Dusseldorf Since Tuesday, around 130 public prosecutors, tax investigators and police officers have searched the offices of the major French bank BNP Paribas in Frankfurt and the private homes of suspects in Hesse, North Rhine-Westphalia and Rhineland-Palatinate. The reason: The bank is said to have been involved in so-called cum-ex deals. The term describes a method of stock trading in which those involved had their taxes reimbursed twice.
A spokesman for the Cologne public prosecutor’s office confirmed the raid when asked: “The measures are related to the cum-ex transactions that are the subject of the proceedings and related tax evasion models and are used in particular to find relevant communication in the form of emails and other written correspondence.”
The investigation is currently directed against 58 suspects who worked or work for the bank or its subsidiaries or group companies. From the environment of the BNP it was said that one cooperates with the authority. The bank did not respond to a request at short notice.
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