It's A Raid - Prosecutors Search Top Firm's HQ

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Here we go again.

Reuters reports that prosecutors have again searched the headquarters of Deutsche Bank, this time in connection with its legal battle with the estate of dead media mogul Leo Kirch, a week after a high-profile raid in a carbon tax probe.

Munich prosecutors searched Deutsche's headquarters on Wednesday, seizing documents but arresting no-one, a spokesman for the Munich prosecutor's office said on Thursday.

One eyewitness said Wednesday's search involved only a dozen or so officials, small compared with last week's carbon tax probe raid by Frankfurt prosecutors, in which 500 police and tax inspectors in three cities took part.

In the meantime, the news agency also reports that a U.S. regulator fined Deutsche Bank Securities $1.25m and censured it for overstating the trades it made for clients in order to attract more business.

The U.S. broker-dealer of Deutsche Bank AG exaggerated its trading volume by 4%, or more than 4 billion shares, between mid-October 2010 and mid-June 2012, the Financial Industry Regulatory Authority said in a consent order filing.

Prosecutors search Deutsche Bank HQ over Kirch suit

U.S. fines Deutsche Bank unit $1.25 mln for inflating trade data

image: © Jan Krömer

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