Deutsche Bank: helped its customers maintain more than 300 secretive offshore companies and trusts through its Singapore branch

Why is this important when $12 Trillion ends up off shore? Among other obvious reasons, as noted by Frank Wehrheim, the former head of the tax investigation unit in German financial hub Frankfurt, big banks such as Deutsche Bank are responsible for “aiding and abetting tax fraud, money laundering and similar crimes.” Because of complex structures in tax havens, tax investigators can “very rarely look into these acts,” Wehrheim said…and trillion$ of dollars are hidden from taxes…

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Deutsche Bank: helped its customers maintain more than 300 secretive offshore companies and trusts through its Singapore branch

Largest German bank’s Singapore unit helped birth companies and trusts in tax havens

Germany’s largest financial institution, Deutsche Bank, helped its customers maintain more than 300 secretive offshore companies and trusts through its Singapore branch, an investigation by German newspaper Sueddeutsche Zeitung, German public broadcaster NDR and the International Consortium of Investigative Journalists has found.

More than 100 customer consultants at Deutsche Bank Singapore helped create or manage 309 offshore entities for its customers in the British Virgin Islands and other tax havens, according to secret records obtained by the news organizations.

Most of the companies carry fantasy names like “Thrilling Returns Incorporated,” “Amazing Opportunity Limited” or “Market Dollar Group Limited.” Public sources don’t show any business activities for most of these companies.

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1 thought on “Deutsche Bank: helped its customers maintain more than 300 secretive offshore companies and trusts through its Singapore branch

  1. In Deutsch Bank we trust. They are the non deposit bank that allegedly hold massive trust accounts in the securities pools. Deutsch Bank is in crime up to their roofs.Duetsche Bank Nat’l Trust is a huge forcloser monster..

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