Germany, 4th largest economy by GDP in 2020
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Japan Nomura Bank in Germany Raided by Germany Prosecutors for Investigation into Tax Dividend Scandal, Joins Recent Investigations on Deutsche Bank, Morgan Stanley, SEB & Investec Bank

27th April 2023 | Hong Kong

Japan Nomura Bank in Germany (Frankfurt) had been raided by Germany prosecutors for investigation into tax dividend scandal, joining recent investigations on Deutsche Bank, Morgan Stanley, SEB & Investec Bank.  In an ongoing trial, Vijaya Sankar (former employee at Duet Group, Asset Manager) organised Cum-Ex deals in 2010 for a €11 billion investment fund (Varengold Wertpapierhandelsbank AG), a strategy that claimed $100 million of refunds on tax, taking advantage of a Germany dividend tax loophole.  More info below. 

” Japan Nomura Bank in Germany Raided by Germany Prosecutors for Investigation into Tax Dividend Scandal, Joins Recent Investigations on Deutsche Bank, Morgan Stanley, SEB & Investec Bank “

 



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Morgan Stanley, SEB & Investec Bank Named in Germany Government $100 Million Tax Scam by Claiming Refunds on Tax

Germany, 4th largest economy by GDP in 2020

25th March 2023 – Morgan Stanley, SEB & Investec Bank had been named in the Germany government $100 million tax scam by claiming refunds on tax.  In an ongoing trial, Vijaya Sankar (former employee at Duet Group, Asset Manager) organised Cum-Ex deals in 2010 for a €11 billion investment fund (Varengold Wertpapierhandelsbank AG), a strategy that claimed $100 million of refunds on tax, taking advantage of a Germany dividend tax loophole.  In 2022 October, Germany police raided Germany’s largest bank Deutsche Bank headquarters & homes of employees including former co-CEO (Juergen Fitschen) for investigation in a multi-billion tax fraud, with billions of government revenues siphoned.  Germany Cologne Prosecutors: “More than 114 police and tax inspectors took part in the raids.”  The tax fraud involves declaring non-existing stock dividend and requested for Germany government to reimburse taxes that were never paid in the first place.  Since 2017, the Cologne Public Prosecutor’s Office had been conducting the tax fraud investigation, including with more than 70 current & former Deutsche Bank employees.  In 2021, the Germany highest court had ruled the transactions illegal.   More info below.

 

 

Morgan Stanley, SEB & Investec Bank Named in Germany Government $100 Million Tax Scam by Claiming Refunds on Tax

In 2022 October, Germany police had raided Germany’s largest bank Deutsche Bank headquarters & homes of employees including former co-CEO (Juergen Fitschen) for investigation in a multi-billion tax fraud, with billions of government revenues siphoned.  Germany Cologne Prosecutors: “More than 114 police and tax inspectors took part in the raids.”  The tax fraud involves declaring non-existing stock dividend and requested for Germany government to reimburse taxes that were never paid in the first place.  Since 2017, the Cologne Public Prosecutor’s Office had been conducting the tax fraud investigation, including with more than 70 current & former Deutsche Bank employees.  In 2021, the Germany highest court had ruled the transactions illegal. 

Earlier in June 2022, Deutsche Bank independent asset management group DWS ($970 billon AUM) CEO Asoka Woehrmann resigned (9/6/22) after police raided DWS office in a greenwashing probe (false or misleading claims about the environmental benefits of a product, service, technology).




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