Authorities search Deutsche Bank headquarters - sources

(Reuters) - Deutsche Bank offices in Frankfurt were searched on Tuesday by German prosecutors seeking evidence related to client securities transactions, Germany’s largest lender said.

A source familiar with the situation told Reuters the raid was related to German private bank Sal. Oppenheim, which Deutsche Bank bought in 2010.

No Deutsche Bank employees have been accused of wrongdoing in the case, a bank spokesman said.

A spokesman for the Frankfurt prosecutors’ office said “wide-ranging investigative measures” had been carried out, but declined to give no details on the target or cause of the probe.

Deutsche Bank shares extended losses to trade down 3.2 percent by 1000 GMT, in line with the STOXX Europe 600 banking index.

The lender, which on Sunday announced the surprise departure of its Co-Chief Executives Anshu Jain and Juergen Fitschen following a sharp drop in shareholder confidence in the pair, has been straining to rebuild its reputation in face of a raft of legal and regulatory problems.

Those problems have prompted billions of dollars in fines and settlements.

Authorities have repeatedly raided its offices in recent years in connection with investigations linked to the collapse of the Kirch media empire and a tax fraud case related to the trading of carbon dioxide emissions rights.

 

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