A German lawyer has been arrested in Switzerland for being the alleged mastermind in a tax fraud scam that has cost countries across Europe billions of euros.
A German lawyer was arrested in Switzerland last week, with Swiss authorities acting on an arrest warrant that had been issued by German police. Hanno Berger is believed to have organised a massive tax fraud scheme that has cost European countries billions of dollars. Berger was not named by the Swiss federal justice department; however, his identity was leaked to reporters by anonymous sources.
Berger also acted as a middleman for the scheme’s investors. The scam was first uncovered in 2017 and involved several accomplices exchanging company stocks between themselves in order to claim multiple tax rebates in a single payment. According to media outlets, the scheme has cost countries billions of euros, with Germany reportedly losing 7,2 billion euros. Around 100 people have been tied in connection with the scam, including bankers, stock traders and lawyers.
The Swiss justice department reported that the man was fighting against his extradition to Germany, and his case is being examined. If Berger is found guilty, he could be sentenced to up to 10 years in prison.