Prosecutors and lawyers filed a request to end criminal proceedings on fraud charges against the chairman of the board of directors of Hamburg bank MM Warburg, Christian Olearius, Reuters reported on June 14.
With reference to data from the German Regional Court, it is reported that prosecutors and lawyers unanimously claim that the former CEO and chairman of the board of directors of the Hamburg bank MM Warburg Christian Olearius “he is no longer fit to stand trial”.
Olearius is accused of running a tax fraud scheme worth 10 billion euros ($10.7 billion).
According to media reports, Olearius did not appear seriously ill at the trial.
Spiegel previously reported that Christian Olearius’ diary indicated that he met three times with future German Chancellor Olaf Scholz while he was still mayor of Hamburg. Spiegel emphasized that the exact content of the meetings between Scholz and Olearius in 2016-2017 is still unknown and that there is no reason to believe that there is a connection with the Hamburg authorities’ decision to reject the tax authorities’ claim against the MM Warburg bank. .
It should be noted that on August 18, 2022, Olaf Scholz, at a meeting of the investigative committee in Hamburg on the Cum-Ex case, in which the possible involvement of members of the Social Democratic Party of Germany (SPD) in tax fraud was discussed . he was investigated, he answered “I don’t remember” and “I don’t know” to 22 of 24 questions.
In short, in a fraud scheme known as “Cum-Ex,” banks and investors quickly traded company shares on dividend day, diluting share ownership and allowing multiple parties to obtain false tax deductions.
Initially, damage to the German state was estimated at approximately €280 million. In addition, the prosecution requests the confiscation of approximately 43 million euros obtained from fraudulent transactions between 2005 and 2012.
Source: Rossa Primavera
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