JPMorgan Chase & Co.’s Frankfurt offices are being raided by Cologne prosecutors as part of their vast probe into the controversial Cum-Ex scandal that robbed tax payers of billions of euros.
The US bank confirmed in a statement that it was visited by officials and said that it continues “to cooperate with the German authorities on their ongoing investigation.”
A spokesman for Cologne prosecutors on Wednesday said searches at an unidentified bank started on Tuesday and include the homes of four suspects as well as an auditing firm that isn’t a target in the probe. More than 50 officers are involved, including specialists to unearth evidence buried in emails. The investigators are also looking for evidence of deals similar to Cum-Ex.
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