Sixty current and former Macquarie employees have been named as suspects in a German investigation into short-selling activities.
Sixty current and former Macquarie employees, including its chief executive Shemara Wikramanayake, have been named as suspects in a German investigation into short-selling activities.60 former and current Macquarie employees are among 400 suspects in a German tax scam probe
It is being alleged that financial institutions exploited a legal loophole which, at the time, allowed two parties to simultaneously claim ownership of the same shares, and therefore claim tax rebates which they were not entitled to.The investment bank acted as a lender to a group of funds involved in the share trading in 2011, from which it withdrew in 2012.
Macquarie said most of the 60 suspects are no longer at the investment bank, and no current Macquarie employees had yet been interviewed as part of the investigation.
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