Tax offense: Searches at National Bank in North Rhine-Westphalia and Hesse

The Bochum public prosecutor's office searched the National Bank's business premises in Essen and other locations in North Rhine-Westphalia and Hesse due to initial suspicion of serious tax evasion. The bank reported this in a statement and the authority at the request of the German Press Agency.

The bank announced that there had been an operation in Essen and that board offices had also been searched. The investigations were directed against board members as well as current and former employees. It concerns securities lending transactions in the period from 2006 to 2015 and the initial suspicion of serious tax evasion.

The public prosecutor's office in Bochum described: "The local public prosecutor's office for the prosecution of economic and financial crime, together with the state office for combating financial crime, is conducting an investigation against those responsible and employees of National-Bank AG, based in Essen, on suspicion of corporate tax evasion from 2008 to 2015."

To clarify the matter, there were searches in Essen, Düsseldorf, Münster, Frankfurt am Main and Eschborn. More than 70 tax investigators and public prosecutors were involved in the actions. No further information could be given. According to WDR, the investigation is directed against 13 suspects.

The financial institution in Essen emphasized: “The bank is convinced of the legality of its actions and assumes that the initial suspicion will not be confirmed.” They support the law enforcement authorities and cooperate fully.