dusseldorf Some 130 prosecutors, tax inspectors and police have occupied the offices of the main French bank since Tuesday BNP Paribas were searched in Frankfurt and the private homes of the suspects in Hesse, North Rhine-Westphalia and Rhineland-Palatinate. The reason: the bank is said to have been involved in so-called cum-ex deals. The term describes a method of trading shares in which participants share their Lead refunded twice.

A spokesman for the Cologne prosecutor’s office confirmed the raid when asked: “The measures are related to the cum-ex transactions that are the subject of the proceedings and the related tax evasion models and are used in particular to find relevant communication in the form of emails and other written correspondence.

The preliminary investigation is currently directed against 58 suspects who worked or work for the bank or its subsidiaries or group companies. From the BNP environment it was said that one cooperates with the authority. The bank did not respond to a request on short notice.

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