Ex-Bank CEO’s Cum-Ex Bill Raised to €5.6 Million in Germany (1)

Germany’s top criminal court almost doubled the amounts of illicit profits a former chief executive officer of a defunct investment bank and other ex-managers must repay for their roles in the sprawling Cum-Ex tax scandal that’s cost the nation billions of euros.

Frankfurt prosecutors won an appeals court ruling toppling that part of the sentences against ex-Maple Bank GmbH CEO Wolfgang Schuck, 71, and three other bankers, according to a court statement from the Federal Court of Justice in Karlsruhe. The trial court had cut income tax from the amount the men had to give up but was now ...