A British investment banker at the center of Germany’s biggest fraud trial told judges on Thursday he earned millions of euros from deals involving “astronomical” trades that prosecutors say were a means to make bogus tax reclaims. Martin Shields, a former investment banker, said the trading, known as cum ex, thrived between 2005 and 2012, as investors from around the globe made multi-billion-euro trades on German companies. The trial where Shields is giving detailed evidence is the first in a wider investigation aimed at recovering billions from banks which prosecutors believe profited from the trades.

source https://finance.yahoo.com/news/banker-tells-german-fraud-trial-141616431.html?.tsrc=rss