Maple Bank: Another Round of Charges Over Cum-Ex Scam
Additional ex-bankers indicted for Cum-Ex dividend manipulation schemes - Former bank personnel accused in additional Cum-Ex stock manipulation cases
Let's dive into the latest twist in the ongoing saga of the Cum-Ex stock deals, with Maple Bank once again making headlines. The Frankfurt prosecutors haven't showed any signs of slowing down their investigation into these scammy deals, aiming to put a stop to this deceit that cheats the state.
Recently, on May 14, 2025, the General Prosecutor's Office in Frankfurt brought charges against three more ex-honchos of Maple Bank, alleging them of aggravated tax evasion. This attack on the fraudulent scheme forms part of a larger offensive by German authorities, who are working tirelessly to root out Cum-Ex-like tax evasion methods.
The Maple case revolves around false tax certificates, enabling the bank to siphon off an estimated €374 million for the years 2006 to 2009. Owing to the risk of insolvency due to Cum-Ex transactions, financial regulatory Bafin was forced to shut down this Canadian-rooted institution in 2016.
The spotlight is on the former CEO, who not only helmed the bank but also served as the chairman of the German Maple subsidiary, and is among the accused. The 67-year-old supposedly played a pivotal part in the planning and implementation of the Cum-Ex transactions, giving them the green light. Further defendants include a 64-year-old British national and a 57-year-old German.
In the past, several Maple Bank employees have received multi-year prison sentences. It's also worth noting that multiple proceedings connected to the Cum-Ex scam are still underway.
In case you're not clued in, the Cum-Ex scheme was all the rage between 2006 and 2011. These cunning investors took advantage of a legal loophole by trading shares with and without dividend claims around the dividend record date. This whole con sparked tax authorities to refund unpaid taxes. However, the state closed that loop in 2012, and it was later deemed as a tax evasion scheme by the Federal Court of Justice in 2021.
- tax evasion
- investigation
- Frankfurt
- CEO
- General Prosecutor's Office Frankfurt
(Sources: 1- Investigation ongoing into Cum-Ex tax evasion scam, implicating three more former Maple Bank managers. 2- German authorities target Cum-Cum transactions, following a federal court ruling on tax evasion.[Online]. Available: https://example.com)
- The General Prosecutor's Office in Frankfurt has launched an investigation into three former Maple Bank executives, charging them with aggravated tax evasion in relation to the Cum-Ex stock deals.
- The ongoing Cum-Ex tax evasion case, involving Maple Bank executives, highlights the need for stricter employment and community policies in financial institutions to prevent such fraudulent activities.
