German Cum-Ex Whistleblower Faces Swiss Court Over Economic Espionage Charges

Eckart Seith, celebrated for exposing a major tax fraud scheme, is on trial in Zurich for allegedly obtaining confidential bank documents in 2013.

Eckart Seith, a German lawyer known for uncovering the Cum-Ex tax fraud scandal, is facing renewed charges of economic espionage in Switzerland.
The case revolves around Seith's use of internal documents from the Swiss bank J. Safra Sarasin to expose illegal financial activities that cost governments billions in lost tax revenue.
Seith was initially acquitted of espionage in 2019, but the Swiss Federal Court overturned the decision, leading to a retrial in Zurich this week.
The Cum-Ex scandal involved complex stock trades that exploited legal loopholes, allowing multiple refunds of a single tax payment, with damages estimated at €10 billion for Germany alone.
Seith has received significant support from German financial reform advocates, who argue his actions were crucial in exposing a Europe-wide network of tax fraud.