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5 clusters · 23 sources · 40 days · First seen · Last updated

German Cum‑Cum and Cum‑Ex tax scheme investigations

Overview

Germany’s financial regulator BaFin estimates that institutions involved in Cum‑Cum and related Cum‑Ex dividend‑tax schemes could face total liabilities of approximately €7.01 billion. This figure includes €4.82 billion from Cum‑Cum arrangements and €2.20 billion from Cum‑Ex transactions. The assessment covers 73 banks, 21 insurers, and 12 securities‑service firms, with roughly 59% of the total already paid. While the Federal Court ruled in 2021 that Cum‑Ex constitutes criminal tax evasion, Cum‑Cum remains legally ambiguous. BaFin has stated it will deepen examinations of governance, tax‑risk management, and the role of senior executives at affected firms.

Prosecutors have conducted raids at Deutsche Bank’s Frankfurt headquarters and a Berlin branch, targeting its former Postbank subsidiary over alleged Cum‑Cum transactions between 2008 and 2010. The investigation, involving the Federal Criminal Police Office (BKA) and the Düsseldorf public‑prosecutor’s office, has also included searches of a Postbank office in Bonn. Investigators have linked the case to sanctioned Russian billionaire Roman Abramovich and allege that Deutsche Bank delayed required suspicious‑transaction reports. Deutsche Bank maintains it is cooperating fully and is being examined only as a successor to Postbank.

Efforts to recover funds are ongoing. A report from the Federal Ministry of Finance indicates that tax recoveries for Cum‑Ex cases have reached approximately €3.57 billion across 208 concluded cases, while €840 million has been reclaimed or denied in 96 finalized Cum‑Cum cases. In a separate development, the Frankfurt Public Prosecutor's Office filed charges against four former Commerzbank employees for suspected tax evasion involving losses exceeding €20 million. Despite these recoveries, critics note the amounts remain a fraction of the estimated total damage, which some officials place as high as €28 billion.

Entities

German Federal Ministry of Finance · Commerzbank · Frankfurt Public Prosecutor's Office · Marion Hohenecker · Germany

Timeline

  1. 6 days ago

    [BUSINESS] 2 sources
    Germany increases recoveries in Cum-Ex and Cum-Cum tax fraud investigations

    Germany sees rising recoveries in Cum-Ex and Cum-Cum tax fraud cases, while prosecutors charge four former Commerzbank employees for a 20 million euro tax evasion scheme.

  2. 9 days ago

    [BUSINESS] 9 sources
    Germany recovers billions in Cum-Ex and Cum-Cum tax fraud cases

    Germany has recovered over 3.5 billion euros in Cum-Ex tax cases, while prosecutors have charged four former Commerzbank employees with serious tax evasion involving 20 million euros.

  3. about 1 month ago

    [BUSINESS] 2 sources
    Deutsche Bank probed for alleged “cum‑cum” tax‑fraud scheme linked to Roman Abramovich

    German prosecutors searched Deutsche Bank’s Frankfurt and Berlin sites over a “cum‑cum” tax‑fraud scheme at Postbank, involving billions of euros and Russian billionaire Roman Abramovich; the bank is said to be

  4. about 1 month ago

    [CRIME] 10 sources
    Deutsche Bank hit by tax‑fraud probe into Cum‑Cum trades

    German prosecutors raided Deutsche Bank’s Frankfurt office over alleged Cum‑Cum tax‑evasion trades by Postbank (2008‑2010), prompting full cooperation from the bank and estimates of billions‑euro losses.

  5. about 2 months ago

    [BUSINESS] 2 sources
    BaFin estimates €7 billion tax‑scheme losses for German banks, insurers and securities firms

    BaFin says German banks, insurers and securities firms face about €7 billion in losses from Cum‑Cum (€4.8bn) and Cum‑Ex (€2.2bn) tax schemes, with 59% already paid.

Sources

cafebiz.vn · cash.ch · conterest.de · drweb.de · epochtimes.de · eu-schwerbehinderung.eu · finanzen100.de · finanznachrichten.de · fortunegreece.com · gazetepencere.com · innpoland.pl · it-boltwise.de · kurier.at · m.kenh14.vn · mobil.zeit.de · mononews.gr · n-tv.de · oldenburger-onlinezeitung.de · op-online.de · radioosnabrueck.de · thewrestlingnetwork.com · wochentlich.de · wz.de