Prosecutors raid Deutsche Bank's head office

(Sharecast News) - Deutsche Bank's German offices have been raided, it was confirmed on Wednesday, in an investigation understood to be related to possible money laundering. In a statement sent to Reuters, German federal police said they were investigating as-yet unnamed persons and bank employees.

It continued: "In the past, Deutsche Bank maintained business relationships with foreign companies which, in the course of further investigations, are themselves suspected of having been used for money laundering purposes."

Deutsche confirmed the searches were taking place, adding: "The bank is cooperating fully with the public prosecutor's office." It declined to comment further.

The raids, which were first reported by Der Spiegel, are understood to have been on Deutsche's Frankfurt headquarters and a site in Berlin. The newspaper said around 30 investigators had entered the headquarters.

Deutsche's Frankfurt-listed stock was down 3% as at 1330 GMT.