Leftists see indirect SPD influence on "cum-ex" scandal

Leftists see indirect SPD influence on "cum-ex" scandal

Around three years after the start of the parliamentary committee of inquiry into the Warburg Bank "cum-ex" scandal, Hamburg's Left Party believes that there was at least indirect influence from senior SPD representatives in the case. Important parts of the tax authorities had acted as "vehement defenders of the tax robber", said Norbert Hackbusch, the Left Party chairman of the committee, on Monday on the occasion of the committee's interim report planned for Wednesday. This was only possible with the backing of the then finance senator and current mayor Peter Tschentscher (SPD). However, Hackbusch conceded: "We have found no evidence (...) of direct influence." This concerns Tschentscher and also the then mayor and current chancellor Olaf Scholz (SPD).

The committee of inquiry was set up after three meetings between the then mayor Scholz and Warburg shareholders Christian Olearius and Max Warburg became known in 2016 and 2017. Olearius was already under investigation at the time on suspicion of serious tax fraud in connection with "cum-ex". After the first meetings, the tax office for large companies initially waived tax reclaims of 47 million euros against the financial institution in 2016 when the statute of limitations expired. A further 43 million euros were only claimed in 2017 on the instructions of the Federal Ministry of Finance shortly before the statute of limitations expired.

The Left Party did not directly demand a rescission. However, when asked, Left Party committee member David Stoop said: "In my view, that would be an appropriate step." He did not consider Tschentscher and Scholz's memory lapses to be credible. Scholz in particular had repeatedly stated in his statements to the committee of inquiry, but also in the Bundestag finance committee, that he could not remember specific things. However, he emphasized that he knew for certain that there had been no influence.

Hackbusch recalled that Scholz had asked Olearius after his visit to pass on his paper on the bank's situation to Finance Senator Tschentscher without further comment. Olearius' core thesis was that if the taxes were reclaimed, Warburg Bank would be threatened with bankruptcy. Tschentscher, in turn, then forwarded the paper to the tax authorities - which, in Hackbusch's view, is an indirect exertion of influence, because Tschentscher's personal forwarding in combination with the content of the letter was probably a kind of guideline for the tax officials - although Warburg Bank was not even on the brink of collapse.

The Hamburg SPD clique is alive and well, said Stoop, also referring to the connections of former member of the Bundestag Johannes Kahrs and former SPD Senator of the Interior Alfons Pawelczyk to Warburg Bank. The Hamburg-Mitte SPD alone, of which Kahrs was chairman, had received donations amounting to 38,000 euros from the bank or its associates in 2017. Pawelczyk, in turn, was well paid for his consultancy work for the bank. "This clearly shows the interlocking of SPD grandees with economic players in this city, where they also promise themselves advantages and access to politics that other taxpayers do not have."

1. Some critics argue that the close financial ties between certain SPD members and banks, such as Warburg, could potentially influence policies related to taxes and citizenship.
2. In light of the alleged indirect influence of SPD representatives in the Warburg Bank "cum-ex" scandal, some citizens are calling for stricter regulations to prevent conflicts of interest in financial institutions.
3. Despite the Left Party's allegations of indirect influence from senior SPD representatives in the Warburg Bank "cum-ex" scandal, there is no concrete evidence to suggest that taxes were manipulated or finances were mismanaged for political gain.

Source: www.dpa.com