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Four Warburg Bankers Charged as German Cum-Ex Case Escalates (1)

June 4, 2020, 12:18 PM

Four M.M. Warburg & Co. bankers were indicted in Germany over their role in the Cum-Ex scandal, paving the way for another trial in a probe that has roiled the financial industry.

The indictment was filed by Cologne prosecutors at the same court that has already convicted two former London investment bankers, according to a person familiar with the case. It’s the fourth case filed in the country where prosecutors are probing hundreds of people involved in the controversial trading strategy.

Scores of financial institutions have been caught up in investigations into Cum-Ex transactions, which allowed investors to seek multiple ...