French media said that the German prosecutor raided a large US asset management company on the 6th.BlackardThe investment group Munich office, which is part of a huge tax fraud investigation.
AFP reported on November 6 that the German "Pictorial" reported that 15 to 20 investigators from the Cologne Prosecutor's Office conducted a search on the company, and the search between them and the company between 2007 and 2010 The so-called dividend divestiture is related to the investigation of the role played by the "cum-ex" transaction.
This complex approach allows stockholders to request multiple refunds of dividend payments that are paid only once. It is believed that taxpayers have lost billions of euros.
According to reports, a few days before the raid, Friedrich Mertz, head of the German business of BlackRock Investment Group, participated in the election and was preparing to succeed the German Chancellor.MerckAs the chairman of the Central Right-wing Christian Democratic Union, this has made the BlackRock Investment Group receive attention.
"Pictorial" pointed out that Merz joined the BlackRock Investment Group in 2016, after the suspicious dividend divestiture exposure.
A Cologne prosecutor declined to comment on the surprise inspection.
BlackRock did not immediately respond to AFP's request for comment, but the "Pictorial" quoted the company's claim that it was "full cooperation" with the German authorities.
According to reports, the dividend divestiture method relies on several investors buying and selling each company's shares on the day the company pays dividends.Stocks change hands so fast that tax authorities cannot determine who is the real owner. Through cooperation, investors can apply for multiple refunds for tax payments for dividends and share profits – the Treasury will pay for it.
According to reports, according to a survey conducted by 19 media last month, this practice had caused Germany to lose about 7.2 billion euros before it was discovered in 2012.
Agence France-Presse said that Germany has conducted several criminal investigations. The survey found that other European countries were also affected, with Denmark losing about 1.7 billion euros and Belgium losing 200 million euros.
(Article source: reference message)