Deutsche Bank hit by tax‑fraud probe into Cum‑Cum trades

German prosecutors conducted raids at Deutsche Bank’s Frankfurt headquarters as part of an investigation into alleged Cum‑Cum transactions carried out by its former Postbank unit between 2008 and 2010. The Düsseldorf public‑prosecutor’s office, through its economic and financial crime unit, searched the bank’s offices and other locations with roughly 150 investigators, citing concerns over large‑scale tax evasion.

Deutsche Bank confirmed the searches, said it is cooperating fully and is being examined only as a third‑party successor to Postbank. The bank acquired a controlling stake in Postbank in 2008, completed the purchase in 2010 and fully integrated it in 2018. Regulators estimate that Cum‑Cum practices may have cost the German treasury several billion euros, with figures ranging from €7‑8 billion to as high as €28 billion.

The case follows earlier scrutiny of similar “cum‑ex” schemes and highlights ongoing efforts by German authorities to recover losses from complex dividend‑tax arbitrage arrangements.