The Higher Regional Court in Cologne has now permitted the Cum-Ex affair surrounding the traditional bank MM Warburg, based on media reports, to proceed to a main trial. As reported by WDR on Friday, this case is set to take place before the 15th Major Criminal Chamber of the District Court of Bonn.
The core issue revolves around P., a Hamburg tax official, and the accusation that she helped the bank retain 90 million euros in illegally collected tax money. The Cologne public prosecutor harbors this suspicion and filed a nearly 600-page indictment against P. for “aid to tax evasion” with the Bonn District Court.
Although the District Court initially rejected the charge, stating there was “not sufficient probability” of criminal conduct, the public prosecutor filed an appeal. They have now secured permission to move forward through the OLG Köln. The Court acknowledged that, when viewed in isolation, some of the specific actions taken by P. might hold little weight. However, the August 10th ruling cited by WDR emphasized that when combined with other significantly compromising circumstances, these individual irregularities strengthen and connect with one another.
This case is notable as it involves a state representative facing charges for the first time; until now, only bankers, tax lawyers, and stock traders associated with various companies have been held accountable for the tax theft.
