5 MAJOR BANKS RAIDED over $100 BILLION fraud in France.
5 MAJOR BANKS RAIDED over $100 BILLION fraud in France.
Banks Raided: – HSBC – Societe Generale – BNP Paribas – Exane – Natixis
The PNF financial prosecution office said in a statement the probe was linked to so-called "cum-ex" dividend stripping, a trading scheme whereby banks and investors swiftly trade shares of companies around their dividend payout day.
The practice aims to blur stock ownership and allow multiple parties to illegally claim tax rebates on dividends.
Time for plan B 😉
submitted by /u/tambaybtc
[link] [comments]