Clearstream offices raided in tax fraud investigations

Raid on Clearstream offices relate to the Cum-Ex scandal investigations.

By Jonathan Watkins

Searches have taken place at Clearstream’s offices in Germany and Luxembourg, as part of broader ongoing international tax fraud investigations.

The raid was related to the Cum-Ex scandal, which saw billions of euros erroneously paid through dividend tax.

The searches were carried out as part of investigations against Clearstream customers and employees.

A spokesperson confirmed the searched and said Deutsche Boerse – the parent company of Clearstream – is cooperating fully with the investigating authorities.

The news was first reported by German newspaper Handelsblatt.

A Bloomberg report during August also claimed that three banks had been asked to participate in Germany’s first trial over the Cum-Ex tax deals in early September.

Cleastream’s services were said to have been used in Cum-Ex deals to settle bookings in its system.4