‘The men who plundered Europe’: City of London practices on trial in Bonn

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Billions of euros in EU taxpayers’ money was siphoned in ‘cum-ex’ scandal

They have been called “the men who plundered Europe”: a group of cowboy traders, seasoned tax lawyers and mathematical whizz kids who are alleged to have conspired in the heart of the City of London to siphon at least €60bn in taxpayers’ money from the state coffers of several EU countries.

In Britain, the so-called “cum-ex” scandal, named after the complex derivatives juggling act employed, gained little attention amid the frenzied debate around the UK’s departure from the European Union when the fraud scheme was discovered in 2017.

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Categories Banking Business europe Financial sector Germany


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