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Deutsche Bank Headquarters Raided in Money Laundering Probe

Martin Baccardax

shares plunged Thursday after prosecutors in Germany raided the lender's Frankfurt headquarters as part of an ongoing probe into money laundering that has implicated several European banks over the past year. Around 170 criminal prosecutors and tax inspectors were involved in the search, Frankfurt police officials said, in both Frankfurt and six other satellite locations around the country, as part of a probe into allegations that two Deutsche Bank employees assisted clients in illegal money laundering.