Cum-Ex Lawyer for Top Banks Admits Turning a ‘Blind Eye’ (2)

A former Freshfields Bruckhaus Deringer lawyer who advised top investment banks on the “Cum-Ex” trading strategy at the center of Europe’s biggest tax scandal confessed to turning a blind eye to his clients’ behavior.

In a dramatic admission, Ulf Johannemann, the firm’s ex-head of global tax, said he “totally failed” in his role as an attorney and wrongfully cleared Cum-Ex deals at Maple Bank GmbH. He said his approach was to make possible whatever clients wanted by pushing aside his own view of the law and not asking any questions.

“In reality, I didn’t want to know the ...