Barclays, Merrill Resurface in Third German Tax Indictment
- Lenders were Maple Bank trading partners, indictment says
- Filing says Maple’s 2008 deals caused 243 million-euro refunds
A worker cleans a sign outside a bank branch of Barclays Plc in London, U.K.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
Barclays Plc and Bank of America Corp.’s Merrill Lynch have been caught up once more in Germany’s expanding Cum-Ex dividend scandal, with prosecutors in a third criminal case saying they provided crucial elements in some transactions.
The banks were among several companies used by the now defunct Maple Bank as short sellers or brokers to expand profits and “better veil” the controversial transactions, Frankfurt prosecutors said in an indictment seen by Bloomberg News. The two banks aren’t charged with a crime as prosecutors are targeting six former Maple bankers and an ex-lawyer at the law firm Freshfields in the case.