Bloomberg Tax
Feb. 7, 2020, 12:31 PM

Two More Bankers Arrested in Germany Over Cum-Ex Scandal (1)

Karin Matussek
Karin Matussek
Bloomberg News

Two former managers of a German bank were arrested in a money-laundering probe linked to Denmark’s $2 billion Cum-Ex tax scandal.

The two North Channel Bank managers were taken into custody on Feb. 4, prosecutors in the German city of Koblenz said Thursday in a statement. It’s part of a probe into the actions of the pair and five other former and current bank employees on allegations they have helped U.S. pension funds doing Cum-Ex deals at the expense of the Danish tax coffers.

The arrests came as the Scandinavian country ramped up its efforts to address the scandal, ...