INTERPOL had added a former London banker to its international most wanted list over a massive tax scam that caused €113m in damages to the German state.
Paul Mora, a New Zealand national who previously worked in the City of London, has been added to Interpol’s International most-wanted list for his role in the “cum-ex” scandal that caused €113m in damages against Germany’s tax system.
In 2017, Frankfurt prosecutors opened a case into a group of bankers who had been engaged in the complex derivatives trading scheme. By trading shares at high speed before companies could identify the traders, the group claimed two or more tax refunds from the German state illegally accruing €113 million in the process.
One investigator described the scam as “the greatest tax robbery in German history”, and last year two British bankers were slapped with suspended prison sentences and multimillion fines by a Swiss court for their role in the elaborate scheme.
Interpol’s most-wanted list is usually reserved for fugitives whose whereabouts are completely unknown, though in Mora’s case he is openly living in his native New Zealand which does not share an extradition treaty with Germany. While he cannot currently be arrested, his place on the list will affect his ability to leave his homecountry.
During his time in the London financial world, Mora was known among traders for his fondness for rugby and for often wearing Hawaiian shirts to work instead of the customary designer suits of big-league traders.
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