U.S. Federal prosecutors have announced a lawsuit against a major German bank, charging it engaged in an “abusive scheme” to avoid paying tax. United States Attorney for the Southern District of New York, Preet Bharara, announced the charges today, claiming that Deutsche Bank AG (NYSE:DB) (ETR:DBK) engaged in what amounted to a “shell game” to avoid paying $190 million in tax liability. Deutsche Bank attempted to disappear it’s potential tax liabilities “Through fraudulent conveyances involving shell companies, Deutsche Bank tried to make its potential tax liabilities disappear,” Bharara said in a statement. “This was nothing more than a shell game. This…
Deutsche Bank Charged By US Prosecutors in Tax "Scheme"
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
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