German prosecutors have extended an investigation into a tax-stripping scheme, with around 70 current and former executives of Deutsche Bank now being treated as suspects, the Sueddeutsche Zeitung reported on Thursday.
Among those suspected by the Cologne prosecutor’s office is Garth Ritchie, the head of Deutsche’s investment banking arm, the newspaper wrote in a report that cited unnamed sources. Ritchie, through a Deutsche Bank spokesman, declined comment.
No comment was immediately available outside office hours from the Cologne prosecutor.
In a statement, Deutsche Bank confirmed that further current and former managers were under investigation, but did not say who they were. It also said they were not involved in the tax scheme.