German Police Raid Deutsche Bank in Money Laundering Investigation Involving Russian Oligarch

In a significant development in the ongoing scrutiny of financial practices, German police have conducted raids on the offices of Deutsche Bank in Frankfurt and Berlin. The investigation is centered around allegations of money laundering involving the controversial Russian oligarch Roman Abramovich. This high-profile operation comes just one day prior to Deutsche Bank's presentation of its 2025 balance sheet, raising concerns about the impact of the investigation on the bank's financial standing. According to the Frankfurt Public Prosecutors Office, the investigation targets both unknown officials and employees at Deutsche Bank, following initial leads reported by the weekly news outlet, Spiegel. A spokesperson for Deutsche Bank confirmed to EFE that the bank is fully cooperating with the investigators. "We confirm that the Frankfurt Prosecutors Office is currently implementing a measure at Deutsche Bank offices," stated the spokesperson, who refrained from providing further details. The ramifications of the investigation were immediate, with Deutsche Bank's shares experiencing a sharp decline of 3% by noon, reflecting investor anxiety over the implications of the inquiry. The focus of the investigation reportedly involves former business relationships between Deutsche Bank and foreign companies suspected of being formed for the purpose of laundering money, allegedly linked to Abramovich, who has been under European Union sanctions since the spring of 2022. Around 30 plainclothes police officers were deployed to search Deutsche Bank's headquarters shortly after 10 AM, with the goal of seizing evidence related to the case. This operation underscores the increasing scrutiny of financial institutions regarding their roles in potentially facilitating illicit activities. As the investigation progresses, it remains to be seen how this will affect Deutsche Bank's operations and reputation in the international banking community. Related Sources: • Source 1 • Source 2