Deutsche Bank employees said charged in tax probe

Deutsche Bank - External

Frankfurt prosecutors charged seven current and one former Deutsche Bank employees over a scheme to help the lender and clients evade taxes on carbon-emissions trades, according to two people familiar with the case.

Bloomberg News reports that the bankers are charged with being part of a group that tricked the authorities on value-added tax refunds on carbon-emissions trading between September 2009 and February 2010, Alexander Badle, a spokesman for prosecutors, said in a statement on Thursday without naming the bank.

The men have all worked at the Frankfurt-based lender, according to the people, who asked not to be identified because the process is private.

The case is part of the biggest crackdown on emissions-related tax crimes since Europe began its cap-and-trade system in 2005 and saw police raid Deutsche Bank in 2012. 

To access the complete Bloomberg News article hit the link below:

Deutsche Bank Employees Said to Be Charged in Carbon Tax Probe

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