Kai-Uwe Steck, a star witness who exposed the inner workings of the Cum-Ex scandal, was convicted and sentenced to a suspended jail term of one year and 10 months for his own role in the tax scheme.
Steck was guilty of involvement related to more than €428 million ($488 million) in losses to the German tax authorities, the Bonn Regional Court ruled on Tuesday. Because of his key part in exposing the scam, he can be spared jail, Presiding Judge Sebastian Hausen said when delivering the verdict.
Kai-Uwe Steck
Photographer: Thomas Banneyer/picture alliance/Getty Images
“The accused was the first stone to come loose,” Hausen said. “His ...
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