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08/19/2022
Analysis: 100 banks, 1,000 suspects: German fraud probe puts Scholz on the spot
Reuters
FRANKFURT, Aug 17 (Reuters) - German chancellor Olaf Scholz faces lawmakers' questions this week over his role in tackling a multibillion-euro tax fraud as a sprawling probe into the scheme threatens to undermine him as he grapples with an energy crisis and the fallout of war.
In the scheme, known as "cum-ex" or dividend stripping, banks and investors would swiftly trade shares of companies around their dividend payout day, blurring stock ownership and allowing multiple parties to falsely reclaim tax rebates on dividends.
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