BERLIN (AP) — German public broadcaster Hessischer Rundfunk reports that police and prosecutors are searching the headquarters of Deutsche Bank in Frankfurt in connection with money laundering allegations.
Hessischer Rundfunk reported that a large number of police officers were involved in the raid early Thursday.
It quoted Frankfurt prosecutors saying Deutsche Bank is suspected of helping customers set up offshore companies in tax havens.
Deutsche Bank didn't immediately respond to a request for comment.
Its shares dropped on the news and were down 3 percent in morning trading.