Reports of Deutsche Finance Office Raid in Munich Cannot Be Verified by a Reliable Source
Key Facts
It was not possible to verify from an available reliable source that Deutsche Finance’s offices in Munich were raided on 3 November 2026. Nor was it possible to verify that a criminal investigation had been opened or details of any potential allegations against the company. As a result, there is no documented information about a new judicial measure on that day. In September, the company had announced a separate supervisory measure taken by Germany’s financial regulator, BaFin. It said the regulator required DF Deutsche Finance Investment GmbH to provide information and documents, and appointed a special commissioner to monitor compliance.
According to the company statement published on 10 September, BaFin’s decision dates to 9 June 2026 and is limited to five real estate investments. Deutsche Finance said each investment had one co-investor and that the decision did not include a finding of violations. The company described the measure as a limited request for information and document submission. It added that the special commissioner was accompanying implementation of the request on site, and that the company is under the regulator’s ongoing supervision in its capacity as an asset management company. This is the company’s description of the supervisory measure and does not establish the existence of a criminal investigation or a raid.
In a separate matter involving one of the group’s funds, a Munich court ordered temporary insolvency administration on 2 September 2026 for the DF Deutsche Finance Investment Fund 17 – Club Deal Boston II, according to the law firm Dr. Greger & Collegen. The firm said the fund’s management had informed investors in August of the possibility of insolvency and the potential for a total economic loss on their investments. The fund targeted the development of a real estate project in the Boston area, according to the firm. It said 1,187 investors took part, based on published annual reports. The measure applies specifically to the fund and does not in itself establish that the entire group is in financial distress.
The context also extends to the group’s retail investors: Handelsblatt reported that around 50.000 people had invested nearly 1,5 billion euros in its real estate and infrastructure projects as of 23 June 2026. This gives an indication of the amount of private capital tied to these projects, while the distress at Fund 17 underscores the importance of monitoring the status of funds individually. The available facts did not provide a figure for investor losses at the group level. They also do not establish a link between the temporary insolvency proceedings and the account of an office raid.
Another earlier development was Hauck & Aufhäuser Fund Services’ termination of all its mandates as manager of Deutsche Finance’s alternative investment funds in Luxembourg, effective 31 January 2026, according to information Stiftung Warentest attributed to the company. This development concerns fund management in Luxembourg and does not establish that criminal proceedings took place in Munich. In the United States, Bayerische Versorgungskammer said three lawsuits were pending and that courts had rejected two lawsuits or its inclusion in them, with appeals filed against both decisions; a motion to dismiss the third case remained pending a decision, according to its updated page.