Cum-Ex Lawyer Who Advised Banks Told to Expect Conviction (1)

A former Freshfields Bruckhaus Deringer lawyer who advised top investment banks on how to navigate the “Cum-Ex” trading strategy at the center of Europe’s biggest tax scandal was told to expect a conviction for his actions.

Ulf Johannemann, former global head of tax at the firm, is likely to be found guilty over the advice he gave to now-defunct lender Maple Bank GmbH for transactions that allegedly cost Germany €374 million ($407 million), Presiding Judge Werner Gröschel said at a hearing in Frankfurt on Monday. Judges reviewing the evidence are leaning toward a conclusion that Johannemann crossed the line ...