Investigators searched the offices of Deka-Bank in Frankfurt on Tuesday as part of cum-ex investigations. Deka-Bank confirmed this on Wednesday. The Cologne public prosecutor’s office, which is investigating several financial institutions for suspected cum-ex transactions, was initially unavailable for comment. The Bloomberg finance agency first reported on the raid at Deka. With the so-called cum-ex share transactions, investors could have a once-paid capital gains tax on share dividends reimbursed twice by the tax office. To do this, they shifted shares with (cum) and without (ex) dividend entitlement around the cut-off date for the payment of the dividend.
Finances – Raid on Deka Bank – Economy
