Sunday, 8th 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.

Most Read

  1. Barclays Wealth team leaves for Standard Chartered
  2. Lloyds wealth team quits after bonus worries
  3. UBS wealth unit takes £33m hit on rogue trades
  4. Morgan Stanley poaches six-member private wealth team from UBS
  5. Citigroup plans 75 layoffs at wealth management division

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

Sotheby's 3Q loss widens

Sotheby's third-quarter loss widened as the art auction house posted a worst-than-expected decline in revenue and a tax expense.

More from Tax, trust and legal

  1. In Tax Case, 4 Days Save Robertson $27 Million
  2. Tax amnesty proves a hit among Italians
  3. UK tax authorities cast net wider for offshore money
  4. End of the tax haven vacation
  5. Private banks positive on global recovery

Related Content

  1. OECD launches probe into tax issues for the wealthy
  2. Street firms accused of tax scheme
  3. Liechtenstein to unveil tougher laws on tax evasion
  4. UK tax authorities intensify crackdown on offshore accounts
  5. Offshore Tax Evasion Costs U.S. $100 Billion, Senate Probe of UBS, LGT Indicates

2nd Floor, Stapleton House, 29-33 Scrutton Street, London, EC2A 4HU

Tel: +44 (0) 20 7309 7788

Company No 3089347