London Raid on ED&F Man Capital Markets Ruled Lawful by UK Court
- ED&F London offices were raided in 2022 over tax transactions
- Less intrusive methods were “bound to fail”, said authorities
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The raid into the London offices of ED&F Man Capital Markets Ltd., carried out on behalf of Danish and German authorities as part of their sprawling Cum-Ex trading probe in 2022, was lawful, UK judges ruled.
“There were very grave suspicions about the past conduct of ED&F,” Judge Philippa Whipple said in the decision Wednesday. “It is naive to suggest that production orders might have been effective and sufficient in the circumstances.”