The Deutsche Bank subsidiary DWS is confronted with the greenwashing allegations.
(Photo: Reuters)
Frankfurt The headquarters of Deutsche Bank and its fund subsidiary DWS are being searched in Frankfurt by the police and public prosecutors. According to the Frankfurt public prosecutor, the background to this is the greenwashing allegations against DWS.
Law enforcement officials on Tuesday morning entered the twin towers at Frankfurt’s Taunusanlage, home to Germany’s largest bank, and the premises of DWS Group in close proximity.
A spokesman for Deutsche Bank declined to comment. DWS did not immediately respond to a request. A DWS security guard confirmed to Bloomberg news agency that the company was visited by federal police. The public prosecutor’s office in Frankfurt confirmed the searches.
The shares of Deutsche Bank and DWS initially fell significantly by up to 4.6 percent after the report, but recovered immediately.
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