Deutsche Bank on Wednesday said its Frankfurt offices were being searched by prosecutors probing a tax evasion scheme involving the trading of carbon permits.
The prosecutor said the probe related to severe tax evasion, money laundering and obstruction of justice, with the investigation targeting 25 employees of the bank.
Prosecutors have arrest warrants for five of those employees, they said.
About 20 police minibuses and two large coaches were parked outside Deutsche Bank headquarters, where tax inspectors clutching backpacks and suitcases were seen leaving the building.
Eight policemen wearing dark blue overalls armed with handguns were stationed in the lobby.
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