German Prosecutors Raid Pension Fund Over US Property Deals
Munich prosecutors have raided BVK, a German pension fund group, over its troubled US property investments. The raid came two days after investigators searched asset manager Deutsche Finance Group as part of the same investigation. The probe is focused on property bets made in the United States.
Context
Context: BVK manages retirement money for public sector workers in Germany, so investment losses can affect many pensioners. Deutsche Finance Group is an asset manager that invests money on behalf of funds and clients.
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