German bank employees threatened in CO2 Process prison – Reuters Germany

Frankfurt Deutsche Bank employees have ignored the multi-million dollar fraud involving pollution rights by the Frankfurt prosecutor considers for profit all warning signs deliberately.

“We do it all just because we schweinisch earn lots of money with it,” quoted chief prosecutor Thomas Gonder one of the defendants account manager on Monday before Frankfurt Landgericht from a conversation with colleagues. Seven former and current employees of the largest German bank in age from 34 to 65 years old sitting since Monday for alleged “gang-fraud” in the dock. You have seven months made despite repeatedly emerging doubts shops with dubious dealers this only drove to defraud the tax authorities in the tax, Gonder said.

2. Large Business trial Chamber attempted to clarify the role played by the institution in a VAT carousel, with the 2009 and 2010 a total of 220 million euros were evaded in taxes in the process. The fraudulent merchant had the German Bank weighed heavily in their process four years ago. They were received with open arms – unlike other banks. The money house had promoting trade with CO2 pollution rights taken up the cause, as the federal government, the certificates in 2009 distributed to the industry.

A by the court in advance this week placed reduce possible penalties in return for full confessions of the defendants refused Gonder. There is after the commencement of the trial too late. The confessions were unnecessary in view of the evidence. “We need that at the moment no more.” The presiding judge Martin Bach had put in a preliminary for four of the accused suspended sentences and fines in view. Only the higher-ranking bankers should come between two and a half years and three years and nine months behind bars. Two defendants are still on the payroll of the Bank, but are suspended. The then highest-ranking banker is now in retirement.

” INCORRECT RISK ASSESSMENT “

Bach had already performed the first procedure in which six merchants – mostly broken lives – to long 2011 imprisonment were convicted. The newly introduced trading had attracted fraudsters who made use of the fact that the papers were subject to VAT. They led the certificates exempt from abroad and sold them for as long until the Treasury supposedly lost the track. Then they made the tax office contends that had never been paid. At the end of the papers were always sold to the German bank, which they transferred abroad.

According to the indictment suspected the bankers that the traders so unfair intentions pursued, particularly since the scam was already known from abroad. Because the shops only counted when they moved the tax refund into the equation. Gonder accused the higher-ranking defendants, they had never really been concerned to prevent VAT fraud, but rather to continue the lucrative for banking transactions. The own superiors they have only sketchy information. Richter Bach said you can blame the bankers, at least, is to have a “inaccurate risk assessment” formed and maintained or to have supported this.

At the beginning of the process had the judge with a flood of applications embarrassment faced seen. Four of the accused throw Bach before, he had prejudged in a ZDF broadcast on the scandals at Deutsche Bank. Bach still wants to negotiate the time being. At least six of the defendants wish to submit comments on Thursday to charges. Until the end of May so far 26 days of hearings are scheduled, the first witnesses are to be heard in mid-March.