Deutsche Bank workers accused of tax fraud

[unhappycamper]

http://www.dw.com/en/deutsche-bank-workers-accused-of-tax-fraud/a-18646765

Deutsche Bank employees have been accused of involvement in a large tax fraud scheme between 2009 and 2010. Prosecutors spoke of hundreds of millions of euros in damages through incorrect VAT notifications.

Deutsche Bank workers accused of tax fraud
13.08.2015

Prosecutors in Frankfurt confirmed Thursday they had filed tax evasion charges against eight current and one former employee of Deutsche Bank over their alleged participation in a value-added tax fraud scheme.

They added the scheme involved a chain of transactions with carbon dioxide emissions certificates issued under a European Union trading system aimed at fighting climate change.

That system sets a ceiling on the carbon emissions of companies and power plants, which have to buy permits for additional emissions if needed, but can also sell them.

Protracted inquiry

The Frankfurt prosecutors explained those charged with fraud had used the mechanism to file incorrect VAT notifications at Deutsche's tax department in cooperation with companies unwilling to pay for their emissions, resulting in losses totaling 220 million euros ($245 million).

[tk2kewl]

1. just some rogue "workers"

The "corporate person" had a little virus that's all