Deutsche Bank probed for alleged “cum‑cum” tax‑fraud scheme linked to Roman Abramovich

German prosecutors conducted searches of Deutsche Bank’s headquarters in Frankfurt and a branch in Berlin, as part of an investigation into “cum‑cum” tax‑fraud transactions carried out by the bank’s Postbank unit between 2008 and 2010. Approximately 30 prosecutors from the Frankfurt office, together with the Federal Criminal Police Office (BKA), also searched the Postbank office in Bonn. The scheme involved buying and selling shares of German companies around dividend dates, allegedly causing losses of billions of euros to the state budget. investigators have linked the case to Russian billionaire Roman Abramovich, who is under EU sanctions, and allege that Deutsche Bank delayed required suspicious‑transaction reports. The banking regulator BaFin has warned that the sector could suffer damages of up to €7‑8 billion. Deutsche Bank says it is fully cooperating with the authorities.