Ex-Avana Invest Partners Charged in €343 Million Cum-Ex Case (1)

Two former partners of German asset management company Avana Invest GmbH were charged by Munich prosecutors over the Cum-Ex tax trading scandal.

The two men, who can only be identified as Götz K. and Thomas U., were charged over a tax loss of about €343 million ($366 million) caused by Cum-Ex deals in which the firm was involved, the prosecutor said. Avana Invest collapsed amid scrutiny of the trading practice.

Munich prosecutors announced the indictment in an emailed statement on Wednesday without identifying the company. The case is about Avana Invest, according to a person familiar with the probe who ...