Has eight employees a major Frankfurt bank the prosecutor in his sights for fraud in pollution rights.
The Frankfurt Justice accuses the scandal of tax fraud in the trading of pollution rights for the first time Deutsche Bank employees to. The Prosecutor General’s Office Frankfurt raises seven current employees and former employees of the largest German money house before serious gang-evasion. It goes after notification of the Authority from Thursday at a loss of 220 million euros.
The German bank said: “Our study of the CO2 facts is ongoing and it includes all the relevant facts that come into question.” The bank confirmed that it cooperating with investigators. Previously, the “Süddeutsche Zeitung” reported on the prosecution.
The accused are alleged to have participated in a VAT carousel: A group of offenders had the German government cheated turnover in the period between August 2009 and April 2010 when trading rights for emissions of climate-damaging carbon dioxide (CO2) by a total of around 850 million euros. About German companies emission rights were purchased from abroad and resold domestically through intermediate companies, without paying sales tax. The respective last company in the chain should have redistributed the securities abroad. In return, the scammer could refund from the tax office turnover, which had never been paid.
The German bank employee at age 33 to 64 years helped convinced the prosecutor’s office from September 2009 to February 2010, to keep the VAT carousel running. They should have bought, among others CO2 certificates, which originated in the fraud chain below the market price and have internal control bodies of the Bank informed incomplete suspicions with other trading parties. So an end to the fraudulent transactions had been prevented.
The group comprises the accused were in different functions: As a business account managers, commodity trader, employees of commercial department or the tax department of the Bank. The highest-ranking among them, the 64-year-old team leader, should have promoted lucrative for its department stores. He is now retired, the seven other defendants were suspended during the proceedings of the Bank. The Prosecutor General’s Office found in the complex by its own account moreover continue set against 15 German Bank employees, three methods were, according to a Justice spokesman against cash payment.
More had become public on the subject
the case by a raid at Deutsche Bank in April 2010. In a first process 2011 has found that many traders unwound business on the German market leader. Six bank clients were sentenced to prison terms ranging from three years and seven years and ten months of res judicata for serious tax evasion. In three other processes, there were more convictions -. Mostly against interim CEO of the company or backers
After a sensational raid of the German Bank headquarters in Frankfurt shortly before Christmas 2012 became known, were that German Bank Co-CEO Juergen Fitschen and the chief financial officer of the Dax Group, Stefan Krause, come to the attention of investigators , The two managers had the – signed tax return of the Institute for 2009 – later corrected. In spring 2015, the German had declared: “The Prosecutor General’s Office Frankfurt has confirmed Deutsche Bank that the transmitted data from the Bank on April 24, 2015 documents give in CO2 investigation no cause for the opening of proceedings against directors.”
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