Five Bankers Must Stand Trial in First German Cum-Cum Case

Five German ex-bankers must stand trial over their involvement in Cum-Cum tax deals struck more than twenty years ago at Deutsche Pfandbrief after a Frankfurt appeals court overturned a decision throwing out the case.

The charges are rooted in tax-driven deals that took place between 2004 and 2006, according to the Frankfurt ruling. Prosecutors investigated the transactions and filed charges in September 2021. A court ruled in February last year that it won’t go to a trial. Prosecutors appealed and the Frankfurt judges sided with them.

It’s the first known criminal case linked to Cum-Cum deals to be tried ...