Chancellor Olaf Scholz is set to undergo questioning for the third time regarding the Hamburg Cum-Ex investigation, linked to a tax scandal involving the private bank MM Warburg. Scholz has denied wrongdoing despite past memory lapses. Meanwhile, the inquiry committee faces internal turmoil, marked by conflicts and a delay in producing an interim report due to accusations of obstruction. As elections approach in Hamburg, the pressure intensifies to finalize findings related to the scandal and Scholz’s involvement.
Chancellor Scholz Faces Third Inquiry in Cum-Ex Investigation
As Chancellor Olaf Scholz prepares to face questioning for the third time this Friday, the focus returns to the Hamburg Cum-Ex inquiry committee. This pivotal moment in the investigation comes after over three years of scrutiny surrounding the alleged influence of politicians, including Scholz, on the private bank MM Warburg. The bank has been embroiled in a tax scandal since 2016, with accusations of involvement in a scheme that allowed bankers and stock traders to claim tax refunds for taxes that were never paid, resulting in over 90 million euros in stolen tax money.
Scholz has previously denied any wrongdoing during his earlier testimonies, citing ‘memory gaps’ on numerous inquiries. Despite some suggestions of a close relationship between political figures and private banking interests, no concrete evidence of political influence has been established. As the Chancellor prepares for this latest questioning, all eyes will be on whether he can recall significant details, particularly concerning the former state-owned HSH Nordbank, which faced scrutiny during his leadership.
Behind the Scenes: Turmoil Within the Inquiry Committee
While the inquiry itself is fraught with tension, recent investigations reveal that the Parliamentary Inquiry Committee (PUA) has faced its own internal chaos. According to sources, including internal emails and insider testimonies, conflicts within the working group have hindered progress. A troubling email sent by a research assistant in March 2023 sparked significant discord, alleging that the leadership was obstructing the process of creating an interim report.
Disputes escalated as various members expressed frustration. The assistant, who was appointed by the Greens, claimed a lack of communication from the head of the working group, SPD member Steffen Jänicke. Reports indicate that the environment became increasingly hostile, with accusations of intimidation against critics. The chaos has delayed the completion of the interim report, which was originally due in spring 2023, resulting in a significant backlog of necessary investigations.
As the inquiry continues, with Jänicke’s unexpected resignation in late 2023, the pressure mounts on the working group to deliver conclusive findings. The upcoming questioning of Chancellor Scholz may provide crucial insights into the tumultuous events surrounding HSH Nordbank and the Cum-Ex scandal, especially with elections looming in Hamburg come March. The inquiry committee is racing against time to finalize its report before then.