Cologne prosecutors have submitted a new charge in the Cum-Ex scandal to the Bonn Regional Court.
(Photo: Ulrich Baumgarten / vario images)
Dusseldorf The Cologne public prosecutor has submitted a new charge in the cum-ex scandal to the Bonn district court. According to information from the Handelsblatt, it is aimed at Günter G., fund manager at the Luxembourg company Sheridan. He is said to have been involved in deals that would have cost the German state almost half a billion euros. A spokeswoman for the regional court confirmed that charges had been received, but did not want to give any further information.
Cum-Ex refers to a method of trading stocks for the purpose of tax evasion. The parties involved deceive the tax authorities in such a way that they reimburse capital gains tax that has only been paid once twice. Because it is about shares with (cum) and without (ex) dividend entitlement, the Latin term has become established.
According to the findings of the investigators, Günter G. belonged to a group of banks, investors and lawyers who relied on the illegal cum-ex deals. The indictment is about deals from 2011. Until then, G. had had a successful career.
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