The Frankfurt headquarters of Deutsche Bank have been subject for raid by prosecutors in a money laundering investigation.
According to Germany’s public prosecutor, the two staff members have helped clients launder money from criminal activities.
Police cars were seen outside the tower blocks that house the headquarters of Germany’s biggest bank.
Other Deutsche offices in the city were searched in an operation involving about 170 police and officials.
Prosecutors are looking into whether Deutsche Bank staff helped clients set up offshore accounts to “transfer money from criminal activities”.
In 2016 alone, more than 900 customers were served by a Deutsche Bank subsidiary registered in the British Virgin Islands, generating a volume of €311m, the prosecutors claim.
Furthermore, the investigation was sparked by revelations in the 2016 “Panama Papers” – an enormous amount of information leaked from a Panamanian law firm called Mossack Fonseca.
Other banks have been fined as a result of information contained in the Panama Papers.
Deutsche shares fell 3% after news of the raid emerged. The bank confirmed that police had raided several locations in Germany and that it was co-operating fully with the probe.
Paperwork and electronic documents were seized by officials during the raids on the bank’s properties.