FRANKFURT: German investigators today raided the Frankfurt offices of US bank Morgan Stanley in a probe related to “cum-ex” fraud schemes that cost European governments billions of euros in tax income, prosecutors said.The Cologne prosecutor’s office was “carrying out searches” at the offices of a bank in Frankfurt, it said in a statement.Morgan Stanley confirmed to Bloomberg News that its premises were being searched.As well as offices, investigators had “searched the private homes of two suspects”, prosecutors said.The raids were related to “cum-ex transactions and related tax-evasion models” and aimed to secure “emails and written correspondence” related to the affair.Several law enforcem
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