Commerzbank Is Entertaining Some Uninvited Guests Today - Dealbreaker

Commerzbank Is Entertaining Some Uninvited Guests Today


A couple hundred German tax officials from the state prosecutor's office thought they'd have a look around the place.

German prosecutors searched Commerzbank offices on Tuesday, looking for evidence that a foreign life insurance company may have helped German investors evade taxes.

State prosecutors in Bochum said around 270 tax officials searched the bank's headquarters and branches across Germany, looking into the sale of wealth management products "disguised" as tax-efficient life insurance policies….

"The investigations are not directed at the bank but at individual employees at another financial services provider," a Commerzbank spokesman said, declining to give further detail.

Prosecutors search Commerzbank in tax evasion probe [Reuters]


Commerzbank To Have Cake, Eat It, Too

Appreciative as it is for the €21 German taxpayers threw it, Commerzbank has had quite enough of living under the government's thumb. So it's going to finish paying back those taxpayer loans by conveniently diluting its shares such that the German government can't tell it what to do anymore.