NEW ZEALANDER ACCUSED OF GERMAN TAX FRAUD ESTABLISHES LARGE PROPERTY EMPIRE

In its 27th October edition, Stuff reported that Paul Mora, 51, and Martin Shields, 41, an Irish maths whizz who studied at Oxford University, worked at the German bank HypoVereinsbank (HVB) from 2002 and together founded investment banking firm Ballance Capital in about 2008.  Now Shields, who worked with Mora mainly in London between 2000 and 2012, is currently before the Bonn regional court in Germany, answering questions about a complex tax scheme that allegedly deprived German taxpayers of countless millions.  At HVB and Ballance, the pair made millions for clients and themselves through complex share transactions to get more than one tax refund on the same deal.  Mora has not been charged but is “under investigation” and has denied any wrongdoing. A German court will have to determine whether the share transactions known as “cum-ex” deals (transactions designed to strip dividends) were legal and whether people participating can be convicted of crimes.  The article details the holdings established by Mora.

https://www.stuff.co.nz/business/116935260/kiwi-accused-of-german-tax-fraud-establishes-large-property-empire

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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