Deutsche Bank employees reportedly charged in tax evasion case
Frankfurt's public prosecutor's office on Thursday reportedly filed tax-evasion charges against eight people, believed to be former and current Deutsche Bank employees.
The accused were allegedly part of a €220m tax evasion scheme on carbon-emission certificates that took place between September 2009 and February 2010 and cost Germany hundreds of millions of euros.
The individuals had “in four to six cases provoked the bank to issue wrong value-add tax statements” and effectively misled internal control systems, the prosecutor said.
Although the prosecutor didn't name the bank involved, people familiar with the matter pointed to Deutsche Bank, as it had previously been involved in a similar case investigated in 2012.
The prosecutors also commented that the accused were between the ages of 33 and 64, and that a 57-year-old US-based Briton, who allegedly acted as ringleader in the case, would be extradited to Germany soon.
The bank emailed an statement saying the investigation into the CO2 situation was continuing.
“We are co-operating with authorities.”
Deutsche Bank is facing more than 7,000 lawsuits or regulatory investigations, and has paid about €9bn over the past few years to settle lawsuits and regulatory investigations.
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