Offices of Deutsche Bank execs searched – reports

Business 11/30/2018, 1:30 PM
Offices of Deutsche Bank execs searched – reports

The German media floated unconfirmed information, obtained from insiders on Friday, that the raid started yesterday amid an investigation into alleged money laundering included offices of chief executive Christian Sewing and head of supervision and compliance Sylvie Matherat (pictured). Prosecutors didn't exclude scrutinizing activities of additional suspects, after acknowledging they are looking into two unnamed persons.

Earlier, the Wall Street Journal wrote, without revealing sources, that Sewing and Matherat were at a prescheduled meeting with United States Federal Reserve Vice Chairman Randal Quarles when police first came. Before the raid, the news outlet said it learned she and Tom Patrick are seen for removal from the board.

The prosecutor's office in Frankfurt revealed the investigation started in August. Nine hundred customers are said to have been helped by the struggling lender's affiliate Regula Ltd., registered in the British Virgin Islands, where the probe is apparently focusing on €311 million from their accounts. Deutsche Bank fell 3.7% to €7.993 per share, an all-time low.

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