The role of Schulz?: Cum-Ex financial scandal turns into a TV series

A role for Schulz?
Cum-Ex financial scandal becomes a TV series

23/2/2022 9:27 PM

In a previous stock scandal, legions of prosecutors investigated how the Treasury Department’s billions were duped. Now the director also takes the bulky material. However, it remains unclear whether Chancellor Schultz will also play a role in the script.

The cum-ex stock deal scandal is set to be shot as a series. According to the announcement, Berlin-based television and film production company Aikon acquired the rights to the non-fiction film “Under the Eyes of the State” by investigative journalist Massimo Bognani last year. Direct development cooperation with Bognanni is also planned. The working title is “Vice President/Former – Don’t Care”. The idea for the series came from Nikki Stein, who also wrote screenplays.

Ernst Ludwig Ganzert, Producer of Aikon, said: “Our series tells the true story of a group of distinguished people who work around the world, who already have it all, but still want more in a mixture of greed and arrogance. Which is at first private only seems clever, quickly What becomes immoral and ultimately leads directly to organized crime.” The announcement did not say where the series will be broadcast or aired later.

In cum-ex deals, banks and other financial players have pushed stock with dividends (“cum”) and undivided rights (“ex”) back and forth around the dividend date. The purpose of the confusion was to recover unpaid taxes. According to estimates, the German state lost as a result a double-digit amount in the billions. Cum-Ex peaked between 2006 and 2012. Several courts and prosecutors have dealt with the scandal for years.

Strat Scholes Reports

The announcement did not say whether Chancellor Olaf Schultz had a role in the script. Just last Friday, famous Hamburg criminal lawyer Gerhard Strati filed a criminal complaint against Schulz, the former mayor of Hamburg, in connection with the Warburg Bank implicated in the “Com-X” scandal. The declaration is also directed against Scholz’s successor in the city council, Peter Tschentscher. In a letter to the Hamburg Prosecutor, the lawyer accuses SPD politicians of aiding and abetting tax evasion, and Schultz also accuses him of making false, unsworn statements. The Attorney General confirmed its receipt.

Deputy government spokesman Wolfgang Buechner said that Schulz has repeatedly commented on the facts. In this regard, the chancellor is “calm” about everything else. Schulze has long dismissed the suspicion that as mayor he influenced Warburg’s tax treatment – as did Chencher.

In the nearly 40-page ad, Strate explains that the Hamburg tax authorities should not have held back on capital gains taxes erroneously paid in 2016 based on knowledge already available about Warburg Bank “cum-ex” transactions. The waiver made with the approval of then-Financial Senator Tschentscher was not a “strict statutory decision” but an arbitrary act – assessed under criminal law as an aid to tax evasion (…)” – old.