German prosecutors search BlackRock's Munich offices, Reuters saysProsecutors searched the BlackRock's Munich offices on Tuesday as part of Germany's biggest post-war fraud probe, Reuters reports, citing a person with knowledge of the matter. The practice being examined, known as cum-ex, usually involved trading company shares rapidly around a syndicate of banks, investors, and hedge funds to create the impression of numerous owners, each of whom was entitled to a tax rebate, the report notes. Reference Link |