Ex-Investment Bankers Convicted in German Cum-Ex Case (2)

Two ex-bankers at Unicredit SpA’s HVB investment bank unit were convicted in a German Cum-Ex trial, but were spared jail after judges handed the pair suspended sentences.

Judges in the German city of Wiesbaden on Tuesday found Andreas B. and Michael G. guilty for their roles in Cum-Ex deals that took place from 2006 to 2008. Both men can’t be identified in full under German law.

At the time of the transactions, Andreas B. worked in HVB’s family office in Munich and Michael G. executed the trades. The judges gave Andreas B. of two years which are suspended under ...