Bank employee alleged to have sold data concerning tax evasion to German tax authorities
Already in July 2016, charges were brought against the former bank employee. He is said to have sold bank data with the proof of tax evasion to the German tax authorities between 2005 and 2012. North Rhine-Westphalia is said to have paid more than 1 million euros to the accused for this tax CD.
The client data sold to North Rhine-Westphalia are mainly foundations administered by UBS and the beneficial owners of such foundations in Germany. According to the indictment, only the accused had been suspected of retrieving customer data from the Swiss bank.
In Germany, there has been a wave of voluntary tax disclosures in recent years due to press reports on tax CDs.