Germany’s DekaBank Raided Over Controversial Cum-Ex Scandal (1)

The offices of German lender DekaBank were searched by prosecutors as part of the wider probe into the controversial Cum-Ex tax scandal.

The raid of the Frankfurt-based firm, that is owned by the country’s savings banks, was carried out on Tuesday, according to people familiar with the matter who asked not to be identified because the information is not public.

A Deka spokesman confirmed that the lender was searched over stock trading deals on Tuesday, declining to comment further. Cologne prosecutors said in an emailed statement that they are searching the offices of a Frankfurt-based lender because of Cum-Ex, without ...