British bankers on trial in Germany charged with €447m fraud
by Philip Oltermann in Berlin from World news | The Guardian on (#4PKCX)
UK pair accused of defrauding German state through 'cum-ex' share trading scheme
Two British investment bankers have gone on trial in Bonn in what German media have called "the biggest financial fraud trial" in the country's postwar history.
The two British citizens, Martin Shields, 41, and Nicholas Diable, 38, are accused of having defrauded the German state of a447.5m (405m) from London's banking district with so-called cum-ex trading schemes, a complex shell game of share transactions.
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