Report - 8 Deutsche Bank employees to be charged over tax fraud

Deutsche Bank - Foyer Bridge

A German prosecutor is set to charge eight Deutsche Bank employees following an investigation into tax fraud linked to trading of carbon certificates, Der Spiegel magazine reported on Saturday, without disclosing any sources.

Reuters reports that Frankfurt's chief prosecutor will accuse them of securing fees and bonuses from participating in a carbon emission certificate scam that resulted in tax evasion worth $149m, the magazine reported.

At least 14 people have been jailed in three countries so far for their involvement in carbon trading VAT fraud. European police agency Europol has estimated such crime has cost taxpayers more than $5.5bn in lost revenue since 2008.

To access the complete Reuters article hit the link below:

German prosecutor to charge eight Deutsche Bank staff in carbon tax case -Spiegel

UBS posts 1.2 billion Swiss francs quarterly profit in early results

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts