BONN, Dec 4 (Reuters) - A sham trading scheme to make double tax reclaims which Germany estimates cost it more than 5 billion euros in total was illegal, a criminal court in the German city of Bonn said in a first statement on an ongoing trial on Wednesday.
The landmark trial against two British bankers is the first criminal case brought against those involved in 'cum-ex' trading, a practice described by German finance minister Olaf Scholz as a "scandal".