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German tax probe helps to recoup $41.2 million

Kessler, Roman. Wall Street Journal, Europe; Brussels [Brussels]27 Feb 2008: 22.

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German private banks Berenberg Bank, B. Metzler seel. Sohn & Co. KGaA and Hauck & Aufhaeuser confirmed
they were approached by prosecutors. Dresdner Bank AG, a unit of Allianz SE, and UBS Deutschland AG, a unit of
UBS AG, also confirmed investigations.

Vontobel Holding said yesterday that it hasn't been contacted by prosecutors. "Thus far, we have not been
contacted by the German authorities," Vontobel spokesman Jurg Stahelin said.

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FRANKFURT -- German prosecutors said they have recovered 27.8 million euros ($ 41 . 2 million ) in a probe into
tax evasion by Germans who allegedly funneled money through offshore accounts in Liechtenstein.

Based on data obtained by Germany's foreign intelligence service, prosecutors launched raids across the country
in recent weeks, targeting about 150 suspects and focusing on 120 cases.

Some 91 people admitted to tax evasion, and 72 turned themselves in, prosecutors said.

"The number of voluntary reports of tax evasion is increasing," prosecutors said, encouraging some to think
more money could be recovered soon.

The amount is enormous, prosecutors said.

In three cases, investigators suspect German banks helped select clients transfer money to Liechtenstein.

German private banks Berenberg Bank, B. Metzler seel. Sohn & Co. KGaA and Hauck & Aufhaeuser confirmed
they were approached by prosecutors. Dresdner Bank AG, a unit of Allianz SE, and UBS Deutschland AG, a unit of
UBS AG, also confirmed investigations.

Prosecutors repeated that a second non- German bank is involved in the investigation.

The German daily Sueddeutsche Zeitung reported that Vontobel Holding AG unit Vontobel Treuhand AG is the
second Liechtenstein bank involved.

Vontobel Holding said yesterday that it hasn't been contacted by prosecutors. "Thus far, we have not been
contacted by the German authorities," Vontobel spokesman Jurg Stahelin said.
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7/4/2018 German tax probe helps to recoup $41.2 million - ProQuest

Vontobel also denied that client data from its Liechtenstein-based subsidiary had been stolen or
misappropriated.

Senior prosecutor Eduard Gueroff declined to comment on whether Vontobel Treuhand is involved.

"We can only say that we have information pointing to a second foreign bank that is active on an international
scale and has branches in Germany," Mr. Gueroff said. He said that commenting further would hinder the
investigation.

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