Macquarie CEO suspect in German tax scam, as probe widens

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Sixty current and former Macquarie employees have been named as suspects in a German investigation into short-selling activities.

Sixty current and former Macquarie employees, including its chief executive Shemara Wikramanayake, have been named as suspects in a German investigation into short-selling activities.60 former and current Macquarie employees are among 400 suspects in a German tax scam probe

It is being alleged that financial institutions exploited a legal loophole which, at the time, allowed two parties to simultaneously claim ownership of the same shares, and therefore claim tax rebates which they were not entitled to.The investment bank acted as a lender to a group of funds involved in the share trading in 2011, from which it withdrew in 2012.

Macquarie said most of the 60 suspects are no longer at the investment bank, and no current Macquarie employees had yet been interviewed as part of the investigation.

 

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No surprise

Intersectional Theory will allow Shemara Wikramanayake fly under the radar on this. You'd think the board would stand her down while she's being investigated.

Macquarie I always thought she was dirty.

Brown people don't respect white countries.

Now a $98 Billion tax scam. Macquarie has always had a less than spotless reputation & yet avoided the Banking Royal Commission. Why is that JoshFrydenberg

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