Archive · 23 Jul 2026
Swiss Court Orders Fresh Ruling in Cum-Ex Fraud Case
A Swiss court has decided to re-examine a case involving three men who were accused of breaking bank secrecy laws.
These men had leaked information that helped uncover a huge tax fraud scheme called cum-ex, which cost the German government up to €12 billion.
The lower court had dropped the case because it took too long and there were concerns about bias, but the higher court said these reasons weren't good enough to stop the case.
The men, including a lawyer named Eckart Seith, say they were trying to expose wrongdoing, but Swiss laws make it illegal to share bank secrets, even if it's to reveal crimes.
Switzerland’s highest court ordered a fresh ruling in the case of three men accused of breaching bank secrecy laws.
The Zurich High Court initially dropped the case due to lengthy delays and alleged bias.
The Federal Supreme Court ruled that the delays and bias did not justify halting proceedings.
The case involves Stuttgart lawyer Eckart Seith and two former German employees of Bank J. Safra Sarasin.
The cum-ex fraud involved complex stock trades to trick the government into refunding taxes, costing up to €12 billion.
- Who
- Three men, including Stuttgart lawyer Eckart Seith and two former German employees of Bank J. Safra Sarasin
- What
- Breaching bank secrecy laws over leaked data that helped expose the cum-ex tax fraud scandal
- When
- Initial conviction in 2019, appeal in 2021, fresh ruling ordered in July 2024
- Where
- Zurich, Switzerland
- Why
- To expose the cum-ex tax fraud scandal, one of Europe's largest financial crimes
Prosecution
Defense
Justification for Dropping the Case
Prosecution
The Zurich High Court dropped the case due to lengthy delays and alleged bias by the investigating prosecutor.
Defense
The Federal Supreme Court ruled that neither the delays nor the alleged bias justified halting proceedings.
- Case Involved
- Three men accused of breaching bank secrecy laws
- Initial Conviction
- 2019
- Appeal Verdict
- 2021
- High Court Decision
- Dropped the case due to delays and bias
- Federal Supreme Court Decision
- Ordered a fresh ruling
- Estimated Fraud Amount
- Up to €12 billion