Tax evasion: Charitably deceived the state? Prosecutor's office charges five bankers in new tax scandal
Frankfurt investigators have brought charges in a special case of tax evasion: According to this, the state was to be cheated with the help of an art company and a Munich bank.
The Frankfurt public prosecutor's office has charged five individuals with tax evasion related to stock trades worth €3.8 billion. The accused, including two former executives of Dero Bank and three employees of a London-based investment advisory firm, allegedly helped a supposedly charitable organization called Kunstraum avoid paying €37 million in taxes.
The scheme involved trading stocks around dividend payout dates in 2016 and 2017, and was similar to the Cum-Ex deals that were popular before 2011. The defendants include Andreas Grosjean, Alexander L. and three others.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
