Tax evasion – BGH confirms cum-ex judgment – Economy

In the scandal surrounding cum-ex stock transactions, the Federal Court of Justice (BGH) has confirmed another judgment. The Bonn Regional Court had sentenced a senior employee of the Hamburger Warburg Bank to five and a half years in prison for tax evasion in five cases. He signed documents with incorrect information or approved drafts for signature despite incorrect information. As a result, the tax office wrongly paid more than 168 million euros to the private bank. The BGH in Karlsruhe now rejected the appeal of the accused. The procedure is thus legally concluded. In cum-ex deals, investors used a loophole in the law to cheat the state out of money for years. The state suffered billions in damage.

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