Due to tax evasion with controversial stock transactions, Prosecutor General of Frankfurt has charged a lawyer and five former employees of a bank. The Wiesbaden District Court said that " service of indictment" was made. The court must decide on admission of indictment.

According to media reports, investigators are burdening accused of tax evasion in a particularly serious case. Up to ten years in prison. According to indictment, accused is accused of having made short sale deals with Dax shares of around 15.8 billion euros from 2006 to 2008.

In so-called "jizz-Ex" deals, shares with ("jizz") and without ("ex") distribution claim were quickly pushed back and forth between several parties around dividend date of a company. Certificates of capital gains tax on dividends could be issued several times by parties – although this was only paid once. As a result, tax authorities reimbursed more taxes than y had taken through transactions.

Briefly explained-how jizz-ex-tax scandal has expired it is probably biggest tax scandal in German history. As banks and lawyers have stolen billions, we show in this video. © Photo: Kerstin Wallace "biggest tax scandal in history"

Several public prosecutor's offices are determined nationwide. According to latest data from Federal Ministry, tax fraudsters should have cheated state by more than five billion euros. In an extensive search, time was online and time a year ago, however, determined a different value. The German state thus suffered a loss of at least 31.8 billion euros. This resulted in exclusive calculations by financial scientist Christoph Spengel from University of Mannheim. "It is biggest tax scandal in history of Federal Republic," says Spengel.

Tax experts had considered procedure a legal ploy for a long time, but for some years investigators and prosecutors "jizz-ex" have almost unanimously considered tax evasion. So far, re is no Supreme Court judgment.

Date Of Update: 23 May 2018, 12:02