Home > Economy > The Dummy Company at the Heart of Deutsche Bank Money Laundering Probe | ICIJ

The Dummy Company at the Heart of Deutsche Bank Money Laundering Probe | ICIJ

Leaked records involving a company at the center of a Deutsche Bank money laundering probe expose a global cadre of money makers.

The records concerning former Deutsche Bank subsidiary Regula Ltd. shine a light, too, on how one of the world’s largest banks helped shield the identities and machinations of the world’s rich and powerful.

German police and tax inspectors have raided the homes and offices of German citizens, bankers, accountants and tax advisers as part of a criminal investigation. Authorities allege that Regula helped more than 900 wealthy Germans evade taxes and hide money from government coffers.

This month’s raids come on the back of a November 2018 search of Deutsche Bank’s headquarters in Frankfurt.

Regula is what is known as a “nominee” or “dummy” company.

Source: The Dummy Company at the Heart of Deutsche Bank Money Laundering Probe – International Consortium of Investigative Journalists

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