Cum Ex – RAID at BlackRock Germany, investigators of the Cologne public Prosecutor’s office to have the rooms of the world’s largest asset Manager, BlackRock is searched. It is believed that the company is involved in Cum-Ex-transactions. © Photo: Hannes Breustedt/ picture alliance / dpa
In Munich, investigators of the Prosecutor’s office in Cologne seem to have spaces asset management BlackRock searches. The have said a familiar with the Situation Person to the Reuters news Agency, previously, the image was reported by the newspaper. Accordingly, the investigators searched for Material to the so-called Cum-Ex transactions in the period from 2007 to 2010. The Cologne public Prosecutor had no opinion.
The Bild newspaper quoted the company: “BlackRock is cooperating in an ongoing investigation in connection with Cum-Ex-transactions in the period from 2007 to 2011, in full cooperation with the investigating authorities.”
Chairman of the Supervisory Board for the German offshoot of the BlackRock 2016, Friedrich Merz, the candidate for the CDU presidency in March. The investigations apply, therefore, a period in which he was not yet working for the company.
Merz belongs to in addition to BlackRock of the Supervisory Board of HSBC Bank, which is also associated with Cum-Ex-transactions. In connection with the HSBC, he pointed recently to the fact that he had turned against such practices: “share shops like Cum-Ex and Cum-Cum serve, ultimately, the taxpayer is exempt,” said Merz last week, the süddeutsche Zeitung. Such transactions were “completely immoral”, regardless of the legal assessment. “This opinion, I have always been and have this always.”
Cum-Ex Dimension
the creation of a Total of the German government with a loss of at least 31.8 billion euros. The calculations of the financial scientist, Christoph Spengel, University of Mannheim.
