Olaf Scholz Denies Political Influence in Cum-Ex Scandal During Third Testimony
The German Chancellor reiterated his stance before the Hamburg inquiry, asserting no political involvement in tax decisions related to Warburg Bank or HSH Nordbank.
- Chancellor Olaf Scholz, in his third appearance before Hamburg's parliamentary inquiry, maintained that he had no political influence over tax decisions in the Cum-Ex scandal during his tenure as mayor.
- The investigation initially focused on the Warburg Bank's tax case but was later expanded to include multiple cases involving the former state-owned HSH Nordbank.
- Scholz emphasized his commitment to combating tax fraud, describing it as a serious crime, and called for thorough investigation and accountability for schemes like Cum-Ex and Cum-Cum.
- The HSH Nordbank was implicated in 29 Cum-Ex cases between 2008 and 2011, ultimately repaying €126 million in 2014 before being privatized and renamed Hamburg Commercial Bank.
- While Scholz and Hamburg Mayor Peter Tschentscher (SPD) denied any political interference, opposition parties argued there were indications of influence and plan to question former CDU officials involved with the HSH Nordbank.
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