Tax lawyer sentenced to three and a half years in prison. Cum-Ex is considered the largest tax scandal in the Federal Republic, with tax damage estimated at at least ten billion euros.
Numerous banks are involved in the scandal. In cum-ex deals, which peaked between 2006 and 2011, banks and other investors took advantage of a loophole in the law. With the help of banks, they had capital gains tax paid on dividends reimbursed several times over. In 2021, the Federal Court of Justice decided that the transactions should be viewed as tax evasion.