The Federal Court of Justice (BGH) has partially overturned a decision of the Bonn Regional Court in connection with the Cum‑Ex scandal. The BGH stated that the seizure of €40 million in taxable earnings from Cum‑Ex transactions involving the former Warburg Bank chief Christian Olearius must be reviewed again.
According to the indictment, Olearius is accused of deliberately submitting false corporate tax returns for the periods 2007 to 2011. These filings allegedly granted the Warburg Bank unjustified tax benefits amounting to more than €161 million. The regional court had previously discontinued the case against Olearius on the basis that he was permanently unable to participate in the trial. A prosecutor’s request to shift the matter to a separate seizure proceeding was denied.
The BGH cancelled that ruling and referred the case back to a different criminal chamber of the regional court for a fresh assessment. That new chamber will determine whether the seizure of the defendant’s earnings can be ordered. The earlier judgment that dismissed the prosecution due to the defendant’s inability to participate remains final (verdict dated 18 March 2026 – 1 StR 97/25).