German authorities have searched Deutsche Bank as part of an investigation tied to Russian oligarch Roman Abramovich, Spiegel reported. On Wednesday morning, about 30 officers from the Federal Criminal Police Office (BKA), acting on orders from prosecutors, searched the bank’s Frankfurt headquarters and its Berlin office.
The Frankfurt public prosecutor’s office said it is investigating unidentified Deutsche Bank executives and employees on suspicion of money laundering. Investigators believe the lender previously maintained business ties with foreign companies suspected of being used for money laundering. According to Spiegel, the searches are connected to firms that investigators associate with Abramovich, who has been on the European Union sanctions list since spring 2022.
A lawyer for Abramovich said: “Our client is not aware of any investigations by German authorities in this matter.” He added that Abramovich has always acted in accordance with applicable national and international laws and regulations, and that any claims to the contrary are “false and damaging to the oligarch’s reputation.”
Deutsche Bank confirmed investigative actions on its premises and said it is fully cooperating with authorities, while declining to comment further.
In December last year, UK authorities demanded that Abramovich direct £2.5 billion ($3.35 billion) from the sale of soccer club Chelsea to “any assistance” for Ukraine, threatening to take the matter to court if he refused.
