05-04-2022, 09:37 AM
![[Image: 20220503-new_york-morgan_stanley_bank-afp.jpg]](https://media.thevibes.com/images/uploads/covers/_large/20220503-new_york-morgan_stanley_bank-afp.jpg)
FRANKFURT – German investigators today raided the Frankfurt offices of US bank Morgan Stanley in a probe related to “cum-ex” fraud schemes that cost European governments billions of euros in tax income, prosecutors said.
The Cologne prosecutor’s office was “carrying out searches” at the offices of a bank in Frankfurt, it said in a statement.
Morgan Stanley confirmed to Bloomberg News that its premises were being searched.
As well as offices, investigators had “searched the private homes of two suspects”, prosecutors said.
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