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Switzerland Today

Swiss news in English

Saturday, January 18, 2025

Whistleblower Cleared in Cum-ex Scandal

Published: 2024-12-13

Eckart Seith, a prominent whistleblower in the Cum-ex tax fraud scandal, has seen the charges against him dropped by a Zurich court.

Seith, who played a crucial role in exposing the fraudulent schemes that allowed banks and traders to claim multiple tax refunds on dividend payments, was previously accused of economic espionage and violating Swiss banking laws.

The court's decision to dismiss the case was based on procedural issues, including the bias of the investigating prosecutor and the inadmissibility of key evidence.

Seith's actions had led to the recovery of at least 460 million euros in Germany, but he faced legal challenges in Switzerland for his efforts.

The dismissal of the case has been welcomed by supporters, including the civic movement Finanzwende, who view Seith as a hero for his contributions to uncovering the scandal.

The decision is not yet final, and Seith may seek compensation for legal costs incurred during the lengthy proceedings.