Schlamassel für Zumwinkel
German prosecutors have accused Klaus Zumwinkel, one of the country’s most prominent business executives, of tax evasion. Zumwinkel is the chief executive of Deutsche Post and head of the supervisory board of Deutsche Telekom.
Zumwinkel was questioned and released by investigators after posting bail. He is suspected of evading 1 million euros (worth $1.45 million as of today at 4pm) in tax. He reportedly did so by funneling money through investment vehicles in Liechtenstein.
Prior to Zumwinkel’s questioning, police raided his home in Cologne and his office at the Post Tower in Bonn.
Speculation that Zumwinkel would step down this year from Deutsche Post had already been circulating after a series of disastrous economic reports. I think we can pretty safely say that if he doesn’t, it will be done for him.
Tags: Deutsche Post, deutsche telekom, Germany, Klaus Zumwinkel, tax evasionRelated Stories
POSTED IN: international, prosecutions, felonies and misdemeanors
2 opinions for Schlamassel für Zumwinkel
Germany Taking Big Money Tax Evasion Seriously
Feb 23, 2008 at 7:39 am
[…] is getting tough on tax evaders hot on the heels of Zumwinkel’s arrest. Much of the money is headed Liechtenstein, a haven for tax evaders because of its strict […]
Homes Raided in Massive German Tax Evasion Crackdown
Feb 25, 2008 at 2:38 pm
[…] The German government believes that as much as €3.4 billion ($5 billion US) have been transferred to Liechtenstein in an attempt to evade taxation in Germany. The most prominent German named in the scandal to date is Klaus Zumwinkel, the now former chief executive of Deutsche Post; he is facing criminal charges of trying to escape paying more than €1million ($1.5 million US) of tax. […]
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