Tax evasion: Income millionaires in need of explanation

Cologne Since September 2021, a number of income millionaires have been in a state of excitement. Three public prosecutors are investigating possible tax evasion: around 50 investors are suspected, as well as a number of financial advisors. The assumed total damage is said to be around half a billion euros. Handelsblatt research now paints a clearer picture of how the system was developed and how it worked.

None of the accused expected to come into conflict with the law. According to the findings, they relied on the advice of the Co-Invest group of companies from Planegg near Munich, which sold them the “bull and bear strategy” as a recipe in order to legally reduce their tax burden.

A tax advisor from the Hochtaunus district wrote a corresponding report, and a professor from a private university agreed with him. Co-Invest did not respond to inquiries about this.