BNY Mellon’s Frankfurt Offices Raided in German Cum-Ex Probe (2)

Bank of New York Mellon’s Frankfurt offices are being raided by Cologne prosecutors as part of their vast investigation into the controversial Cum-Ex scandal that has increasingly ensnared Wall Street’s biggest banks.

BNY Mellon confirmed that its Frankfurt office was visited by German authorities. The bank said it continues to cooperate fully with the authorities in an ongoing investigation relating to legacy tax matters. There has been no interruption to services to clients, the lender added.

A spokesman for Cologne prosecutors said searches at two unidentified banks started on Tuesday and included the homes of employees who are suspects ...