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Deutsche Bank Slides as Another Scandal Strikes

Kevin Curran

Shares have slumped as much as 4.5% in pre-market hours as German federal authorities descended on the company's Frankfurt headquarters to rifle through documents related to the infamous Panama Papers. According to reports from the scene, multiple large police vehicles carrying 170 officers arrived to investigate the bank, indicating the scale of the operation. "We confirm that the police are currently conducting an investigation at a number of our offices in Germany," Deutsche Bank said when contacted by TheStreet.