In Germany, Seith is celebrated as an enlightener who uncovered the dubious cum-ex transactions with billions in losses for the German state. He is being persecuted in Switzerland.
The lawyer Eckart Seith, who was celebrated as a cum-ex solver in Germany, will be in court again in Switzerland in December. It is about the continuation of an appeal process after Seith was initially acquitted of charges of economic espionage in 2019.
According to the court, the hearing will take place at the Zurich Higher Court on December 9th. A day was reserved for this. It was still unclear when the verdict would be handed down.
Since then, a guilty verdict was obtained in Germany
Seith, from Baden-Württemberg, is being prosecuted in Switzerland for economic espionage because he obtained internal documents from the Swiss bank J. Safra Sarasin and passed them on to German investigators. In doing so, he obtained a guilty verdict against the bank in Germany, but was indicted in Switzerland.
Seith’s client was the drugstore chain owner Erwin Müller, who felt he had received bad advice from the bank and lost a lot of money in the Cum-Ex business.
As a result of a confusion involving shares being moved back and forth, the German state suffered billions in damage as a result of the dubious cum-ex transactions. The Federal Court of Justice ruled that stock traders, investors and banks had committed a criminal offense with cum-ex transactions.
Source: Stern
