{"id":61482,"date":"2026-08-20T07:16:36","date_gmt":"2026-08-20T11:16:36","guid":{"rendered":"https:\/\/newssprinters.com\/index.php\/world\/germany-charges-four-men-over-e20m-tax-evasion-in-cum-ex-scandal\/20\/08\/2026\/"},"modified":"2026-08-20T07:16:36","modified_gmt":"2026-08-20T11:16:36","slug":"germany-charges-four-men-over-e20m-tax-evasion-in-cum-ex-scandal","status":"publish","type":"post","link":"https:\/\/newssprinters.com\/index.php\/world\/germany-charges-four-men-over-e20m-tax-evasion-in-cum-ex-scandal\/20\/08\/2026\/","title":{"rendered":"Germany charges four men over \u20ac20m tax evasion in cum-ex scandal"},"content":{"rendered":"

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FILE PHOTO – A view of row of files at the courtroom. (is associated with: \u00abGermany charges four men over \u20ac20m tax evasion in cum-ex scandal\u00bb) Andreas Arnold\/dpa Pool\/dpa <\/figcaption><\/figure>\n

Germany has brought charges against four former employees of Commerzbank on suspicion of serious tax evasion linked to the cum-ex fraud scandal. <\/p>\n

The Frankfurt Public Prosecutor’s Office said on Thursday the four men – two British nationals aged 66 and 59, a 61-year-old German and a 60-year-old US citizen – are responsible for tax losses amounting to more than \u20ac20 million ($23.4 million). <\/p>\n

Cum-ex, which peaked between 2006 and 2011, was a complex share-trading scheme around dividend dates in which financial actors claimed refunds or credits for dividend tax that had not actually been paid, causing major losses for tax authorities. <\/p>\n

Germany was particularly badly hit, with the country estimated to have suffered tax losses running into the tens of billions of euros. <\/p>\n

The latest case concerns share transactions in 2008. The four bankers are alleged to have developed, authorized and implemented the cum-ex transactions “in conscious and deliberate collusion.” Two were working in Frankfurt at the time of the offences, whilst the other two were in London. <\/p>\n

Commerzbank declined to comment on the substance of the case. “We do not comment on proceedings against third parties,” a spokesman said in response to an enquiry. “Commerzbank is not itself a party to the proceedings.” <\/p>\n

Various public prosecutor’s offices in Germany have been investigating the cum-ex scandal for years. Twelve defendants have already been convicted by courts in Frankfurt and Wiesbaden. <\/p>\n

The Frankfurt-based authority is still investigating Cum-Ex in 10 “extensive sets of proceedings” against a total of 39 accused individuals. <\/p>\n<\/p><\/div>\n

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FILE PHOTO – A view of row of files at the courtroom. (is associated with: «Germany charges four men over €20m tax