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.
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