The private bank wrongly feels that it has been financially punished.
(Photo: dpa)
Dusseldorf The public prosecutor’s office in Bonn is demanding 190.6 million euros from the Hamburg bank MM Warburg and a British stock trader. As a spokesman for the authority confirmed to the Handelsblatt, they sent payment requests in the amount of 176.6 million euros to the Hamburg private bank. The stock trader Martin S. is to pay 14 million euros, of which he has already transferred three million in advance.
The background is business at the expense of taxpayers. Banks, tax lawyers and consultants of all kinds earned many millions of euros with stock trading using the Cum-Ex method. Those involved had more taxes refunded than they had paid: the transactions were particularly popular because of their high returns and lack of risks.
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