(DENMARK) Court Report: Prosecutors have charged three Britons and three Americans with defrauding the treasury of more than 1.1bn kroner ($175m; £130m; €150m) through a German bank #AceNewsDesk report

#AceNewsReport – Apr.14: Two British citizens have already been charged as part of a “cum-ex” trading fraud that swindled the treasury of a total of 12.7bn Danish kroner:

Denmark charges six from UK and US with cum-ex fraud: Prosecutors believe the six charged are “the central principals” in the fraud …..If found guilty, they could face 12 years in jail.

22 hours ago

Denmark's Skat tax agency
Denmark says some 12.7bn kroner was paid out by the Skat tax agency to foreign-based companies and individuals

How the scam worked

Denmark’s Serious Economic and International Crime (SEIC) fraud squad said that for more than a year, between 2014 and 2015, hundreds of fake share trades were carried out via the Mainz-based North Channel Bank in Germany. 

The aim was to defraud the Danish treasury of 1.1bn kroner through refunds for tax dividends. The bank made a substantial sum in fees and was eventually fined in 2019.

Judge Roland Zickler said last year there would be more trials

Denmark’s was just one of a number of European treasuries caught up in the so-called “cum-ex” scandal, in which tax refunds on share sales were claimed by both parties on tax that had only been paid once. 

In total, 12.7bn kroner was paid out to foreign-based people or companies, exploiting a loophole that allows foreigners to avoid the tax on dividends that Danes have to pay: Germany fears huge losses in massive tax scandal

Two other Britons were charged in January for their alleged role in the Danish fraud. Among them is hedge-fund investor Sanjay Shah, who is reportedly in Dubai and denies any wrongdoing. He is also being prosecuted by German authorities.

Two British bankers were given suspended sentences by a German court last year for what the judge called a “collective case of thievery from state coffers”. The cum-ex scam is estimated to have cost Germany’s treasury €5bn.

Denmark has worked with UK, German and Belgian authorities on the scandal for the past five years.

Fraud prosecutors in Copenhagen said in February they were looking into a variety of networks of people and companies that had sought dividend tax refunds. They froze Sanjay Shah’s mansion in London’s Hyde Park last year as part of their case.

Prosecutors say they have now charged suspects linked to 10bn kroner out of the total defrauded from the Danish treasury.

#AceNewsDesk report ………..Published: Apr.14: 2021:

Editor says #AceNewsDesk reports by https://t.me/acenewsdaily and all our posts, also links can be found at here for Twitter and Live Feeds https://acenewsroom.wordpress.com/ and thanks for following as always appreciate every like, reblog or retweet and free help and guidance tips on your PC software or need help & guidance from our experts AcePCHelp.WordPress.Com

#denmark, #fraud, #scandal

TURKEY: ‘ TRIAL OF 13 POLICE OFFICERS ACCUSED OF SPYING ON ERDOGAN STARTS ‘

#AceWorldNews – TURKEY:Jan.02:The trial of 13 Turkish police officers began in Ankara on Friday.

The officers are accused of setting up bugs to spy on President Recep Tayyip Erdogan when he was prime minister during the corruption scandal in December 2013.

However, only eight of them will be present at the court as five others are on the run.

If found guilty, they face over 30 years in prison.

Erdogan said their actions were concocted by his political rival Fethullah Gulen to bring down his government.

#ANS2015

#corruption, #anakara, #court, #scandal

‘ TWENTY SEVEN PEOPLE ARRESTED BY BRAZILIAN POLICE OVER PETROBRAS CORRUPTION CASE ‘

#AceWorldNews – BRAZIL (Rio De-Janeiro) – Nov.15 – Twenty-seven people were arrested by Brazilian police in connection with a corruption case involving state-owned oil giant Petrobras.

'Brazilian police arrest 27 in Petrobras graft case '

‘Brazilian police arrest 27 in Petrobras graft case ‘

Among the arrestees is the former director of engineering and services, Renato Duque, AFP reported.

Thirty police teams took part in the arrests that swept the country.

Police also searched 11 companies during the operation and seized $277 million worth of assets belonging to 36 individuals and three companies.

The breakthrough in the case against Petrobras reportedly came after former official Paulo Roberto Costa made a plea deal with the prosecutors, revealing that the firm gave out millions of dollars to politicians of the ruling Workers Party between 2004 and 2012.

According to police, a total of around $3.9 billion was paid out during that time.

#ANS2014 

#corruption, #arrested, #oil, #police, #scandal

BRITAIN: ‘ CHILD ABUSE HOME OFFICE FILES SHOW NO EVIDENCE OF COVER-UP ‘

#AceBreakingNews – BRITAIN – Nov.11 – A review into how the Home Office handled files containing high-profile historical child abuse allegations has been published Sky News just reported. 

'Theresa May and Report Author Peter Wanless -Screenshot from 2014-11-11 13:25:13 '

‘Theresa May and Report Author Peter Wanless -Screenshot from 2014-11-11 13:25:13 ‘

NSPCC Chief Executive Peter Wanless was brought in to investigate after an internal review found the department had “lost or destroyed” 114 files between 1979 and 1999.

Mr Wanless and Richard Whittam QC were asked to address allegations that the Home Office failed to act on information received about abuse allegations in the 1980s.

The report found it had not been possible after some 30 years to establish exactly what had been given to the Home Office and what action had been taken because there was no system of routinely recording such referrals.

But the authors said extensive searches had not uncovered evidence of “organised attempts” by officials to conceal child abuse.

The report found no evidence that the Home Office had funded the notorious pro-paedophile Paedophile Information Exchange (PIE) – but said the possibility could not be dismissed entirely.

Facing questions about his review from MPs on the Home Affairs Select Committee, Mr Wanless said he found Home Office record keeping was “a mess”.

Source: 

#ANS2014 

#abuse, #child, #scandal