Dubious share transactions: Deka must repay half a billion euros

Deka, the investment company of the savings banks, presents itself as sustainable and committed to the common good. Yet, for years, it has also been conducting stock transactions at the expense of the German state. How can this be?

When people think of savings banks , they rarely think of anything bad. Local banks usually sponsor the football club, perhaps even the fire brigade festival, and quite a few local companies take out loans with them. So, when customers come into the branch for an appointment to discuss stocks and retirement planning with their advisor, no one would suspect that their money is ending up with a fund company that has been able to fleece the state of almost half a billion euros for years through "tax-optimized" stock transactions.