FORMER WARBURG BANKER GETS JAIL TERM IN GERMAN CUM-EX FRAUD TRIAL

On 9 February, Reuters reported that a former banker was handed a 3½-year jail sentence for his part in Germany’s biggest post-war fraud.  He is a former employee of MM Warburg group, part-owned by one of Germany’s oldest banking dynasties.  He is the second person to receive a jail sentence for trading activity that cost Germany more than €5 billion.

https://www.reuters.com/world/former-warburg-banker-gets-jail-term-german-fraud-trial-2022-02-09/

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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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