Investigations after the Cum-Ex-transactions with Karstadt-pensions

company pensions of thousands of Karstadt-employees are, according to the Prosecutor's office for many years in the Cum-Ex-transactions flowed. Against Manager shall be determined under the other because of infidelity.

By Jennifer Long, NDR

Helga Reinke with Karstadt large, with the then fashionable Department stores, in which there was almost everything. Her mother worked at Karstadt. It began in 1983 as a cashier in the electric Department. A few years later she was elected to the works Council Chairman. "Yes, I felt as happy as a clam," she says.

18 years you work for the company. Now she is retired. Every month, Karstadt lay back for a couple of euros as a pension. You always thought your money was safe. "That there money is being taken and that, therefore, it is speculated that", no one knew in the workforce.

allegations against Manager Mix

The money of the Karstadt-retirees is to have embezzled, according to the Prosecutor's office, among other things, the top Manager Ulrich Mix. He is in the German Pensions Group as a managing Director for the management of pensions is responsible. The pension Group was for a long part of the KarstadtQuelle group. Mix is also on the Board of the KarstadtQuelle-employee trusts. In these funds, Karstadt had outsourced in times of crisis, the pension obligations to its employees.

In the years 2009 to 2011, the Manager should have arranged a 150 million Euro-heavy Cum-Ex-Deals. In the process, billions of shares in a short period of time and shuffled. So long until there is hardly to understand to whom the shares actually belong. The Deals alone, the goal is to have the state tax refund that were previously paid never.

1/6 So the "Cum-Ex"transactions

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