Investigators led by the Cologne Public Prosecutor's Office searched the headquarters of Sparda-Bank Berlin.
It concerns the suspicion of tax evasion in connection with "Cum-Ex" transactions at the expense of the state treasury.
Berlin / Cologne - A spokesman for the bank said on Wednesday that the search on Tuesday was limited to the headquarters.
No branches were affected.
“In terms of content, we cannot say anything about the ongoing investigation.
Of course we cooperate with the investigative authorities. "
The public prosecutor's office in Cologne announced on request that the preliminary investigation was part of the “Cum-Ex” complex and was directed against several people on suspicion of tax evasion. First, the "Handelsblatt" (Wednesday) reported online about it.
In “cum-ex” transactions, investors used a loophole in the law to cheat the German state out of money for years.
Around the dividend cut-off date, several participants pushed shares with (“cum”) and without (“ex”) dividend entitlements back and forth.
As a result, tax authorities reimbursed capital gains taxes that had not been paid.
The state suffered billions in damage.
In 2012 the tax loophole was closed.
Courts nationwide have been working on the issue of "Cum-Ex" for years.
In July of this year, the Federal Court of Justice (BGH) ruled that the "Cum-Ex" share transactions should be assessed as tax evasion and are therefore punishable.
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According to its own statements, the Cologne public prosecutor's office is executing several search warrants, including for the workplaces of suspects on the bank's premises.
According to a spokesman for the public prosecutor's office, investigators from the tax investigations of North Rhine-Westphalia and the Federal Central Tax Office are also involved in the search.
Further information is not possible with a view to the tax secrecy to be maintained.
dpa
