tax evasion

M.M. Warburg, the bank at the centre of the cum-ex tax scandal, has temporarily paused its process to find new investors. But the Hamburg-based private bank has found a solution to a loan repayment coming due.

The unclear tax classification as asset managers is putting the German mid-sized private equity scene in a bind. The public prosecutor's office in Munich has been investigating around 20 companies for years on suspicion of tax evasion.