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Lawyer Hanno Berger is considered one of the architects of the Cum-Ex model
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Boris Roessler / dpa
One of the key figures in the scandal surrounding illegal cum-ex deals is handed over to the German judiciary.
The Swiss Federal Office of Justice has approved the extradition of tax lawyer Hanno Berger, said a spokeswoman for the North Rhine-Westphalia Ministry of Justice.
There are no more appeals against the decision.
Both the Hessian and the North Rhine-Westphalian judiciary had requested the extradition of the German lawyer.
Both requests have now been granted, the spokeswoman said.
A quick transfer of the accused is expected.
The Swiss Federal Office did not comment on the case for the time being.
Berger was arrested in the canton of Graubünden and has been in extradition custody since last summer.
In the cum-ex transactions, banks and investors with share transfers were reimbursed by the German tax authorities for billions that had never been paid.
Berger, a former tax official, is believed to be one of the architects of the model.
He last lived in Switzerland.
Damage in the tens of billions
Berger has denied the allegations.
He and his lawyer argue, among other things, that the offenses he was accused of were not punishable in Switzerland.
The Swiss Federal Criminal Court rejected this.
"It obviously cannot be right that a withheld tax is paid twice," argued the court.
The procedure can be described as fraudulent.
Berger had tried every means possible to prevent his extradition and recently even claimed that the allegations made in Germany were "politically motivated".
In cum-ex deals, banks and other financial players moved shares with (»cum«) and without (»ex«) dividend rights back and forth around the dividend record date.
The aim of the confusion was the refund of taxes that had not been paid.
According to estimates, the German state lost an amount in the double-digit billions as a result.
Cum-Ex peaked between 2006 and 2012. Several courts and public prosecutors have been dealing with the scandal for years.
sol/dpa
