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Ex-London Bankers Said to Help Cum-Ex Probe to Dodge Jail (1)

Jan. 3, 2019, 5:03 PM

Two former London investment bankers cooperating with a German probe of controversial tax deals that cost the nation billions of euros are wagering that their help will persuade judges to go easy on them, according to people familiar with the issue.

For more than a year, the men have helped prosecutors to understand complicated details about the so-called Cum-Ex deals, including the role of investment banks, brokers and other market players, said the people, who all asked not to be identified because the probe is confidential.

In return, the bankers hope to avoid lengthy jail terms, according to the people. ...