Banking Law News

London Cum-Ex Arrests ‘Tip of the Iceberg’ as Brexit Looms (1)

July 14, 2020, 10:44 AM

A few months after a landmark trial in the sprawling German Cum-Ex scandal, the multi-billion dollar tax probe is showing no signs of slowing down.

The arrest warrants issued for Duet Group Chief Executive Officer Henry Gabay and another official at the London hedge fund company may have been the first sign that prosecutors are accelerating their probe as they faced looming deadlines from a 10-year statute of limitations and Brexit.

“It is the tip of the iceberg,” said Aziz Rahman, a London lawyer who represents people caught up in the Cum-Ex probes. “It wouldn’t be just Duet, there will...

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