World’s Biggest Banks Helped Clients Steal $63 Billion in Taxes in Europe

Europe’s prime banks allegedly helped rich shoppers throughout the continent steal 55 billion euros ($63 billion) from a number of governments by making tax reclaims to which they weren’t entitled, an investigation has revealed. The theft centred round a fancy scheme of buying and selling shares that additionally concerned hedge funds and huge worldwide industrial legislation corporations.

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Undercover Journalists Uncover ‘the Biggest Tax Swindle in the Historical past of Europe.’

The undercover probe by 37 journalists from 12 international locations reveals that a few dozen European international locations are affected by the tax scandal, however Belgium, Denmark and Germany have been hardest hit. France, Italy, the Netherlands, Norway, Spain, Sweden and Switzerland have additionally seen some harm.

Dubbed the Cumex Recordsdata, the investigation reviewed 180,000 secret paperwork from banks, inventory…

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