DWS and Deutsche Bank raided by police following whistleblower claims of greenwashing

The raid involved more than 50 officers

clock • 2 min read
Offices were raided without warning
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Offices were raided without warning

German prosecutors raided the offices of DWS asset management and Deutsche Bank in Frankfurt this morning (31 May), concerning allegations of greenwashing and misleading investments.

The raid, first reported by Bloomberg, involved around 50 officers who arrived at the offices with members of the German regulator BaFin present among the officers. According to the public prosecutor's office, the search is connected to greenwashing allegations against DWS. Reuters reported that a statement made by the authorities said they were following up from reports and a whistleblower claiming that DWS sold investments as "greener" or "more sustainable" than they actually were. SEC unveils new ESG fund disclosure and naming requirements According to the Financial Times, DWS s...

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