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After $350 Million Lawyers’ Bill, Denmark Steps Up Cum-Ex Chase

May 13, 2020, 11:39 AM

Denmark is taking a number of major new steps to catch fraudsters as it tries to recoup about $2.1 billion in funds stolen by financiers who abused the country’s dividend tax laws.

Morten Bodskov, the Danish tax minister, says that in addition to $350 million set aside to cover lawyers’ fees, he’s hiring 250 people this year as part of an “historic lift” to resources devoted to protecting Denmark’s taxes.

Bodskov says the message is that anyone guilty of stealing Danish taxes will be on the country’s hunt list as long as it takes to recoup the funds. The ...