Shred the Shredder Law: Ex-Prosecutor Brorhilker Pushes Back Against Financial Skullduggery
Former State Prosecutor Brohilker Advocates for Legislation to Limit Paper Destruction - Previous legal officer Brorhilker advocates for halting the "paper-cutting legislation"
Get ready for a rollercoaster ride through the world of dirty dealing, where the line between legal and illegal gets blurred faster than you can say "Cum-Ex." Former Cologne Chief Prosecutor, the tenacious Anne Brorhilker, is making waves, calling for swift action on financial chicanery.
Time's a-tickin', folks. Brorhilker warns that culprits are racing against the clock—not just because of sneaky time limits, but also due to the recent shortening of documentation retention periods. In today's bureaucratic jungle, these decrease-pruning measures are disguised as bureaucratic reduction, providing a cozy hideout for shady dealers.
At a meet-up with the Club of Hamburg Economic Journalists, Brorhilker laid it all out: we gotta nab those elusive Cum-Cum cases while we still can. The new year is the perfect time to cast a spotlight on the slime-balls under the murky waters.
As a prosecutor, Brorhilker's no stranger to the high-stakes game of sleuthing. Over a thousand cases saw her rummaging through bank vaults, government offices, even the swanky abodes of top-tier political honchos. And don't forget the Hamburg parliamentary inquiry into that juicy Cum-Ex scandal.
So, what exactly is this Cum-Ex hullabaloo all about? In the twisted world of banking and investor scams, the Cum-Ex transactions lead to claims of billions in tax refunds that were never paid. The dubious Cum-Cum deals, on the other hand, aim to dodge capital gains tax entirely. According to Brorhilker, these devilish deals often snowball, with smarty-pants con-artists spinning one transaction into another.
For Cum-Ex transactions, the estimated losses? A cool 10 billion euros. For Cum-Cum? A staggering 30 billion euros!
But don't worry, the state's got you covered, right? Not so much, it seems. Brorhilker spills the beans: the state's recovery rate for Cum-Cum transactions is abysmal—less than one percent! So, we gotta pile on the pressure, duke it out, and bury that shortened retention period once and for all. "This law ain't about us honest Joes; it's all about the weasels practicing deception," says Brorhilker. Honest companies are already keeping their records tight due to tax audits—so the maneuver's just giving crooks a chance to squeeze through the loopholes.
Now, let's dive into the juicy world of savings banks and their role in Cum-Cum transactions. Brorhilker wants everyone's eyes on these fishy beasts, claiming they've not only been up to their silly Cum-Cum tricks, but they've been intangled in structured bond loans too. Despite being bound by a legal obligation to act in the best interests of the public, these financial wonders seem more interested in draining the public treasury than making it swell. "Gotta squint real hard to see that," muses Brorhilker. "But if an institution's sworn to act in the public's best interest, it sure ain't right to make the public's purse lighter."
- In her call for action against financial chicanery, former Cologne Chief Prosecutor Anne Brorhilker has highlighted the importance of not just tackling 'Cum-Ex' cases but also 'Cum-Cum' deals as they aim to evade capital gains tax.
- According to Brorhilker, the state's recovery rate for 'Cum-Cum' transactions is abysmal, with less than one percent being retrieved, which urgently needs improvement.
- Brorhilker has pointed out the role of savings banks in 'Cum-Cum' transactions and structured bond loans, suggesting that they are prioritizing their own interests over the public's, as they are bound by a legal obligation to act in the best interest of the public.
