Insiders assume that the investigation will reduce Thomas Book’s chances of taking over the top position.
(Photo: dpa)
Frankfurt, Dusseldorf The Cologne public prosecutor is investigating suspected tax evasion against one of the most important managers at Deutsche Börse: Board member Thomas Book is suspected of being involved in allegedly illegal cum-ex stock transactions. The Handelsblatt learned this from several people familiar with the topic.
With cum-ex deals, banks and investors have exempted the state for years. Through transactions around the dividend record date, they had capital gains tax that had only been paid once reimbursed several times. Many of these transactions were processed via the systems of Deutsche Börse.
>> Read here: What is behind the Cum-Ex business model
Book has been on the board of Germany’s largest stock exchange operator since July 2018. There, the 52-year-old is responsible for the most important group division, “Trading & Clearing”. This contributed more than half of the operating profit of the entire group last year.
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