Police raided six Deutsche Bank offices, including the lender's Frankfurt headquarters, on Thursday as part of an ongoing money laundering investigation, The New York Times reports.
About 170 officers and officials took part in the raid, with authorities suspecting two employees in particular of helping wealthy clients set up off-shore accounts to illegally launder money from criminal activity, per BBC News.
Deutsche Bank on Twitter Thursday confirmed that its offices were being raided, saying it is "cooperating fully with the authorities" and that the investigation "has to do with the Panama Papers case." Leaked in 2015, the Panama Papers detailed instances of the rich dodging taxes using offshore accounts, and hundreds of Deutsche Bank clients were included in the documents.
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Deutsche Bank in September was hit with a $630 million fine as part of a similar investigation, per Reuters, and Germany's financial watchdog ordered the bank to do more to prevent money laundering.
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