Deutsche Bank Raided Over Past Links to Russia’s Abramovich (3)

Deutsche Bank AG was raided by German authorities on Wednesday as part of a money laundering probe looking at past dealings by staff with firms linked to the now-sanctioned Roman Abramovich, setting back the lender’s long-running effort to shed a previous reputation as a magnet for scandals.

Speaking at a previously scheduled earnings press conference the following day, Deutsche Bank Chief Executive Officer Christian Sewing said the investigation related to transactions between 2013 and 2018.

Christian Sewing

Photographer: Alex Kraus/Bloomberg

“The starting point is an allegedly late report of suspected money laundering,” Sewing said. “On this basis, the public prosecutor’s office is investigating ...