German Chancellor Scholz Faces Renewed Scrutiny Over Cum-Ex Scandal

Opposition accuses Scholz of political influence and misstatements in Hamburg's investigation of tax fraud cases involving major banks.

A Hamburg parliamentary inquiry has reignited allegations that Olaf Scholz, as mayor, played a role in shielding the Warburg Bank from repaying millions in fraudulent tax refunds.
Opposition parties, including CDU, Linke, and AfD, claim Scholz and his successor Peter Tschentscher politically influenced decisions to let tax claims lapse into expiration.
Scholz's repeated memory lapses regarding meetings with Warburg Bank co-owner Christian Olearius, who faced tax fraud investigations, have fueled suspicions of concealed involvement.
The inquiry also highlights failures in addressing similar tax fraud at the state-owned HSH Nordbank, with critics citing weak oversight and poor staffing in Hamburg's tax administration.
The final report of the parliamentary investigation, set for debate next week, is expected to further divide opinions, with SPD and Greens denying any political interference while opposition parties argue otherwise.