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Four Warburg Bankers Indicted as German Tax Probe Escalates

  • Indictment was filed at Bonn court by Cologne prosecutors
  • Bankers charged after first Cum-Ex trial exposed lender’s role
Updated on

Four M.M. Warburg & Co. bankers were indicted in Germany over their role in the Cum-Ex scandal, paving the way for another trial in a probe that has roiled the financial industry.

The indictment was filed by Cologne prosecutors at the same court that has already convicted two former London investment bankers, according to a person familiar with the case. It’s the fourth case filed in the country where prosecutors are probing hundreds of people involved in the controversial trading strategy.