Deutsche Bank offices searched under money laundering investigation

Investigators have gone into the Frankfurt offices as part of a probe by the public prosecutors office into the rogue offshore finance industry, Euronews reports.

A total of 170 officials from the Frankfurt prosecutors office, the Federal Criminal Police Office (BKA), the Tax investigation office were on the scene at the Deutsche Bank headquarters.

Deutsche Bank shares fell sharply after the news broke.

A German court ordered the search and targeted at least two employees of the group, according to the prosecutors office.

It is believed the probe involves the so-called Panama Papers, leaked documents pertaining to over 200,000 offshore dealings.

“It is true that the police are currently investigating various locations of our bank in Germany,” Deutsche Bank said on Thursday morning according to German-language business newspaper Handelsblatt. “It is a matter relating to the Panama Papers. We will communicate as soon as we have more details. We will cooperate fully with the authorities.”