Ex-Banker Pays €2.8 Million to Settle Second Cum-Ex Charges (2)

A former London investment banker convicted in the first German trial over illegal Cum-Ex trades has agreed to pay €2.8 million ($2.9 million) to settle another set of charges pending against him in the country.

Martin Shields, who was spared prison time in his 2020 conviction in Bonn because of his cooperation in that probe, has now been able to end the separate Cum-Ex charges pending against him in Wiesbaden. A spokesman for Frankfurt Prosecutors, who brought the case, confirmed their representatives agreed to the deal.

A spokesman for Shields declined to comment.

In Cum-Ex deals, shares rapidly changed hands ...