Maple Bank: More High-Rollers in the Cum-Ex Scandal Busted by Frankfurt Prosecutors
Additional bank personnel indicted for involvement in Cum-Ex dividend scams - Ex-Bankers Indicted for Involvement in Cum-Ex Stock Transactions
Got some unwanted guests, Frankfurt?
Welcome to the limelight, a trio of former honchos from the Canadian Maple Bank group - they're the latest additions to the Frankfurt prosecution's cast of suspects in the grand, ol' Cum-Ex stock deal scam. Charged with aggravated tax evasion, these ex-managers have found themselves in hot water over questionable dealings from the years 2006 to 2009. The total damage? A cool €374 million.
/Yaas Queen: Can't forget about the parent company's former CEO, she's joining the party too. Accused of being a prime mover behind the Cum-/Ex transactions, she's allegedly been knee-deep in the planning and implementation from the get-go. And given her roles as both CEO and chairman of the German Maple subsidiary's supervisory board, it's no wonder the authorities want a piece of her.
Joining the fun are a 64-year-old British lad and a 57-year-old German fellow, who've also been handed their own sets of:" serves you right" tickets.
The curious case of Maple Bank, with its roots stretching back to Canada, is far from over. Long story short, the bank tanked because of the Cum-Ex transactions and was shut down by the Bafin in 2016.
/FYI: So what's the big deal about Cum-Ex deals? They're a worm that slithered its way into the underbelly of law and order, hitting its prime between 2006 and 2011. Investors and banks manipulated stock trading to create confusion and trigger tax refunds that never should've been dispensed. The authorities finally caught on in 2012 and closed that messy loophole. Yet, here we are in 2025 - and the Cum-Ex scandal refuses to die.
Prison sentences for other Maple Bankers have been doled out, while investigations and proceedings related to the Cum-Ex complex continue, much like a stubborn cold.
- Fake tax certificates
- Aggravated tax evasion
- Frankfurt am Main
- Maple Bank
- CEO
- Public Prosecutor's Office Frankfurt
Sources:
- [1] "Three More Charged Over Cum-Ex Stock Deals in Frankfurt" - Frankfurt Germany News, May 14, 2025.
- [2] "The Cum-Ex Scandal Explained" - Forbes, August 15, 2018.
- The Public Prosecutor's Office in Frankfurt is reportedly reviewing the community policy and employment policy of Maple Bank, given the increasing number of former high-ranking officials from the bank involved in the ongoing Cum-Ex scandal.
- As the Cum-Ex scandal persists, financial news outlets are following the general-news and crime-and-justice aspects of this complex case, which involves questionable employment policies at Maple Bank and other involved entities.
