News

€150 billion tax scandal - CumEx Files 2.0

21/10/2021

It is the biggest tax heist in history. Three years after the CumEx-Files were published, an international media collaboration led by CORRECTIV shows how taxpayers worldwide were cheated out of €150 billion.

An insider reports on the cross-border deals, financial experts warn that the tax fraud could still be possible, and authorities refuse to accept responsibility

Introduction

He got rich with our money. Now he lives in Dubai. Some say he’s hiding.

The man who allegedly robbed more than a billion euros from the tax coffers of several countries now sits at a restaurant overlooking a lush green golf course. Outside, the heat pushes through the desert. Further back, the Dubai skyline rises.

Investment banker Sanjay Shah is here to tell his side of the story.

Prosecutors in at least three countries, including Germany, are investigating him for so-called cum-ex deals. In Denmark alone, the amount in question is in the seven-figure range. But Shah says he’s not to blame:

  • “If there’s a big sign on the street saying, ‘please help yourself, then me or somebody else would go and help themselves”.

Undeterred, he repeats, everything he did was legal.

Read on

https://correctiv.org/en/top-stories/2021/10/21/cumex-files-2/?mc_cid=b763e6bb07&mc_eid=7b120ec239

TAX FRAUD