LONDON—German authorities have searched the Frankfurt offices of JPMorgan Chase & Co., a bank spokesperson confirmed, as long-running investigations into one of the country’s biggest financial scandals affected another global lending giant.
The share-trading scandal known as “cum-ex,” which has blighted German political and financial circles for several years, has cost taxpayers billions of euros, lawmakers claim.
A large number of banks have been searched by prosecutors investigating possible wrongdoing, with raids being conducted on the German branches of Barclays, Bank of America, and Morgan Stanley in recent months.
Government officials say the investigation involves some 100 banks on four continents and at least 1,000 suspects….