• Germany's news in English
Panama Papers put German bank in spotlight: report
Berenberg president, Hans-Walter Peters. Photo: DPA

Panama Papers put German bank in spotlight: report

AFP · 16 Apr 2016, 11:17

Published: 16 Apr 2016 11:17 GMT+02:00

Facebook Twitter Google+ reddit

The German authorities launched an inquiry into the allegations covering "bank officials in Germany, Switzerland and Luxembourg" earlier in the week, according to Spiegel. 

Bank head Hans-Walter Peters, who has just taken over as pesident of the powerful German association of private bankers, is "in the (investigators') sights," Spiegel added. 

A Berenberg spokesman told AFP by email that the bank was in contact with the prosecutor's office but added that no judicial procedure was underway against Peters. 

The prosecutor's office was unavailable for comment. 

Peters took over from outgoing Deutsche Bank co-CEO Juergen Fitschen at the head of the private bankers' association last week with the latter embroiled in a longstanding legal case involving the collapse in 2002 of the Kirch media empire. 

Hamburg-based Berenberg is mentioned several times in the huge offshore Panama Papers data dump unveiled earlier this month by international media. 

The bank said last week, "like many others," it had managed offshore accounts for clients but insisted it had done so "in line with the law." 

Spiegel also returned to the Panama Papers theme in alleging that Finance Minister Wolfgang Schauble had "for years" not engaged with a reported whistleblower whom it said had offered to hand over evidence of wrongdoing regarding links between the Bundesdrueckerei printing house, which the ministry oversees, and shell companies in Panama. 

Earlier this week the finance ministry denied it had ignored warnings from an informant in South America. 

Story continues below…

Last Sunday, Schaeuble urged countries to work together in the fight against tax cheats and money launderers by sharing national lists naming the beneficiaries of shell companies while warning that recalcitrant countries could be blacklisted. 


For more news from Germany, join us on Facebook and Twitter.

Facebook Twitter Google+ reddit

Today's headlines
Dad who auctioned baby on eBay restricted from seeing child
Photo: DPA.

A German court ruled on Thursday that a man who put his one-month-old baby up for sale on the online auction platform eBay should only be allowed contact with the child under supervision.

Portugal's ruling party calls German minister 'pyromaniac'
Finance Minister Wolfgang Schäuble. Photo: DPA.

The head of Portugal's ruling Socialists called German Finance Minister Wolfgang Schäuble a "pyromaniac" on Thursday after he criticized Lisbon for reversing course on austerity.

These are Germany's top ten universities
The new library of Freiburg University. Photo: Jörgens.mi / Wikimedia Commons

These are the best universities in all of Germany - at least according to one ranking.

Introducing Swabians - 'the Scots of Germany'
Photo: DPA

These Southern Germans have quite a reputation in the rest of the country.

Woman sues dentist over job rejection for headscarf
Photo: DPA

A dentist in Stuttgart is being taken to court by a woman whom he rejected for a job as his assistant on the basis that she wears a Muslim headscarf.

Isis suspect charged with scouting Berlin attack sites
Photo: DPA

German federal prosecutors said Thursday they had brought charges against a 19-year-old Syrian man accused of having scouted targets in Berlin for a potential attack by the Isis terror group.

Berlin Holocaust memorial could not be built now: creator
The Memorial to the Murdered Jews of Europe, in Berlin. Photo: DPA.

The architect of the Berlin Holocaust memorial has said that, if he tried to build the monument again today, it would not be possible due to rising xenophobia and anti-Semitism in Germany and the United States.

'Liberal' Germany stopping Europe's 'slide into barbarism'
Ian Kershaw. Photo: DPA

Europe is not slipping into the same dark tunnel of hate and nationalism that it did in the 1930s - mainly thanks to Germany - one of the continent's leading historians has said.

Eurowings strike to hit 40,000 passengers
Travelers impacted by the strike on Thursday wait at Cologne Bonn airport. Photo: DPA.

The day-long strike by a Eurowings cabin crew union is expected to impact some 40,000 passengers on Thursday as hundreds of flights have been cancelled.

Deutsche Bank reports surprise quarter billion profit
Photo: DPA

Troubled German lender Deutsche Bank reported Thursday a surprise €256-million profit in the third quarter, compared with a loss of more than six billion in the same period last year.

10 German clichés that foreigners get very wrong
Sponsored Article
Last chance to vote absentee in the US elections
10 ways German completely messes up your English
Germany's 10 most weird and wonderful landmarks
10 things you never knew about socialist East Germany
How Germans fell in love with America's favourite squash
How I ditched London for Berlin and became a published author
12 clever German idioms that'll make you sound like a pro
23 fascinating facts you never knew about Berlin
9 unmissable events to check out in Germany this October
10 things you never knew about German reunification
10 things you're sure to notice after an Oktoberfest visit
Germany's 10 most Instagram-able places
15 pics that prove Germany is absolutely enchanting in autumn
10 German films you have to watch before you die
6 things about Munich that’ll stay with you forever
10 pieces of German slang you'll never learn in class
Ouch! Naked swimmer hospitalized after angler hooks his penis
Six reasons why Berlin is now known as 'the failed city'
15 tell-tale signs you’ll never quite master German
7 American habits that make Germans very, very uncomfortable
Story of a fugitive cow who outwitted police for weeks before capture
jobs available
Toytown Germany
Germany's English-speaking crowd