Maple Bank
| Maple Bank GmbH | |
|---|---|
| Country |
 Germany
|
| Seat | Frankfurt am Main |
| legal form | GmbH in bankruptcy |
| founding | 1994 |
| Website | www.maplebank.com |
| Business data 2014 | |
| Total assets | 3.753 billion euros |
| insoles | 1.985 billion euros |
| Customer credit | 287 million euros |
| Employee | 220 |
| Offices | 3 |
| management | |
| Supervisory board | Thomas R. Higgins (Chairman) William KH Fung |
| Corporate management |
Stefan Bungarten ( CEO ) |
The Maple Bank GmbH is a German bank based in Frankfurt and a branch in the Canadian Toronto and in the Netherlands The Hague . Most recently, 220 people were employed at all locations and subsidiaries. The GmbH is in insolvency proceedings .
The Maple Bank is suspected of having defrauded German tax authorities with share transactions of around 450 million euros. With so-called cum-ex transactions , securities were shifted so frequently between different owners that the state reimbursed capital gains tax several times.
Memberships
Maple Bank is a member of the Association of German Banks , Association of Foreign Banks in Germany , Deposit Protection Fund of the Association of German Banks and other banking associations.
Investigations into tax reduction and bankruptcy
In the course of investigations by the German tax authorities into tax evasion in the context of cum and ex transactions, Maple Bank is demanding 450 million euros in taxes. The bank's equity amounted to 378 million euros as of September 30, 2014; the 2015 balance sheet has not yet been published. The shareholders of the Maple Financial Group only wanted to support their German subsidiary financially to a limited extent.
In autumn 2015 almost 300 public prosecutors, tax investigators and BKA investigators searched the Frankfurt branch of the Maple Bank.
The BaFin adopted, on 6 February 2016 in respect of threatened balance sheet indebtedness disposals and payments ban and a moratorium . Since then, the bank has been closed to customers.
On February 11, 2016, the BaFin determined the compensation case for the Maple Bank, as the institute was no longer able to repay all customer deposits . On the same day, the Frankfurt District Court opened insolvency proceedings . The compensation was already completed on March 11, 2016 after the payout of 2.6 billion euros to depositors.
In August 2019, the insolvency administrator of Maple Bank reached an agreement with Freshfields Bruckhaus Deringer on damages of 50 million euros, which the firm had to pay due to its cum-ex legal advice.
The former head of the bank, Wolfgang Schuck, and another ex-managing director of the bank were arrested in December 2019 for cum and ex . The Frankfurt Public Prosecutor's Office had obtained arrest warrants for the risk of escape.
Investors
As the Tagesschau published on April 22, 2016, federal states and municipalities financed the bank with several hundred million euros until it was liquidated in February 2016. Mecklenburg-Western Pomerania had invested 59 million euros in the bank, Rhineland-Palatinate 55 million euros, Lower Saxony 50 million euros and Berlin 7.7 million euros. The Rheinische Post reported that the state of North Rhine-Westphalia had invested 65 million euros in the Maple Bank.
Many German municipalities did business with the financial institution. The city of Munich invested around 35.6 million euros in Maple and the city of Bonn 7.7 million euros.
Web links
- www.maplebank.com
- Maple Bank in the company database of BaFin
Individual evidence
- ↑ a b Annex to the annual financial statements of Maple Bank GmbH as of September 30, 2014. (PDF; 183 kB) Information on the branches and subsidiaries. Maple Bank, accessed February 8, 2016 .
- ↑ a b Offices. Maple Financial Group , accessed February 9, 2016 .
- ↑ Annual Report 2013/14. (PDF; 280 kB) Maple Bank, accessed February 8, 2016 .
- ↑ Imprint. (No longer available online.) Maple Bank, archived from the original on February 8, 2016 ; accessed on February 8, 2016 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ a b tagesschau.de: Taxpayers financed scandal bank. In: tagesschau.de. Retrieved April 22, 2016 .
- ↑ Memberships including the Toronto branch. (No longer available online.) Maple Bank, archived from the original on February 8, 2016 ; accessed on February 8, 2016 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ bafin.de: BaFin orders a moratorium on Maple Bank GmbH ( memento of the original dated February 10, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. ; Questions and answers about Maple Bank GmbH
- ↑ Klaus Ott: No mercy on dubious stock deals . Treasury is demanding hundreds of millions of euros back from Maple Bank, which must now close. In: Süddeutsche Zeitung . February 8, 2016, p. 19 .
- ↑ BaFin establishes compensation claim for Maple Bank GmbH
- ↑ Maple Bank Compensation Case Closed
- ↑ Cum-Ex scandal - Almost two billion euros will go to the creditors of Maple Bank , Handelsblatt, August 29, 2019, accessed December 8, 2019
- ↑ FAZ , December 13, 2019
Coordinates: 50 ° 6 ′ 55.1 ″ N , 8 ° 39 ′ 46.8 ″ E