Police raid LBBW in junk-loans inquiry

Police raid LBBW in junk-loans inquiry


Police raided the offices and homes of executives at Germany’s biggest public bank on 13 November, pursing an inquiry into how Landesbank Baden-Wuerttemberg (LBBW) invested in nearly worthless loans three years ago. Prosecutors in Stuttgart said seven current or former management board members at LBBW were suspected of serious misappropriation of corporate funds. Loss-making LBBW is the biggest of Germany’s landesbanks, public institutions which are mainly controlled by the 16 German states. Sev...


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