The bank has so far been taciturn about the Cum-Ex investigation.
(Photo: HSBC)
Dusseldorf Paul Hagen and his bank have been inseparable for more than 30 years. The manager was already working for the Düsseldorf money house when it was still called Trinkaus & Burkhardt and did not belong to the Hong Kong & Shanghai Banking Corporation (HSBC), an industry giant with global business and headquarters in London. Since 1987, Hagen’s career path has always led upwards. HSBC was also not bothered by suspected crimes.
According to information from the Handelsblatt, the Cologne public prosecutor’s office is investigating Hagen and other managers at HSBC Bank on suspicion of tax evasion in particularly serious cases.
Once again it is about so-called cum-ex deals. Those involved had taxes refunded that they had not paid at all. In addition, shares were traded in a circle around the dates of the general meetings of large German corporations in order to mislead the tax authorities. The banks fooled them into believing that there were two or more owners of a share.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue