Money laundering and tax evasion: raid on banks and accused in Germany

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Investigators in search operation (symbol picture): Raid in business and private rooms throughout Germany

The Frankfurt public prosecutor's office had business and private rooms searched all over Germany on the basis of international financial data. It was about two different investigations: In one case it concerns suspected tax evasion, in the other it concerns a money laundering network.

In the case of tax fraud , six German suspects have so far been investigated who, with the help of a bank in Puerto Rico, are said to have founded so-called offshore companies - i.e. letterbox companies in tax havens - as announced by the Frankfurt Public Prosecutor and the Federal Criminal Police Office. The aim was to hide investment income from the German tax authorities and evade the taxes incurred.

The accused's private apartments in the Rhine-Main locations of Frankfurt, Neu-Anspach, Oberursel, Schwalbach and Hattersheim as well as in Bonn were searched, as were the offices of several banks throughout Germany. Further accused could be added in the course of the investigation, said the Frankfurt prosecutor Nadja Niesen.

Banks asked for information

According to the judiciary, the searches in the institutes were solely about obtaining evidence and clarifying the actual ownership of the offshore companies. Several banks including Deutsche Bank were asked for information. Deutsche Bank refused to comment on the matter.

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Icon: Spiegel PlusIcon: Spiegel PlusDeutsche Bank involved in money laundering scandal: "They call it the Azerbaijani washing machine" By Tim Bartz and Christian Müller

In a further, independent procedure, emergency services from the Federal Criminal Police Office searched an import and export company as well as living spaces in Brandenburg. Its 57-year-old owner is suspected of belonging to a  money laundering network with strong links to Russia, which became known last year under the title "Troika Laundromat" or "Azerbaijani washing machine". According to reports from an international research network, several billion euros are said to have reached the West from Russia. Around 190 million euros landed in German accounts alone. According to its own information, the BKA has had the corresponding data sets since the beginning of 2019.

The businessman now affected by the search is said to have brought illegal profits from criminal offenses into the legal economic cycle. External payments to private individuals in Russia have flowed through the company accounts. In addition, there is a suspicion that more than seven million euros have flowed to offshore companies through the company, the authorities said. It was initially unclear whether the man was arrested.

fdi / dpa