Now it’s off to court! The criminal case for serious tax evasion with so-called cum-ex transactions against the Hamburg banker Christian Olearius is scheduled to begin in September.
On Tuesday, the Bonn Regional Court published a list of a total of 28 hearing dates for the proceedings against the long-standing head of the Hamburg Warburg Bank. The start of the process is therefore on September 18, the last follow-up date was scheduled for March 22, 2024.
Cum-Ex deals: Christian Olearius in court
Olearius is due to appear in court in 14 cases on allegations of particularly serious tax evasion. Behind the Cum-Ex scandal is possibly the most comprehensive system of tax evasion in German economic history. The state was cheated out of billions.
Investors moved blocks of shares back and forth around the dividend record date, hoping to get a refund from the IRS for capital gains taxes that were never paid.
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The Warburg Bank operated these businesses and according to the indictment, Olearius was instrumental in them. In this context, there are also allegations against Federal Chancellor Olaf Scholz (SPD): As the mayor of Hamburg at the time, he may have political influence on the financial authorities of the Hanseatic city so that the Warburg-Bank does not have to pay tax debts. It was about more than 170 million euros.
Several cum-ex trials have already taken place in Bonn – the regional court is responsible for processing the scandal. Just a few days ago, a former employee of a British wealth management company was sentenced to two years’ imprisonment on probation for aiding and abetting tax evasion. (dpa/mp)
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