-
Six bankers got $33 million in bonuses in alleged German tax fraud: prosecutor
Six former bankers accused of involvement in an illegal trading scheme in Germany earned $33 million in bonuses from the alleged fraud, prosecutors said on Monday. The detail on the bonuses was part of an official announcement by Frankfurt prosecutors that they had filed charges against the bankers and a tax lawyer in a multi-million-euro trading scheme known as “cum-ex”. Prosecutors, in announcing the charges for the scheme that they said cost the state 389 million euros in lost taxes, didn’t name the bank or law firm that employed the individuals. But sources have said the bank was Maple Bank, a now-defunct ... (full story)