US Bank – Raid on Morgan Stanley – Economy


Because of cum-ex tax deals, there was a raid on the German branch of US bank Morgan Stanley on Tuesday. The Cologne public prosecutor’s office announced that search warrants were being carried out against “a banking institute in Frankfurt am Main”. “The measures are related to cum-ex transactions that are the subject of the proceedings and related tax evasion models.” Investigators did not name the bank, but a Morgan Stanley spokeswoman said: “The investigation relates to past activity and we continue to cooperate with the German authorities.” According to the public prosecutor’s office, a total of 75 investigators took part in the searches, which also took place in the private homes of two suspects. They were primarily looking for emails and other correspondence.



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