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Reuters
Reuters
Business

Frankfurt bank, two homes searched in relation to 'cum-ex' scandal

German prosecutors are searching a bank in Frankfurt as well as the private homes of two suspects in relation to the "cum-ex" tax fraud scandal, according to a spokesperson on Tuesday.

The search is being conducted in particular in order to collect relevant emails and written correspondence.

The scandal is Germany's biggest post-war fraud involving a share-trading scheme that the authorities say cost taxpayers billions of euros.

The prosecutors did not name the bank.

(Reporting by Elke Ahlswede, Writing by Miranda Murray; Editing by Madeline Chambers)

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