German prosecutors search Deutsche Bank headquarters in cum-ex probe

Deutsche Bank logo. Credit: Reuters File Photo

German prosecutors have searched the headquarters of Deutsche Bank in connection with an ongoing investigation of the multibillion-euro tax fraud scheme known as "cum-ex", Deutsche Bank said on Tuesday.

Deutsche is one of many banks that prosecutors have searched in connection with the tax scheme that thrived more than a decade ago.

Deutsche said it has been cooperating with investigators on the topic since 2017 and was continuing to do so.

Handelsblatt first reported the search.