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Former bank employees have received bonuses worth millions of euros in an illegal trading scheme that also involved a tax lawyer, prosecutors in Frankfurt revealed this week. The case is part of multiple investigations carried out across Germany, the hardest hit country in a notorious tax fraud scandal known as the Cum-ex Files.

https://news.bitcoin.com/6-bankers-accused-of-earning-e30m-in-bonuses-from-german-fraud-tax-lawyer-out-on-e4m-bail/

Greedy fools got caught. Why try illegal crime when your primary business is a fully legal scam which cheats honest working people?

Is this news shocking at all? No it isnt.We have seen already in the past about these Bankers got involved into any fraud or shady bonuses and this isnt a new business or new thing.

Unfortunate for those who are caught but what about those are still uncaught, I believe this kind of thing are happening around the globe. Bankers are really prone to this kind of temptation, because of their overflowing greed they don’t think twice to do nasty things.

The reason for increased corruption in banking would be the rising trend between politics and the reliance and control of major national banks while being the primary dealers in government treasury debt.   The two are mutually dependent enterprises, a duopoly.
  A normal bank financed by its own money would never risk a bad reputation in such a haphazard way, its beyond memory now but banking used to be a staid solid profession that depended on those willing to commit a career towards winning over the trust required to direct the banks assets.    Now we have become far more a speculative economy driven more by debt then trade so much.    Some argue this is a good thing with links to gains in technology and is justified by efficiency progress in the economy but there is no doubt the common worker is suffering a comparative working wage decline.

The big time bankers are the manipulators of the world's wealth and even governments so I don't think this is something which is kind of unimaginable for them to do.

And tax lawyers? They have been doing all kinds of dirty and shady jobs for the bankers. Trimming down on taxes and evading the rest, clearing up their tracks, and so on.

Surprisingly.. it isn't surprising to me. Like really, most of those who work in relàtion to tas and banks are, in one way or another, involved with some form or corruption/illegal activities. Plus, I'd guess opportunities came and they failed to control their greed. The sad thing about this is even though such people have already been condemned, they still walk the streets freely after paying. Just like what they say, money makes the world go round.

So its just like this.

Institution received dividends say ex. 100 in which 15% of that are withheld and has an attachment of tax cert. So net of 85.

Then eventually they, will file income tax return Assuming their income tax rate is 20%. The computation would be
Income of 100 multiply by 20%, that would give a 20 tax payable.

But before that, they will deduct instead of 15 tax cert above, they will deduct 25. And that would give them a tax refund of 5 (25-20).

The tax authorities can only detect such wrongful info, via from dividend issuer, income tax return coz they're gonna check the tax credit.

Not shocking to be honest, we all know that there are a lot of sheep in wolf's clothing, many still exist up to this day. Those bankers are one of the most corrupt to be honest, it's that some of them are really powerful and can't be simply touch by law. Good though that German government are clamping down hard on them. I'm sure this will not be the last and we will hear from them in the future. I remember in our country, a similar crack down happen, but then again, they have so much money that they can bend the law.

This is only but a few bankers out there in the world, who knows what scheme's they might be doing. I've seen some guy posted here in the forum about an authorized used for his money for some donations by the banks.
With many illegal activity & corruption, debt rising and interest rates. People still trust their money with this monetary system that wouldn't even let you them use their own cash.

Not really weird. Hell, it'd would be weird if news such like this didn't appear on the news every now and then. It's kinda disappointing since it came to the point where corruption and illegal smuggling of money appears to be a norm towards those whom work in the banks/government now a days. Still, it seems like its only an accusation as of yet? And no hard evidence has been found? Still, since a complaint has been filed, You can already say that it's already half way in the courtcase.

Greedy people will just suffer the consequences of their own stupidity, they don't even analyze every situation that's why they end up in that kind of situation. They totally deserve that title particularly knowing that they are bankers they are capable on manipulating every situation, well they keep on finding an opportunity to deceive and take advantage of people. It's the reason why people these days are in doubt on trusting and believing anyone/anything because we don't know people's true intention especially when it comes to money, they can easily change their mindsets knowing that it can be beneficial but since they don't even think the possible outcomes of their decisions and action they end up making a mistake that ruin their plans and everything.

Good thing that they were caught and maybe now facing prosecution for them to pay the crimes committed. As we know, this can be quite common with the banking industry and I would assume that only a few countries can be immune to this corruption. As long we are dealing with human beings, there will always be schemes and scams that can happen because we are always tempted to get more than what we are deserving. Is this bad human trait not showing up in the cryptocurrency industry? I prefer not to answer my own question.

I personally blame the German government for having such a stupid tax code with such huge loopholes.

They all know that banks and others will exploit loopholes, this is what they've been doing since the dawn of time - so design the legislation to prevent them!

The loophole was open from 2001 to 2012 - so legislators were asleep at the wheel if they didn't realise that a) a loophole existed and b) didn't rush to close it.