Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian Prisoners' Information Office: Four of his ribs were broken
Palestinian Prisoners' Information Office: Marwan al-Barghouti lost consciousness after a brutal assault by Israeli occupation soldiers
Al Mayadeen's correspondent: Israeli violations in the Gaza Strip have not stopped, and just a short while ago, fishermen came under fire from boats
Al Mayadeen's correspondent: Israeli occupation forces carry out a large explosion in the eastern neighborhood of the town of Mays al-Jabal in southern Lebanon.
Israeli media: Israeli political leadership decides to open Rafah crossing “as planned” and transfer aid to Gaza Strip.
Palestinian media: Three Palestinians were killed after being targeted by Israeli drone fire in the al-Shujaiya neighborhood east of Gaza City
Nicolas Maduro: The Palestinian cause is the most sacred cause for humanity, and we propose sending teams of builders, farmers, and doctors to Gaza to help the people
Al Mayadeen's correspondent in Lebanon: IOF infiltrate Khallet Wardeh towards the municipality in the town of Aita al-Shaab, south of Lebanon.
Leaders of the United States, Egypt, Qatar, and Turkey sign a ceasefire agreement in Gaza.
Trump arrives in Sharm el-Sheikh

Tax fraud scandal lands Germany's Scholz in hot water

  • By Al Mayadeen English
  • Source: Agencies
  • 19 Aug 2022 08:36
  • 2 Shares
3 Min Read

German Chancellor Olaf Scholz will face questions from a parliamentary inquiry committee concerning the CumEx Files scandal and tax fraud on profits that has shaken his premiership.

  • x
  • Germany's Scholz faces grilling over tax fraud scandal.
    German Chancellor Olaf Scholz

German Chancellor Olaf Scholz will testify on Friday before a committee as part of an investigation into a financial scandal that cost the government billions of euros, as the leader battles to dispel suspicions about his possible complicity in the massive tax fraud swindle.

Scholz will go before a parliamentary committee in Hamburg for the second time to testify on whether local politicians helped a bank avoid paying back falsely claimed tax refunds. He served as mayor of Hamburg from 2011 to 2018 when he was appointed Finance Minister in Angela Merkel's government.

Read next: Scholz demolished in 200 days what Germany built in 30 years: magazine

The "cum-ex" scam, first disclosed in 2017, featured numerous players quickly trading company shares amongst themselves around dividend day in order to claim multiple tax rebates on a single payout. In Germany, dozens of persons have been charged in connection with the scam, including bankers, stock traders, attorneys, and financial advisors.

The Hamburg committee is looking into why local finance officials withdrew a bid to recoup 47 million euros ($48 million) in taxes from private bank M.M Warburg over cum-ex deals in 2016. Under pressure from Merkel's federal government, the bank was eventually forced to repay tens of millions of euros.

The bank was eventually obliged to return tens of millions of euros due to pressure from Merkel's federal government.

Rumors are swirling that the decision to let Warburg off the hook was taken shortly after a conversation between Scholz and Christian Olearius, then head of the bank.

Related News

EU will unite against Trump tariffs, but open to 'compromise': Scholz

Germany's Sholz says 'strong Ukraine' essential for Europe's security

'No findings of political influence' 

Scholz is already facing low approval ratings after his first six months in office were marred by criticism over his perceived inadequate response to the war in Ukraine.

Recently, the Chancellor has tried to reassure Germans about potential energy shortages this winter, as well as the very real possibility of a recession in Europe's largest economy.

Scholz's Spokesperson, Steffen Hebestreit, promised journalists on Wednesday that Scholz would answer all of the committee's inquiries and had nothing to conceal.

Read more: 'Olaf Scholz is not sausage' - German lawmaker

Cash stash 

Investigators have obtained emails from Scholz's former office manager Jeanette Schwamberger, according to various German media reports, which could reveal new evidence.

According to the reports, these emails are "potentially relevant to the evidence, as they suggest considerations around deleting data." The Frankfurter Allgemeine Zeitung stated that the emails clearly "incriminate" Scholz.

Other recently obtained records allegedly show that Scholz, contrary to what he has maintained thus far, did discuss reimbursement directly with Olearius.

According to an opposition conservative MP, Matthias Hauer, the latest revelations indicate that Scholz and his team "tried to provide only limited information on certain meetings or telephone conversations."

  • Olaf Scholz
  • CumEx Files
  • Germany
  • Hamburg committee

Most Read

Iran strikes secret Israeli-US bunker under Tel Aviv high-rise

Tel Aviv high-rise struck by Iran hid Site 81, secret US-Israeli base

  • Politics
  • 14 Oct 2025
Palestinian journalist Saleh al-Jaafarawi in an undated image in Gaza, occupied Palestine (Social media)

Gaza Palestinian journalist Saleh al-Jafarawi killed by collaborators

  • Politics
  • 12 Oct 2025
Taylor Swift: The Life of a Showgirl

The Life of a No-Girl: The one verse Taylor Swift refuses to sing

  • Arts and Culture
  • 8 Oct 2025
drop site

New report details extensive Israeli arson in Gaza after ceasefire

  • Politics
  • 13 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Freed Palestinian detainee al-Arida expresses gratitude to Al Mayadeen.
Politics

Freed Palestinian detainee Mahmoud al-Arida salutes Al Mayadeen

Prime Minister of Spain Pedro Sánchez gestures as he speaks at the Global Progress Action Summit, in London, Friday, September 26, 2025 (AP)
Politics

Spain to maintain arms embargo on ‘Israel’ despite ceasefire

Israeli excavators work in the Gaza Strip as the sun sets, seen from southern occupied Palestine, Tuesday, Oct. 14, 2025 (AP)
Politics

Palestinian clans condemn chaos in Gaza, back security forces

The sun sets behind buildings destroyed during the Israeli aggression in the northern Gaza Strip, as seen from southern occupied Palestine, Tuesday, October 14, 2025 (AP)
Politics

Israeli regime cuts Gaza aid to 300 trucks, blocks fuel and gas

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS