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Deutsche Bank arrests in carbon permits fraud investigation

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Deutsche Bank arrests in carbon permits fraud investigation

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Deutsche Bank’s Frankfurt headquarters have been raided and five employees arrested as police investigate tax evasion and money laundering using carbon trading permits.

Six men have already been jailed for a similar carbon permit fraud worth three hundred million euro fraud done using Deutsche Bank.

The convicted men were found guilty of buying emission permits overseas without paying sales tax (also known as value-added tax), then re-selling the permits to people who were able to illegally claim back tax.