Police raids on Deutsche

GERMAN police have raided the headquarters of Deutsche Bank in connection with a money-laundering probe.

About 170 police, prosecutors and tax inspectors stormed the Frankfurt offices yesterday, seizing documents and electronic records.

Prosecutors have accused two unnamed employees of helping clients to set up offshore companies to launder money.

The investigation focuses on the years 2013 through to 2018 and follows the publication of the so-called Panama Papers two years ago.