Saturday, 21st November 2009

 

10 November 2008 - Asha Vaghela

Top former boss faces tax evasion charges

A former chief executive officer at Deutsche Post has been charged with tax evasion in connection with money transfers to foundations in Liechtenstein.

Klaus Zumwinkel, 64, quit in February as chief executive of Europe's biggest mail carrier and has been investigated since then over claims he evaded €1m ($1.3m) in taxes using accounts in Liechtenstein.

Court spokesman Volker Talarowski said details of the charges against Zumwinkel will be issued in a month, after it becomes clear whether the case will come to trial or not, according to a Bloomberg report.

Zumwinkel became head of Deutsche Post AG in 1990 and oversaw the company's initial public offering over seven years ago.

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