Extradition of Hanno Berger approved by Swiss authorities
31 August 2021 Switzerland
Image: AdobeStock/gmcphotopress
The Swiss Federal Office of Justice has approved extradition of Hanno Berger, the German tax expert and lawyer accused of defrauding the German tax authorities through trading and tax improprieties commonly known as ‘cum-ex’.
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 his legal representative has indicated that they will appeal against the extradition.
Berger is accused of being at the heart of a tax avoidance scheme involving multiple investment bankers where, after trading shares between themselves, claims for return of withholding tax were filed by multiple parties. According to the German tax authorities, only one shareholder should legitimately have filed a tax reclaim.
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 his legal representative has indicated that they will appeal against the extradition.
Berger is accused of being at the heart of a tax avoidance scheme involving multiple investment bankers where, after trading shares between themselves, claims for return of withholding tax were filed by multiple parties. According to the German tax authorities, only one shareholder should legitimately have filed a tax reclaim.
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