Banks

CO2 tax fraud: trial of Deutsche Bank employees

The dirty trade with Luftverschmutzungsrechten busy for years the judiciary. Now threaten employees of the Deutsche Bank, even in jail. It is about tax fraud in the millions.

The Frankfurt regional court had in August imposed charge because of “severe bandenmäßiger tax evasion” in full, as the spokesperson of the court and the Prosecutor’s office confirmed.

To begin the trial against the seven suspended Employees of the largest German Geldhauses and an Ex-Manager of the Bank, who already is retired, on Monday (15.02.2016). On the approval of the indictment, first, the “Süddeutsche Zeitung” (SZ) reported. Until the end of may, there are numerous Verhandlungstermine set.

Sent to prison

In no Bankenprozess sent to the judiciary so far, one of the accused in prison. This may now change, writes the SZ. In the Frankfurt case might only four of the eight defendants on probation is hope – but only if you are a confession away. So you would have to, in contrast to their colleagues, no mercy could be expected, not behind bars.

The General Prosecutor’s office of Frankfurt accused of being the Banker in a criminal VAT carousel involved. The fraudulent trade in Rights to emission of harmful carbon dioxide (CO2) were according to the findings of the investigator about the German societies of emission allowances from abroad and purchased domestically over Zwischenfirmen sold, excluding value-added tax to pay.

Refund of not paid VAT

The last company in the chain sold the papers abroad again. This could be the scammers then from the tax office VAT refund, which has never been paid. The overall damage alone for the period from August 2009 to April 2010 to quantify the investigators at around 850 million Euro, in a specific case should be € 220 million of tax evaded. Deutsche Bank did the business immediately after becoming aware of set and money to the Treasury is repaid, said a spokesman for the Bank said.

The investigations in the complex have been underway for years. Deutsche Bank, which formally is not in the dock is explained repeatedly, you cooperate with the investigators. The defendants helped the opinion of the public Prosecutor’s office, the VAT-carousel to keep Running – as Rohstoffhändlerin, Geschäftskundenbetreuer, employees of the Department of Commerce or the tax Department of Deutsche Bank.

No proceedings against the Bank

You should from the Betrugsketten-derived CO2-certificates below the market price have purchased and internal control bodies of the Bank are incomplete about suspicions against trading partners to have informed. The most senior of the accused Deutsche Bank who now is retired, as a team leader for his Department’s lucrative businesses they have supported.

According to the SZ would be a fine against Deutsche Bank possible, but during such a not. The Generlstaatsanwaltschaft Frankfurt assume some of the accused, rather, they had in the Bank’s suspicions are partially concealed and so a premature termination of the CO2-shops prevents. Now, the court is required.

ul/hb (dpa, sz)