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Three London Bankers Face Trial in Germany Over Tax Scandal

  • Wiesbaden court paves way for another trial over tax strategy
  • Ex-bankers at UniCredit SpA’s HVB unit, attorney indicted
Two of the defendants, second right and third left, at the district court in Bonn, in Sept.
Two of the defendants, second right and third left, at the district court in Bonn, in Sept.Photographer: Marius Becker/DPA/AFP via Getty Images
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A German court paved the way for the trial of six people including three former London investment bankers for their role in the Cum-Ex tax scandal.

The ruling by a court in the city of Wiesbaden sets up the second trial in the country over the trading strategy that’s triggered multiple probes by German prosecutors involving about 500 suspects. Another case is being tried in Bonn, and the court there has said that Cum-Ex trades were criminal.