Cum-Ex affair: No investigations against Scholz – the public prosecutor still sees no suspicion


In the scandal surrounding the so-called cum-ex transactions at Hamburg’s Warburg Bank, the Hamburg Attorney General’s office continues to exonerate Olaf Scholz. The authority rejected a criminal complaint filed by lawyer Gerhard Strate against the waiver of criminal proceedings.

According to the Hamburg Attorney General, there is still no initial suspicion of Hamburg Mayor Peter Tschentscher and his predecessor, Chancellor Olaf Scholz (both SPD) in the so-called Cum-Ex affair. A criminal complaint filed in February by lawyer Gerhard Strate on suspicion of aiding and abetting tax evasion against the two SPD politicians and other parties involved was therefore also rejected as unfounded by the public prosecutor’s office, a spokeswoman for the news agency confirmed dpa. The corresponding decision was therefore issued on August 10th.

After 200,000 euros in Kahrs' locker: Scholz does not want to have known anything

After 200,000 euros in Kahrs’ locker: Scholz does not want to have known anything

The public prosecutor’s office again refrained from opening preliminary proceedings against Scholz and Tschentscher in March because they continued to deny initial suspicion of criminal proceedings, the spokeswoman continued. The criminal complaint filed by Strate did not result in any findings that would have given reason to deviate from the earlier decision not to start investigations. This earlier decision was also confirmed by the appeal decision of the Attorney General’s Office of November 29, 2021, the spokeswoman explained:

“At the time, it was determined that Hamburg tax officials – and thus also their superiors – had not made themselves liable to prosecution when, in the exercise of their discretion, they failed to deduct capital gains tax of 47 million euros from cum-ex transactions from the Reclaim Warburg Bank AG.”

So far, there is still no evidence that the Chancellor made false statements in the Cum-Ex investigative committee, as the spokeswoman said. In this context, Scholz had only recently rejected any responsibility. “There is no evidence that there was any political influence,” he said in Berlin last week. “I am sure that this realization will not be changed.”

Can Scholz really not remember?

At the center of the so-called cum-ex affair is an outrageous suspicion: did the then mayor and current chancellor protect the Hamburg Warburg Bank from the tax authorities in 2016, despite its criminal stock transactions? At least it is in the room that he temporarily waived a 47 million euro tax refund against the bank. Whether with approval or even on the initiative of Scholz remains unknown. It was only some time later that the Hamburg tax authorities, after issuing a court order, tried to collect the outstanding amount of money.

New details in the Cum-Ex case – what does Scholz say?

New details in the Cum-Ex case – what does Scholz say?

In the matter, the Cologne public prosecutor’s office is already investigating two former Hamburg SPD politicians and a tax officer on suspicion of abetting tax evasion. In addition, a committee of inquiry has been analyzing the role of prominent SPD politicians in the scandal for years, including that of the then mayor of Hamburg and current Chancellor Olaf Scholz.

This is why some of the Union politicians are now demanding that Scholz make his private emails available to the Cologne public prosecutor. “Scholz must now disclose his private e-mail traffic to the investigators,” demanded the deputy leader of the parliamentary group in the Bundestag, Andrea Lindholz (CSU), in an interview with the picture. The Union spokesman in the investigative committee of the Hamburg Parliament, Götz Wiese, also complained:

“All Scholz’s emails and chats must be checked.”

More on the subject – Arrogant or sovereign? Chancellor Scholz is taciturn at the federal press conference

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