Cum-Ex process: Prosecution calls for nine years in prison for Hanno Berger

In the criminal proceedings against the architect of the cum-ex stock deals, Hanno Berger, the prosecution has demanded a prison sentence of nine years.

Cum-Ex process: Prosecution calls for nine years in prison for Hanno Berger

In the criminal proceedings against the architect of the cum-ex stock deals, Hanno Berger, the prosecution has demanded a prison sentence of nine years. The accused had initiated business and "taught" other participants, said public prosecutor Jan Schletz on Tuesday before the Bonn district court. The maximum age for a criminal offense is 15 years.

In the three cases of particularly serious tax evasion, in which Berger was involved, according to the investigation, tax damage of 166.6 million euros was incurred. Schletz demanded the collection of a good 27 million euros, which Berger and an ex-colleague should pay. After the prosecution's plea, the defense was expected to reply on Tuesday. A verdict is expected in the coming week.

In the deals, which peaked between 2006 and 2011, shares with ("cum") and without ("ex") dividend rights are shifted back and forth around the dividend record date. The confusion served to get taxes reimbursed by the Treasury that were not paid. As a result, the state incurred losses in the double-digit billion range.

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