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German bank fined for cheating Danish tax system
By EUobserver
Germany's North Channel Bank in Mainz accepted on Monday to pay 110 million Danish crowns (€15m) in fines for assisting tax-fraud against the Danish state. The bank's CEO, Gunnar Volker, admitted it made €7.5m in profits on fictional trading of shares. A cross-border journalistic investigation, CumExFiles, revealed in 2017 that Europe's taxpayers were in total swindled out of €55bn through the scam.