SHARE
COPY LINK

CRIME

Liechtenstein bank owes tax dodger damages, court rules

A German tax dodger has won millions in damages in a suit against his Liechtenstein bank for failing to reveal that his information was stolen along with hundreds of other account holders and sold to Berlin for a criminal investigation.

Liechtenstein bank owes tax dodger damages, court rules
Photo: DPA

The case against LGT Treuhand, a former subsidiary of the LGT Group, was decided in January, according to a report in daily Süddeutsche Zeitung on Monday.

The Bad Homberg real estate developer, who was exposed for tax evasion when a bank employee sold the data to the German intelligence service for €4.5 million two years ago, has been awarded €7.3 million by the Vaduz district court.

The tax fraud scandal that followed the sale of the data pointed to some of Germany’s top earners, among them former Deutsche Post boss Klaus Zumwinkel, who was convicted to two years probation and a hefty fine in January 2009. According to the paper, state prosecutors are still investigating up to half of the 845 cases involved.

The Liechtenstein court case has been closely watched by numerous other Germans who are also planning to sue the bank, the paper said.

They argue that if the bank had informed them that their data had been sold, they could have turned themselves in, receiving temporary amnesty and much lower fines.

The bank subsidiary’s successor Fiduco Treuhand AG plans to appeal the case, the paper said.

Meanwhile a newly uncovered tax evasion scandal reached a new dimension last week, as German officials said more stolen data detailing up to 1,500 tax dodgers with funds stashed in Swiss accounts could mean some €400 million in unpaid taxes for state coffers.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.

CRIME

Two Ukrainians killed outside shopping centre in Bavaria

Two men were killed in front of a shopping centre in Murnau, a town in the Bavarian district of Garmisch-Partenkirchen, on Saturday.

Two Ukrainians killed outside shopping centre in Bavaria

A 36-year-old man died from his injuries at the scene, while a 23-year-old man was taken to hospital with serious injuries, where he later died, police said on Saturday evening.

Both of the victims were Ukrainian citizens who lived in the Garmisch-Partenkirchen district, police said.

The same evening, police arrested a 57-year-old suspect – said to be a Russian national – who lives near the crime scene.

The 57-year-old is now being investigated on suspicion of murder.

“The exact course of events, background and motive are now the subject of the criminal investigation,” the police said.

The public prosecutor’s office has applied for a warrant for the suspect’s arrest.

SHOW COMMENTS