Deutsche Bank was searched. Bloomberg linked them to Abramovich

Deutsche Bank offices in Frankfurt and Berlin were searched in a case of money laundering by companies linked to sanctioned Russian billionaire Roman Abramovich, Bloomberg writes, citing unnamed sources.

The Frankfurt prosecutor's office has confirmed that it is investigating the possible involvement of "unidentified" bank employees in money laundering schemes linked to unnamed companies, the agency noted. "The bank has previously maintained business ties with foreign companies that authorities suspect of being used for money laundering purposes as part of other investigations," the Frankfurt prosecutor's office said in a statement.

According to one of Bloomberg's interlocutors, the investigation concerns transactions made between 2013 and 2018.

"We confirm that the Frankfurt prosecutor's office is at our offices," a Deutsche Bank spokesman told Bloomberg, declining to comment on whether the investigation is linked to Abramovich. - The bank is fully cooperating with the investigation."

"Our client is not aware of any investigation by the German authorities on this matter," Abramovich's legal representative told Bloomberg. - Abramovich has always acted in accordance with applicable domestic and international laws and regulations."

Abramovich made his fortune in the Russian metallurgy and energy industries, and became widely known after buying the English soccer club Chelsea, Bloomberg recalls. In March 2022, while imposing sanctions against the businessman, the European Union said that Abramovich has "privileged access" to Russian President Vladimir Putin, which allows him to "maintain a substantial fortune."

This is not the first time Deutsche Bank has faced questions: regulators around the world have criticized the bank for weak anti-money laundering controls, and it has previously resulted in fines, Bloomberg recalls. And the new investigation may again remind investors of past problems, the agency believes.

On Wednesday, amid this news, the shares of Deutsche Bank on the Frankfurt stock exchange fell in the moment by almost 4%. Markets are afraid of possible financial consequences because of this investigation, notes Bloomberg. The agency emphasizes that the investigation may overshadow the bank's quarterly reports, the publication of which is scheduled for January 29. According to the consensus forecast of Bloomberg, investors expected to see an increase in revenue and net income.

This article was AI-translated and verified by a human editor