Ex-Avana Partners’ €343 Million Cum-Ex Case Heads to Trial (2)

Two former partners of German asset management company Avana Invest GmbH must stand trial next month accused of involvement in Cum-Ex trades that cost the nation €343 million ($371 million).

The pair, who can only be identified as Götz K. and Thomas U., allegedly made €16 million from their activities, according to prosecutors. The trial will start on Nov. 7, a spokesman for the Munich tribunal said on Monday. Avana Invest collapsed amid wider scrutiny of the trading practice that’s embroiled hundreds of individuals including at some of the world’s biggest banks.

The indictment, filed last year, was the ...