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U.K. Hedge Fund Trader Freed on Bail in German Cum-Ex Probe (1)

Nov. 25, 2021, 10:05 AM

A hedge fund trader extradited from the U.K. to Germany as part of the country’s sprawling Cum-Ex tax fraud probe was released from prison after working with prosecutors and posting bail.

Previously identified as Vijay Sankar, the 45-year-old man gave prosecutors new leads in their investigation which prompted them to retract an appeal against a bail ruling. He was released at the end of last week, a spokesman for Cologne prosecutors said in an email. German authorities have never publicly named Sankar.

“We believe granting bail was the right decision,” Syed Rahman, Sankar’s U.K. lawyer, said. His German attorney didn’t ...

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