Deutsche Bank co-chief named in carbon tax investigation Jürgen Fitschen, co-chief executive, and Stefan Krause, a director, are involved in the investigation that on Wednesday saw hundreds of police and tax officials raid the bank's headquarters in Frankfurt, as well as private addresses in Berlin, Düsseldorf and Frankfurt. The investigation is centred on 25 of the bank's staff, according to German prosecutors, and involves allegations of tax evasion, money laundering and obstruction of justice linked to carbon trading certificates. In a statement Deutsche Bank said: "Two of Deutsche's Bank's management board members, Jürgen Fitschen and Stefan Krause, are involved in the investigations as they signed the value-added tax statement for 2009." Tax inspectors were reportedly seen leaving the bank's Frankfurt office with backpacks and suitcases, while about 20 police vans and two coaches were parked outside. Mr Fitschen has been a director of Deutsche Bank for a decade, but became co-chief executive in May, along with Anshu Jain, the India-born London-based head of Deutsche's investment banking arm. They replaced the group's long-serving chief executive, Josef Ackermann. Mr Ackermann faced his own legal travails while in the job after he was accused of undermining the media empire of late German tycoon Leo Kirch in an interview in 2002 that led to him being questioned by prosecutors. He also faced allegations of lying as a witness in a case against his predecessor Rolf Breur, leading to his own office being searched. Deutsche Bank dismissed the allegation at the time as baseless. The carbon trading investigation comes days after Deutsche Bank faced allegations over the valuations applied to large portfolios of its assets at the height of the financial crisis with three former employees claiming the assets were over valued.