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Warburg building in Hamburg

Photo: IMAGO/Hanno Bode

The Hamburg tax authorities are subsequently demanding 98.6 million euros in taxes from the private bank Warburg from so-called-transactions with shares. A spokeswoman for the bank confirmed that the tax office had issued a "notice of additional demand". It is about the years 2011 to 2014. The bank lodged an objection, whereupon enforcement was suspended. The sum has not yet been paid.

In the scandal over similarly designed-ex transactions, which are illegal according to the Federal Court of Justice, Warburg has already repaid 176 million euros plus interest to the Hamburg tax authorities. Two Warburg bankers were sentenced to prison terms.

In the case of-transactions, the legal assessment is controversial. Warburg Bank had already emphasized in a report last year that it had acted exclusively for an investor in the case in question. In case of doubt, the investor must be responsible for it. The Hamburg tax authorities do not want to comment on the Warburg case. In principle, however,-transactions could "develop criminal relevance".