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The Cologne public prosecutor's office is preparing new charges related to the Cum-Ex tax scandal, focusing on Deutsche Bank and former WestLB, amid ongoing investigations involving around 1,700 suspects. The authorities aim to prevent the statute of limitations from expiring, although it has already lapsed in some cases. The scandal, which involved banks facilitating multiple refunds of capital gains tax on dividends, has resulted in significant financial losses for the German state.
German Chancellor Olaf Scholz faces scrutiny over his ties to the €36 billion "cum-ex" tax fraud scandal as he prepares for a parliamentary investigation. Critics question whether he adequately addressed allegations involving HSH Nordbank during his tenure as Hamburg's mayor, amid concerns about the effectiveness of ongoing investigations into financial crimes. The situation complicates Scholz's political standing ahead of the February election, with his coalition recently collapsing.
Anne Brorhilker
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Cologne prosecutor prepares new charges in ongoing cum-ex tax scandal
13:52 22.01.2025
Germany's Tax Fraud Scandal Deepens as Scholz Faces Scrutiny Ahead of Election
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