The Cum-Ex-transactions of the German drugstore-king Erwin Müller issue before the district court of Zurich: Three German must answer, because of economic espionage, because they are supposed to have passed on secret data of the Bank J. Safra Sarasin. The process is expected to take three days.
The 86-year-old Erwin Müller has long been on the Forbes list of the richest people in the world. His Drugstore chain has made him a multiple billionaire. For the management of the assets dedicated Müller, among others, Switzerland, Bank J. Safra Sarasin.
This advised him a few years ago to invest in a Luxembourg-Sheridan Fund. About this Fund so-called Cum-Ex transactions were difficult to be handled by transparent share transactions.
the refunds on capital gains demanded taxes from the German tax authorities. This was with stock transactions around the record date for dividend payments possible – and brought the German state over the years to billion. Cum-Ex-transactions were therefore banned in Germany in 2012, the Sheridan Fund collapsed as a result.
Incorrectly advised chemist-king
With the collapse of the Fund, money was also a Miller. He claimed damages from the Bank J. Safra Sarasin – and was right. The district court of Ulm decided by 2017, the Bank must pay him 45 million euros, because you have to advise the drugstore-king wrong. The 86-year-old Müller said that he did not know what he is investing there.
the process has been Gained especially because Miller’s attorney Eckart Seith came into the possession of secret Bank documents and in the process also used. Including a by the Bank commissioned report, the proven, that J. Safra Sarasin had advised the drugstore-king actually was wrong.
Seith must answer for itself because of the use of these sensitive records now before the district court of Zurich. The prosecution demands a conviction because of the economic news service, economic espionage, and punishable by imprisonment of 3.5 years. The lawyer should serve the penalty.
Federal cross of merit, or prison
While Seith in Switzerland, a country with one foot in prison, he has in Germany to the Status of a Whistleblower. He had to uncover helped one of the largest tax scandals in the Federal Republic of Germany. A citizens ‘ movement calls for him the Federal cross of merit.
his informants, both former employees of the Bank J. Safra Sarasin are Charged in addition to lateral raises. The mastermind, also German, had internally been a long-time critic of the controversial Cum-Ex-transactions. Together with his colleagues, also he is a German citizen, he contacted Miller’s lawyer, met with him and arranged the Handover of the secret documents.
This he did, however, not entirely altruistic: As consideration for these documents, he and his colleague, should receive 1 percent of the compensation process compensation, so 450’000 euros, which wanted to divide the two accused.
For the Zurich state Prosecutor, this is clearly a case of the economic intelligence service and violation of business secrecy. For the mastermind, the Prosecutor is demanding 3 years and 10 months imprisonment necessarily what he has, but 6 months in custody served.
the court Following the request of the Prosecutor, he would have to still a further 3 years and 4 months behind bars. The accomplice should something impose a more lenient penalty: 3 years imprisonment bloom, which he should, but only a year to serve. The remaining 2 years would be pronounced as the suspended sentence. The process is expected to take three days. (Dec/sda)
Created: 26.03.2019, 08:33 PM