It’s about 428 million euros in taxes that are said to have been evaded: Another major cum-ex trial begins at the Bonn regional court on November 21st. According to the court, the defendant is a lawyer who previously worked in Germany.
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The Cologne public prosecutor’s office accuses him of particularly serious tax evasion in eight cases between 2007 and 2015, as the regional court announced. The man is said to have committed it together with others who are being prosecuted separately or have already been convicted. Of the eight cases, three remained in the experimental stage. According to the relevant chamber’s current planning, a total of 24 days of negotiations are planned until February 14, 2025 in the main proceedings with the file number 62 KLs 1/24.
Charges were filed two years ago
“As one of the central players in the cum/ex market with German equity securities, the defendant is said to have carried out tax-damaging cum/ex transactions with various participants on a significant scale together with an accomplice who has already been legally convicted,” the court explained. According to the indictment, the defendant is said to have been an expert in investment law, particularly dealing with the establishment of complex fund structures.
The defendant’s activities are said to have resulted in the reimbursement of capital gains tax that had not previously been paid. “According to the indictment, the amount is said to be around 428,000,000.00 euros.” The indictment by the Cologne public prosecutor’s office is dated July 1, 2022 (212 Js 1/23).
In cum-ex transactions, investors moved shares back and forth around the dividend record date with (“cum”) and without (“ex”) dividend entitlement. As a result, tax offices refunded capital gains taxes that had not been paid. The state and thus the general public were cheated out of a sum in the double-digit billion range. The investigation and prosecution are likely to take years.
It’s about 428 million euros in taxes that are said to have been evaded: Another major cum-ex trial begins at the Bonn regional court on November 21st. According to the court, the defendant is a lawyer who previously worked in Germany.
The Cologne public prosecutor’s office accuses him of particularly serious tax evasion in eight cases between 2007 and 2015, as the regional court announced. The man is said to have committed it together with others who are being prosecuted separately or have already been convicted. Of the eight cases, three remained in the experimental stage. According to the relevant chamber’s current planning, a total of 24 days of negotiations are planned until February 14, 2025 in the main proceedings with the file number 62 KLs 1/24.
