Barclays and BoA offices in Frankfurt searched for cum-ex evidence
31 March 2022 Germany
Image: AdobeStock/engel.ac
The Frankfurt office of Barclays was searched on Tuesday on the instruction of the Cologne public prosecutor’s office.
As we noted in our recent analysis of cum-ex and cum-cum investigations in Securities Finance Times Issue 299, the German public prosecutor, working in cooperation with the tax authorities, has stepped up its efforts to investigate and recover losses sustained as a result of alleged cum-ex transactions.
This evidence gathering visit to Barclays by the Cologne public prosecutor follows an earlier search of Bank of America’s offices in Frankfurt last week, according to reports in the German newspaper Handelsblatt.
The prosecutor’s office indicated that it had issued search warrants against a banking organisation and an audit company in Frankfurt, as well as instructing the search of two private houses.
As we noted in our recent analysis of cum-ex and cum-cum investigations in Securities Finance Times Issue 299, the German public prosecutor, working in cooperation with the tax authorities, has stepped up its efforts to investigate and recover losses sustained as a result of alleged cum-ex transactions.
This evidence gathering visit to Barclays by the Cologne public prosecutor follows an earlier search of Bank of America’s offices in Frankfurt last week, according to reports in the German newspaper Handelsblatt.
The prosecutor’s office indicated that it had issued search warrants against a banking organisation and an audit company in Frankfurt, as well as instructing the search of two private houses.
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