Insiders assign the Belgian-Dutch financial group a central role in the cum-ex scandal.
(Photo: 𧋴Px Unreleased Plus/Getty Images)
Dusseldorf Tall, well dressed and always exceedingly polite. Former colleagues of Frank H. describe the money manager as the calm itself, even on stormy business days. “He always performed his tasks accurately, especially the cum-ex trades,” says a former employee. “He was the perfect employee and always happy to fly under the radar.”
The times are over. Cum-Ex is an illegal method of trading stocks for the purpose of tax evasion. Frank H. was wanted on an international arrest warrant. On July 20, 2022, the Spanish criminal police arrested him at his escape from Mallorca. The extradition to Germany followed on July 29, since then H. has been in custody in a Hessian correctional facility.
The Frankfurt Public Prosecutor’s Office has now brought charges against him at the Frankfurt Regional Court. There is a suspicion of tax evasion in two particularly serious cases. The prosecutors see H. as one of the key figures in the cum-ex scandal.
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