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Deutsche Bank's DWS hit again: Shocking greenwashing scandal!

Deutsche Bank's DWS, greenwashing scandal

The fund company DWS in Frankfurt underwent a visit from police officers and prosecutors on January 16, 2024. This occurrence was part of the ongoing investigations related to allegations of greenwashing against the asset management subsidiary of Deutsche Bank, as confirmed by a spokesperson for the company.

From the outset of the investigations, the company expressed a commitment to openness and transparency in its collaboration with authorities, both domestic and international. Throughout this process, approximately 3 million documents were thoroughly examined and provided, responding to requests and proactively sharing information.

The spokesperson emphasized the company's intention to continue cooperating fully to expedite the investigations. However, the timeline for resolution is contingent on the scheduling constraints of the authorities involved.

The Handelsblatt gained insight into the visit through judicial sources and subsequently reported on the development. According to the newspaper, more than 50 investigators were actively involved in this operation.

This incident marked the second occasion that the financial institution was subjected to a search due to allegations of greenwashing. In late May 2022, officials from the public prosecutor's office, the Federal Financial Supervisory Authority (BaFin), and the Federal Criminal Police Office (BKA) conducted searches at the premises of both DWS and Deutsche Bank.

The suspicion at the time revolved around investment fraud. DWS was accused of promoting funds as "sustainable" and "green," contrary to their actual characteristics. Up to this point, the investigations have targeted the former DWS CEO, Asoka Wöhrmann, and unnamed individuals.


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