Federal prosecutors, tax auditors, and financial officials launched a large-scale raid on Wednesday morning investigating suspected illegal stock trading activities. According to the Business Insider’s Thursday edition, the operation targeted a network connected to a Dutch fund manager. The Cologne public prosecutor’s office confirmed that searches were conducted across Germany and the Netherlands, specifically in locations including Amsterdam, the Utrecht province, and Frankfurt, Limburg, and Saxony-Anhalt. The investigators are supported by Dutch authorities. In addition to private residences and offices, a tax consulting firm suspected of involvement in Cum-Ex trades was also searched. A primary objective of the operation is securing emails and other forms of communication. The investigation concerns at least 15 suspects. The Cum-Ex model involved claiming tax refunds multiple times around a dividend cutoff date, even when taxes had only been paid once.
German Dutch Raids Target Suspected Illegal Share Trading Over Cum-Ex Scandal
