Ex-Macquarie Banker Facing Trial in €319 Million Cum-Ex Case (3)

An ex-Macquarie Group Ltd. banker is facing criminal charges in a €319.7 million ($371 million) German Cum-Ex case, the first former staffer from a major international investment bank to stand trial over the tax dividend scandal.

The 49-year-old man, identified as Philip G., appeared at the Bonn Regional Court on six counts of aggravated attempted tax evasion on Thursday. Cologne prosecutors allege that the man, with others, tried to illegally extract the money from German government coffers via Cum-Ex deals.

Philip G. was a managing director at the Australian bank’s Munich branch for 14 years. Prosecutors allege that he ...