JPMorgan's Frankfurt offices raided as part of 'cum-ex' tax probe - Bloomberg News
JPMorgan Chase & Co's Frankfurt offices are being raided by German authorities as part of their vast probe into "cum-ex" transactions, Bloomberg News reported on Wednesday. We continue to cooperate with the German authorities on their ongoing investigation," a JPMorgan spokesperson told Reuters in an emailed statement. A spokesman for Cologne prosecutors confirmed to Bloomberg a raid was taking place in Frankfurt but declined to identify the target.
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- Germany
JPMorgan Chase & Co's Frankfurt offices are being raided by German authorities as part of their vast probe into "cum-ex" transactions, Bloomberg News reported on Wednesday. "We can confirm that our Frankfurt offices were visited this week. We continue to cooperate with the German authorities on their ongoing investigation," a JPMorgan spokesperson told Reuters in an emailed statement.
A spokesman for Cologne prosecutors confirmed to Bloomberg a raid was taking place in Frankfurt but declined to identify the target. (https://bloom.bg/3Q3tHgs) The cum-ex scandal is Germany's biggest post-war fraud involving a share-trading scheme that the authorities say cost taxpayers billions of euros. A large number of banks were involved in the cum-ex deals, with raids being conducted on the German branches of Barclays and the investment bank Merrill Lynch in the last few months.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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- Cologne
- Germany
- Frankfurt
- Bloomberg
- Bloomberg News
- Merrill Lynch
- German
- JPMorgan
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