“Cum ex”: the financial scandal that plagued Olaf Scholz

He dislikes being asked about the tax evasion scandal known as Olaf Scholz. “old cum”. On August 11, he made it clear at the chancellor’s traditional summer press conference, which he presented after his tenure. summer holiday. After patiently and even smilingly answering a few questions from German journalists on the subject, Scholz said: about to lose my nerve With the intervention of a Dutch reporter.

Second, in his question, the Hamburg bank said that Warburg was allowed to stay. “with stolen money” During the Scholz government in the northern German city-state. The Chancellor not only flatly denied the accusation, but also invited the reporter to measure his words before formulating claims that he cannot prove if he has to. Given the possibility that the journalist would have to answer in court, the response sounded like a threat, and also pointed to a certain distrust in an issue that could pass an expensive political bill from the Social Democratic leader.

This Friday, Scholz is a commission of inquiry In this scenario – unappetizing for the most important political position in the country – he did not stray a millimeter from his post as chancellor: “I did not affect the Warburg tax process in any way,” said Scholz, “I am hopeful.” that assumptions and implication would cease. This comment appears to be aimed at a growing number of media outlets investigating cracks in the chancellor version.

Government Fraud

The “cum ex” scandal is arguably the largest tax evasion in the history of the Federal Republic. through roundabout system of buying and selling shares, Bankers, lawyers, stockbrokers and bigots have managed to steal more than 10,000 million euros from the German state, according to the calculations of the NGO Finanzwende, co-founded and led by former green federal aide and financial expert Gerhard Schick.

Here’s how the system worked: After buying and selling shares, the scammers demanded a tax refund for a return on capital – that is, the payment of dividends.

He said they never paid the government. taking advantage of a error in the tax collection system, They directly benefited from these financial transactions, thanks to the stealing of money from the rest of the taxpayers.

Finanzwende estimates that the fraud was primarily committed between 2001 and 2011. Investigations show that nearly 100 banks and savings banks were involved. The case has already established police records in police offices. german bank, Morgan Stanley and cooperative bank Sparda. “We don’t have a complete picture of exactly which banks are involved,” says Gerhard Schick, who suspects the total may ultimately be much higher than $10 billion.

Loss of memory

The “ex-ejaculation” scandal has haunted Olaf Scholz for years. Became the current prime minister mayor-governor of the city-state Hamburg He met several times with the owners of Warburg bank Christian Olearius and Max Warburg in 2016 and 2017.

Although Scholz claims he does not remember what was discussed at these meetings, banker Olearius recorded in his detailed personal diary that he sought advice from the Social Democratic politician on the matter. 46 million euro demand from hamburger mansion that the enterprise received from the State through the “cum ex” system. After these negotiations, the treasury finally stopped demanding this money from the bank. Therefore, suspicion of political influence and favorable treatment becomes obvious.

The issue, which Scholz’s team managed to minimize in the last election campaign that ended with the victory of the Social Democratic Party and with Scholz’s arrival as federal chancellor, has become complicated in recent days. As reported by several German media, police conducted a search in September last year. more than 200,000 euros in cash at the cash register It belongs to Johannes Kahrs, a Social Democrat federal MP for the Hamburger federation of the SPD. Kahrs aims to be a key figure in the talks between Scholz and Hamburg bankers.

The Cologne prosecutor’s office in charge of the “cum ex” case approved the email recording of Scholz’s personal secretary after finding evidence and finding that the emails were suspiciously deleted. Both Gerhard Schick of the NGO Finanzwende and investigative journalist for public television ARD Oliver Schröm, who specializes in the “cum ex” case, find the chancellor’s lack of memory incredible. Meanwhile, the word “resign” is starting to gain strength in parts of the German parliamentary opposition.

Source: Informacion

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