Frankfurt (Germany), Nov 7 (EFE) .- The Munich Prosecutor's Office reported today that it is investigating the president of the German Savings Banks, Georg Fahrenschon, on suspicion of evasion of taxes.

Fahrenschon has acknowledged that he has filed his tax return for the years of 2012 and until 2014 with several years of delay, last year, but he denies having committed a crime.

The President of the German Savings Banks was Finance Minister of the Bavarian state between 2008 and 2011 and a member of the Christian Social Union (CSU), the Bavarian wing of the Christian Democratic Union (CDU).

Since May 2012, he has presided over the German Savings Banks, which hold a meeting on Wednesday to vote for his re-election for a second term.