trending Market Intelligence /marketintelligence/en/news-insights/trending/2ntcGM3PZY17EVlraff4BQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Bankers made $33M in bonuses from cum-ex trades, German prosecutors say

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Bankers made $33M in bonuses from cum-ex trades, German prosecutors say

German prosecutors said six former bankers accused in cum-ex trade fraud made nearly $33 million in bonuses from the alleged fraud, Reuters reported.

The prosecutors had previously filed charges against six former bankers of the now defunct Maple Bank GmbH and former head of law at U.K.-based law firm Freshfields Bruckhaus Deringer LLP, according to reports.

However, the prosecutors did not reveal the identity of the accused or name the bank or the law firm.

German police had previously arrested the Freshfields employee and two former Maple Bank employees. While the bankers remain in custody, the lawyer was released on a bail after producing a €4 million bond, according to the newswire.

The cum-ex fraud scheme saw bankers and lawyers across Europe claim billions in public funds on behalf of their clients by exploiting a loophole in German tax law allowing them to claim rebates on taxes on share dividends more than once.