Maple Bank
More ex-bankers charged with CUM-EX AktitingALs
For years, investors banged the state with opaque stock transactions by billions. Large: the Maple Bank. Investigators want to bring three former top managers from the institute to court.
The Frankfurt judiciary drives the criminal lawsuit of Cum-Ex-Aktiendals at the expense of the state treasury. The Attorney General in Frankfurt has charged three other ex-managers of the Canadian Maple Bank Group for suspected severe tax evasion.
According to the General Prosecutor’s office, the Maple complex is concerned with false tax certificates, with which the bank was wrongly reimbursed 374 million euros for the years 2006 to 2009.
The institute with Canadian roots was closed by the Bafin financial supervision in 2016 because the money house threatened to over-indebtedness due to a provision to CUM-EX transactions.
Ex-boss should be on an dock
In CUM-Ex-deals that had their high phase between 2006 and 2011, investors used a lawyer: shares involved with (CUM) and without a (ex) distribution claim were pushed back and forth. The confusion made tax offices to reimburse unpaid taxes. In 2012 the state closed the loophole. In 2021, the Federal Court of Justice (BGH) decided that CUM-EX transactions should be assessed as tax evasion.
According to the information, one of the three accused is the then head of the parent company, who was also the chairman of the supervisory board of the German Maple subsidiary. The 67-year-old is said to have been “involved in the planning and implementation of the cum/ex-business at an early stage” and have approved them. A 64-year-old Brit and a 57-year-old German are also accused.
Some former Maple bankers have already been sentenced to several years of prison. In addition, further procedures for the CUM-Ex complex run.
dpa
Source: Stern
