Summary of The CumEx Files – A Cross-Border Investigation

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The CumEx Files – A Cross-Border Investigation summary
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Rating

9

Qualities

  • Eye Opening
  • Controversial
  • Bold

Recommendation

The protagonists alone make for a fascinating crime story: a repentant informant with a remodeled face and new identity to protect him from his former peers; two undercover journalists pretending to be billionaires; and a ruthless tax lawyer, who claims that anything that’s legal is also morally legitimate. This would make for some fine reading – if only the story were fictional. For this article, published by the investigative newsroom Correctiv, 38 reporters delved into the biggest financial scandal Europe has ever seen. 

About the Author

Correctiv is a nonprofit investigative newsroom based in Germany. A network of 38 reporters from 12 countries did the research for this article.

 

Summary

In a London luxury hotel on a hot August day in 2018, the trader Amal Ram (a pseudonym) meets the German billionaire brothers Otto and Felix to offer them an irresistible investment deal: A fraudulent cum-ex share deal. German law enforcement uncovered such deals years before, which have since been subject to investigations. Unbeknownst to Ram, the meeting is a trap: Otto and Felix are undercover reporters who want to prove that the tax fraud scheme is continuing largely unimpeded – not only in Germany, but across Europe. Ram assures them that the deal is still “market neutral.” That’s code...


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