Tax fraudster
Cum-Ex actor pays the state to eleven million euros
He was convicted five years ago, his suspended sentence has long since been ticked off-but how much money does a Cum-Ex person have to pay back to the state? The question was unclear – until now.
In the aftermath of the first judgment in CUM-Ex Tax fraud, the convicted person has to pay another eleven million euros to the state. The Bonn district court sentenced the former stock market dealer to a probation penalty of 22 months and ordered the confiscation of 14 million euros.
The Brit paid three million. After that, however, it was controversial whether he also had to shell out the remaining eleven million or whether you could offset money to pay the Warburg-Bank involved in the business to the tax authorities.
No, the Cologne Higher Regional Court finally decided – the payment of the bank had no repayment effect on the claims against the convict. The Briton has now signaled that he wants to pay the remaining money in installments. “The convict faces enforcement,” said a spokesman for the Bonn public prosecutor. The “Handelsblatt” had previously reported.
The greatest tax fraud in the Federal Republic
At CUM-EX, financial actors pushed stocks back and forth with (“cum”) and without (“ex”) dividend claims. In the end, taxes that had not been paid were reimbursed-according to various estimates, this cost the German state a double-digit billion-euro amount. The cum-ex phase was from 2006 to 2011.
The case against the British and another participating compatriot finally landed in front of the Federal Court of Justice, which Cum-Ex 2021 considered a crime. After that, the revision of the largest tax scandal in the Federal Republic gradually gained driving. In the meantime, the Cologne public prosecutor, who plays a central role in the investigation against Cum-Ex
The Briton, condemned in 2020, had been repentant and delivered insider information to the authorities. This was not the case with other CUM-EX players. The Bonn district court sentenced the tax lawyer Hanno Berger to eight years in prison in 2023. Later, the Wiesbaden district court imposed another prison sentence against Berger due to other CUM-EX offenses, which was considered the central architect of tax fraud.
dpa
Source: Stern
