The first jail sentence has been pronounced in the Cum/Ex tax fraud. The fine is a death knell for one of Germany’s oldest private banks. The judgment is causing frights in board rooms and trading floors.
German prosecutors are taking numerous financial institutions to courts over the Cum/Ex fraud, and the banks are suing each other to escape the dues.
The proceedings show ICAP at the center of this web of frauds.
The first Interpol warrant has been issued in the Cum/Ex tax trading case.
Paul Mora, looked for by Germany, Denmark, and Belgium, is currently in New Zealand. Mr. Mora said that “he would skip his tax fraud trial because of New Zealand’s low Covid-19 infection rate and argued that he wouldn’t get a fair hearing in Germany.”