The Deutsche Bank spying scandal continues to heat up in Germany, as the bank has now reportedly dismissed two top executives following an internal investigation. As previously discussed here, in a development somewhat reminiscent of the Hewlett Packard spying scandal from 2006, the German press reported earlier this month that Deutsche Bank spied on certain of its board members and a “troublesome shareholder,” as well, after quarterly financial information was leaked.

In addition, prosecutors in Frankfurt have now opened a preliminary probe into whether Deutsche Bank or its executives violated civil and criminal laws that protect individual privacy by spying on the shareholder.

Rafael Schenz, the company's head of German corporate security, and Wolfram Schmitt, the bank's head of investor relations, are the two executives who were dismissed, the WSJ reports.