German prosecutors raid Deutsche Bank over Panama Papers investigation - Sensationalist Headlines

https://www.bbc.com/news/business-46382722 The Frankfurt headquarters of Deutsche Bank have been raided by prosecutors in a money laundering investigation. Germany's public prosecutor alleged that two staff members have helped clients launder money from criminal activities. Police cars were seen outside the tower blocks that house the headquarters of Germany's biggest bank. Five other Deutsche offices in the city were searched in an operation involving about 170 police and officials. Prosecutors are looking into whether Deutsche Bank staff helped clients set up offshore accounts to "transfer money from criminal activities". The investigation, which began in August, focuses on activities between 2013 and the start of 2018. In 2016 alone, more than 900 customers were served by a Deutsche Bank subsidiary registered in the British Virgin Islands, generating a volume of €311m, the prosecutors allege. The investigation was sparked by revelations in the 2016 "Panama Papers" - an enormous amount of information leaked from a Panamanian law firm called Mossack Fonseca. Other banks have been fined as a result of information contained in the Panama Papers. Deutsche shares fell 3% after news of the raid emerged. The bank confirmed that police had raided several locations in Germany and that it was co-operating fully with the probe. Paperwork and electronic documents were seized by officials during the raids on the bank's properties. Deutsche has been connected with another huge money laundering scandal at Denmark's Danske Bank. Earlier this month, Deutsche confirmed that it was involved in processing payments for the Danish bank in Estonia. An internal investigation by Danske found that about €200bn (£177bn) of payments were funnelled through its Estonian branch. The Danish bank said many of those payments were suspicious. Deutsche said it had terminated its relationship with Danske in 2015 after "identifying suspicious activity". So not only are they involved in the Panama Papers but also the biggest money laundering scheme in history.

With every passing day, I get the feeling this is simply the tip of the iceberg. Between the money laundering, Panama Papers, and just about every single megacorporation continually attempting to dodge their way around taxes etc., I would not be surprised if it's one day revealed we're actually talking about trillions of euros that were being passed through these banks, and that there are thousands of individuals and corporations involved.

I think this shit is so big that the mere lack of that money as taxable income is majorly holding back world economies and their development (The wage stagnation in the west, for example) as the states have to lean more heavily on individuals for taxes. This shit's seriously in the trillions of dollars in the US alone, as companies like Apple "headquarter" in north ireland and switzerland where the coorporate tax rate is literally zero, and declare their billion dollar US headquarter building as being worth two bucks. People forget that the personal income tax is a new thing, brought in to pay for the war, and was promised to go away soon after. I think everyone all around the world would be richer, better off and actually more free if we could just enforce our goddamn rules and get coorporations to lift their fair share of the burden. Also, fuck income tax.

Deutsche Bank was apparently Trump's biggest lender too, if this has anything to do with that Mueller is a world hero.

another day, another story about how the germans were laundering money.

https://twitter.com/aroguegardener/status/1068197732651814912

I remember a guy who was send to an asylum after a messy court process for claiming the Deutsche Bank would be laundering money/evading taxes evasion on a big scale. There ware no investigations until now. His claims turned up to be actual true years later. This case is be one worst misjudgements cases in German post WW2 history. However I don't remember the name or how it turned out for him after the judiciary noticed their fuck up.

This is often the fate of legitimate whistle blowers who try to push their concerns through the so-called proper channels. In the end, nobody will roll the rock back for them. To do so would only make it easier for future whistle blowers. The system, although not designed to protect frauds, is designed to make it harder for them to be caught.

Douche Bank