Another criminal case began on Thursday at the Bonn Regional Court for illegal stock group transactions around the dividend date (“cum-ex”).
A former employee of Warburg Invest, a subsidiary of the Hamburg private bank of the same name, finds himself in the dock.
The accusations made against him by the Cologne public prosecutor are already known from the indictment in the first cum-ex criminal trial.
The investment manager is said to have helped set up funds with the names "BC German Equity" and "BC German Hedge", which enabled wealthy investors to trade shares in 2009 and 2010.
BHF Asset Servicing GmbH and Deutsche Ärzte- und Apothekerbank acted as custodian banks.
The tax authorities are said to have suffered damage of 150 million euros as a result of the multiple refunds of capital gains tax.
For the trial, the 12th major criminal chamber in Bonn has initially scheduled 16 hearing dates until mid-January 2022.
In June the judges sentenced a former general agent of the private bank M. M. Warburg to a prison term of five and a half years for tax evasion.
The judgment is not yet final and can be overturned by the Federal Court of Justice.Keywords: