Banking Scandals 2020
Skip to content Menu Bloomberg Subscribe Business Deutsche Bank Says Five Ex-Board Members Probed Over Cum-Ex By Karin Matussek and Nicholas Comfort Updated on Scope of the investigation may be broadened, bank says Report comes after two London bankers convicted in tax scheme Deutsche Bank headquarters in Frankfurt. Photographer: Alex Kraus/Bloomberg Want the lowdown on European markets? In your inbox before the open, every day. Sign up here . Deutsche Bank AG said five former management board members are under investigation for tax evasion, days after the first two bankers were convicted in Germany’s long-running Cum-Ex scandal. The bank disclosed the information in its annual report Friday without identifying the board members. The bank said it may also face seizures and fines. Prosecutors in Cologne, who on Wednesday won their first convictions in the Cum-Ex probe, are looking at more than 500 people in the financial industry. The verdict this week found the complicated tax