsche Bank, arresting five staff in a probe linked to a tax scam involving the trading of carbon permits.

Tax inspectors clutching backpacks and suitcases were seen leaving the bank's twin-tower headquarters in Frankfurt. About 20 police mini buses and two coaches were parked outside.

The raids mark a setback for Deutsche's efforts to polish its image. The bank is struggling with lawsuits in the United States and the UK connected to allegations of Libor manipulation and the mis-selling of subprime assets during the 2007-2009 financial crisis.

ARMED POLICE

Eight policemen wearing dark blue overalls and armed with handguns were stationed in the bank's lobby and appeared to be coordinating a high-profile search of the glass towers which can house up to 3,000 staff.

The officers declined to comment on the exact nature of the raids, which a person working in the building said started at 0915 CET (8:15 a.m. British time)."...via Tom Nelson

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