The court in Bonn on Wednesday, September 4, begins a case on a fraudulent scheme of large-scale tax evasion. In this case, we are talking about speculation with taxes on dividends, as a result of which, according to various estimates, the state treasury missed several million euros, reports the AFP news agency.
More than a hundred such cases of fraud have come to the attention of the justice authorities, but only one of them will be considered in Bonn. In the dock - British traders Martin S. and Nicholas D.
According to the prosecution, in the period from 2006 to 2011, these persons, speculating with taxes on dividends, hid almost 440 million euros from the tax authorities. Representatives of several financial institutions, including Société Générale, BNY Mellon and Hansainvest, will also appear before the court during the hearing.
Both traders have given exhaustive testimony and hope for the leniency of the judges. However, they face up to 10 years in prison. The prosecutor's office accuses Martin S. and Nicholas D. of large-scale tax evasion.
The case provides for 32 court hearings. The final verdict is scheduled for January 9, 2020, dpa reports.
