The allegations have been around for some time: Did DWS sell so-called green financial products as “greener” than they actually are?
The Deutsche Bank fund subsidiary DWS has received another visit from investigators in connection with greenwashing allegations. According to the Frankfurt public prosecutor’s office, representatives of the Federal Criminal Police Office (BKA) and the public prosecutor’s office investigated the DWS premises on January 16th. Other media had previously reported on it.
The fund company is accused of selling so-called green financial products as “greener” than they actually are – in other words, “greenwashing”. The public prosecutor’s office announced today that the investigation is directed against the former person responsible and previously unknown employees of DWS. The investigation is ongoing.
The first search took place in May 2022
A first search in connection with the allegations took place in May 2022. In June of the same year, the boss was replaced: Asoka Wöhrmann was replaced by Stefan Hoops from Deutsche Bank.
A DWS spokeswoman said the company provided further information at the request of prosecutors. “From the beginning of the investigation, we worked openly and transparently with all authorities at home and abroad.” The DWS examined and made available a total of around 3 million documents. “We will continue to cooperate fully to complete the investigation as quickly as possible.” However, this depends on the timing of the authorities.
Source: Stern
