Deutsche Bank's offices in Frankfurt and Berlin were raided by German prosecutors and the Federal Criminal Police Office in a money laundering probe. The Office of the Federal Prosecutor revealed the investigation targets "unknown individuals and employees" at Germany’s largest bank. Authorities said Deutsche Bank had "maintained business relationships in the past with foreign companies" suspected of being used for money laundering. A Deutsche Bank spokesperson confirmed the searches but officials did not disclose the identities of those involved or the foreign companies under scrutiny. German media linked the probe to Russian billionaire Roman Abramovich. A legal spokesperson for Abramovich told the BBC: "Our client is not aware of any investigations by the German authorities in this matter. Mr Abramovich has always acted in accordance with applicable domestic and international laws and regulations. Any suggestion to the contrary is false and defamatory, and our client reserves all rights in this matter." Abramovich was sanctioned by the UK and EU in March 2022 after Russia’s invasion of Ukraine. Deutsche Bank is set to announce its full-year results on Thursday, an event now shadowed by these raids. The bank’s shares dropped nearly 2% on Wednesday. This is not the first time Deutsche Bank has faced raids; in 2018, its Frankfurt headquarters and other offices were searched in a separate money laundering operation. That earlier investigation examined whether staff helped set up offshore accounts for moving money from criminal activities between 2013 and 2018.