Lawyer extradited to Germany to face cum-ex charges
25 February 2022 Germany
Image: AdobeStock/Weitsicht
Swiss authorities have extradited Hanno Berger, the German lawyer accused of defrauding the German tax authorities through ‘cum-ex’ trading and tax improprieties.
Berger was transferred to German police in the city of Konstanz, according to a statement from German prosecutors.
Berger’s extradition has been sought by the German state of Hesse, where he will make his initial appearance before a district court in coming weeks.
Berger was arrested in the Swiss canton of Grison in early July following a request for extradition from Germany.
The fraud is believed to be one of the largest of its kind in Germany, resulting in losses to the German tax authorities which are likely to exceed US$100 million but may be much higher.
Berger has repeatedly rejected the charges and opposed his extradition to Germany through his legal representatives.
Earlier this month, a former employee of private bank MM Warburg was sentenced to 3.5 years in prison for his role in cum-ex activities.
The former banker, known during the case as Defendant M, was convicted by the Bonn courts on two counts of tax evasion.
The court established proof that Defendent M, as manager within an investment company, was involved in the “planning and implementation of illegal ‘cum-ex’ deals” that resulted in tax losses to the German exchequer of an estimated €109 million.
Berger was transferred to German police in the city of Konstanz, according to a statement from German prosecutors.
Berger’s extradition has been sought by the German state of Hesse, where he will make his initial appearance before a district court in coming weeks.
Berger was arrested in the Swiss canton of Grison in early July following a request for extradition from Germany.
The fraud is believed to be one of the largest of its kind in Germany, resulting in losses to the German tax authorities which are likely to exceed US$100 million but may be much higher.
Berger has repeatedly rejected the charges and opposed his extradition to Germany through his legal representatives.
Earlier this month, a former employee of private bank MM Warburg was sentenced to 3.5 years in prison for his role in cum-ex activities.
The former banker, known during the case as Defendant M, was convicted by the Bonn courts on two counts of tax evasion.
The court established proof that Defendent M, as manager within an investment company, was involved in the “planning and implementation of illegal ‘cum-ex’ deals” that resulted in tax losses to the German exchequer of an estimated €109 million.
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