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Germany: Pressure is mounting on Olaf Solz for the involvement of his partner in a 55 billion euro tax evasion scandal

Her chancellor Germany, Olaf Solzknew absolutely nothing about the money found in a bank deposit box of his former partner and alleged involvement in scandal Cum-Ex, Social Democratic Party (SPD) MP Johannes Kars, the government spokesman said.

“At the end of next week the chancellor will testify for the second time to the Commission of Inquiry into the Warburg Bank scandal by the Hamburg parliament. Anything that needs to be said will be answered there.”emphasized government spokesman Stephen Hembestright and, interviewed whether Mr. Soltz knew in advance about the €214,800 and $2,400 in cash found in Mr. Kars’s lockerhe answered unequivocally: No, I can rule that out.”

According to BILD, as part of the investigation into the Cum-Ex case, cash was found in Mr. Kars’ safe deposit box, but it is not yet known whether the possession of this amount is illegal. However, the pressure from the opposition is escalating and is particularly focused on the person of Olaf Solz, who during the controversial period was Mayor-Governor of Hamburg.

“It is not at all clear where the money came from and to what extent the social democratic network in Hamburg benefited from these events,” the head of the Christian Democratic Party (CDU) in Hamburg, Christoph Ploss, told Der Spiegel magazine and asked to clarify the situation the SPD at the central level.

“Either Mr. Kars will prove the img of the money or invoke his right not to speak due to the ongoing investigation against him. In the latter case, it makes sense that the money is linked to the Cum-Ex case and then the chancellor is also in trouble,” said former Left MP Fabio De Masi.

The Cum-Ex case concerns a 55 billion euro tax evasion scandal involving banks, with the return of taxes on capital gains, mainly dividends. The controversial transactions – known as Cum-Ex – are estimated to have cost the state around 10 billion euros in Germany alone. These were continuous transfers of shares with dividend rights (cum) or without (ex), with the aim of keeping the true identity of the beneficiary unknown.

The Commission of Inquiry set up by the state parliament in Hamburg is looking into the possibility that top SPD politicians influenced the tax decisions of Hamburg’s Warburg Bank, which is also involved in the scandal. In this context, Mr. Soltz’s meetings with the bank’s shareholders Christian Olearius and Max Warburg are also being investigated. The chancellor has said he has no recollection of the meetings, but categorically rules out any political influence.

However, in a new publication, BILD revealed that the Hamburg prosecutor’s office is also investigating the email of Olaf Solz, as the messages he received from 1.1.2015 are considered part of the investigation. In addition, according to the Hamburger Abendblatt, the investigation concerns the possible political committee to cancel a tax claim of 47 million euros from Warburg Bank. Mr. Soltz will testify before the Commission on August 19.

Source: News Beast

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