Die Affäre Cum-Ex (2025)

Trader's Film Library #46 · Drama series. How tax refunds were fraudulently claimed by trading shares around the dividend date.

Original title: Die Affäre Cum-Ex · Type: series · Created by: various · Usefulness for traders: ★★★☆☆

What it's about

A series about the cum-ex scandal: for years a group of bankers, lawyers and advisers traded shares around the dividend date so as to obtain multiple refunds of tax paid only once.

What it has to do with markets

The cum-ex affair is one of the biggest tax scandals in Europe, with losses in the billions for public budgets, Germany's among them. It shows how complex stock-market transactions can be used for fraud.

Lessons for traders

• a complex transaction isn't legal just because it's complicated
• a “risk-free” profit usually has a hidden cost or is illegal
• unusual flows happen around the dividend date

What to watch out for

A new series that's hard to find in Poland.

Discussion

The discussion takes place in Hetman Capital Club (in Polish). Join the discussion in the Club →

Navigation

← #45 Gold · Film Library index · #47 American Greed →

The description outlines the plot without revealing the ending where possible (true stories have a known outcome). Educational content, not investment advice.