On Tuesday, investigators and investigators searched several business premises in the Frankfurt banking district and at the airport as well as a private apartment on behalf of the Cologne public prosecutor's office.

At the same time, raids were carried out on the major international law firm Norton Rose Fulbright in the Taunusturm and on the auditing firm KPMG, which is based in the The Squaire office complex at Frankfurt Airport.

Marcus Young

Editor in Business.

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The official measures are not directed against the companies, but against a well-known bank and capital market lawyer.

He is said to have advised on cum-ex transactions in previous years.

First, Bloomberg reported on the events.

A spokesman for the Cologne public prosecutor's office did not name any names, but confirmed the execution of a search warrant against a law firm in Frankfurt.

"In addition, the private apartment of a former employee of the law firm as a suspect and his new workplace are searched.

The measures are related to cum-ex transactions that are the subject of the proceedings and related tax evasion models," said the spokesman for the authorities.

Investigators are looking for emails and files

The measure serves in particular to find relevant communication in the form of e-mails and other written correspondence, it said.

In addition to prosecutors from Cologne, 45 detectives from North Rhine-Westphalia and tax investigators were involved in the searches.

Norton Rose Fulbright said through a spokesman on request that the measures were being supported cooperatively.

"Norton Rose Fulbright will continue to work constructively with the authorities to further the investigation of the matter," the statement said.

Neither the law firm nor active employees are accused in the process.

The accused lawyer worked there for more than ten years and primarily advised investment banks and funds on banking and tax law issues.

Only a few months ago he had left the firm and joined KMPG Law, the legal arm of the Big Four accounting firm.

A company spokesman for KMPG confirmed the search on request.

"Since the search warrant you mentioned does not refer to us, I ask for your understanding that we cannot comment on it."