Gigantic tax: State investigating former manager of WestLB – n-tv.de NEWS

 Economy
 

 Thursday, May 12, 2016

 
 
 

 
 Prosecutors Dusseldorf investigation for Cum Ex transactions of WestLB. The former Landesbank to have defrauded the Treasury. The country clarifies: We pursue tax evasion with all its consequences – no exceptions .
 

 
 

The prosecution Dusseldorf has commenced an investigation for questionable stock deals WestLB for information from “Süddeutsche Zeitung”, NDR and WDR. The former Landesbank of North Rhine-Westphalia is said to have cheated with counterparties the Treasury. The criminal proceedings in Dusseldorf directed against former employees of WestLB, which are registered as suspects.

When trading of shares (Cum) and without (Ex) dividend have WestLB and former Cum-Ex-Partner be a capital gains tax only once paid to the tax refund repeatedly alleged. Many banks and funds from home and abroad are under suspicion of having stolen in this way a total of more than ten billion euros from the state treasury. Prosecutors from Munich to Berlin now operate 20 criminal proceedings for alleged tax evasion in especially serious cases. Among the banks, who are affected by such a process, now includes the former WestLB

NRW Finance Minister Norbert Walter-Borjans (SPD) said. “We in North Rhine-Westphalia pursue fraud with the utmost determination case. there is no special treatment for state-owned companies. “

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The WestLB had been handled and split after numerous scandals and losses in the billions four years ago. Part of the transactions took Portigon AG, which also belongs to the state of NRW. Stresses The Portigon, you’ll work closely with prosecutors Dusseldorf and assist in the investigation. Among the accused in the criminal proceedings reportedly are by no employees of Portigon.

The state of NRW has six months ago purchased by an informant for five million euros a CD, the data on dubious Cum Ex Deals contains more than 100 banks and investment funds. The CD also found information about Cum Ex operations of the former WestLB, which were evaluated by the tax investigation Dusseldorf. The tax inspectors came to the conclusion, if it were highly suspicious deals that would need to be further elucidated. This is now taking the prosecutor Dusseldorf.

  Source: n-tv.de
 

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