FRANKFURT Feb 25 Police searched about 50 homes
and offices in Germany and Switzerland on Tuesday in an
investigation into suspected insider trading worth several
millions of euros, police in the German state of
They seized documents, mobile phones, computers and
electronic storage media in Switzerland and eight German states,
with a particular focus on Hesse, home to Germany's financial
Authorities suspect 23 individuals aged 32-64 of insider
trading ahead of takeover deals. They did not name the people or
the companies involved.
"It is still unknown who passed on information about future
takeovers to this group of people," Baden-Wuerttemberg's state
criminal office said in a statement.
About 150 police officers took part in the searches, joined
by 20 officials from German financial watchdog Bafin and eight
public prosecutors, the statement said.
Stuttgart public prosecutors had previously launched an
investigation against some of the individuals in 2008, but the
probe was stopped due to lack of evidence, police said.
(Reporting by Christoph Steitz; Editing by Robin Pomeroy)