Olaf Scholz is coming under pressure because of previously unknown cum-cum transactions
The damage amounts to up to 275 million euros. Previously unknown cum-cum deals are putting Chancellor Olaf Scholz and Hamburg Mayor Peter Tschentscher in need of explanation.
Cum-cum transactions by the former HSH Nordbank are putting Chancellor Olaf Scholz (SPD) and Hamburg Mayor Peter Tschentscher (SPD) in need of explanation. That’s what he reports star citing investigative files and internal documents.
According to the research, the tax authorities lost 275 million euros through cum-cum transactions by the former Landesbank of Hamburg and Schleswig-Holstein between 2003 and 2012. Such deals were legally controversial for a long time, but are now generally considered illegal. According to the magazine’s research, the bank’s cum-cum transactions were disclosed to the Hamburg tax authorities in 2017 at the latest. Nevertheless, according to the files, she has not yet asked for the money back. Both – the transactions and Hamburg’s waiver of a reclaim – were not yet publicly known.
Processing of Cum-Cum took place during Scholz and Tschentscher’s term of office
The transactions and their processing partly fall during Olaf Scholz’s term as mayor of Hamburg. His successor Tschentscher was Scholz’s finance senator at the time.
The Federal Chancellery is responding to the request starthat, as a matter of principle, one does not comment on events outside the Federal Chancellery. Peter Tschentscher and the Hamburg tax authorities referred to tax secrecy regarding the case. HSH Nordbank’s successor bank, HCOB, announced that an audit led to the conclusion “that the tax credits at that time were not objectionable. There was and is no need for correction.”
Scholz and Tschentscher have been under political pressure for some time because of the cum-ex scandal at HSH Nordbank and Warburg Bank. This Friday they are scheduled to testify again in the Parliamentary Committee of Inquiry.
According to expert calculations, the tax damage caused by cum-cum transactions amounts to a total of around 28 billion euros.
Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
