November 10 2017
Germany’s Commerzbank (CBKG.DE) has become the target of a tax evasion probe in which several current and former managers are suspected of evading 40 million euros (35.59 million pounds) in taxes via so-called dividend stripping.
Prosecutors said on Friday they had searched the offices of a major Frankfurt bank and private homes this week. The bank involved was Commerzbank, according to a person familiar with the matter who was speaking on condition of anonymity. Commerzbank, Germany’s second-biggest lender, said it was cooperating with authorities.
