View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
February 24, 2009

Times: Liechtenstein prince under investigation

By Spear's

A prince of the House of Liechtenstein, one of the world’s richest royal families, is being investigated for tax evasion in Germany.

From the Times:

A prince of the House of Liechtenstein, one of the world’s richest royal families, is being investigated for tax evasion in Germany.

Prince Max von und zu Liechtenstein, chief executive of LGT, the principality’s largest bank, and son of the ruler, the Prince of Liechtenstein, Hans-Adam II, has been accused of withholding millions in taxes.

Based in Munich, Prince Max is the most prominent figure affected by one of the greatest tax evasion scandals of recent times after one of his former employees sold confidential bank data to the German equivalent of MI6.

It prompted an investigation into more than 900 super-rich Germans suspected of withholding €200 million (£176 million) in taxes. Klaus Zumwinkel, the former German Post chief executive and Morgan Stanley director, received a two-year suspended prison sentence and was fined €1 million for evading taxation after authorities found details of his financial dealings with LGT in the leaked data.

Prince Max, 39, said: “I have always fulfilled my tax duties in Germany to the best of my knowledge. If, contrary to my conviction, it turns out that I owe taxes to the German State, I will meet my obligations promptly.”

To read the full article, visit timesonline.co.uk
 

Content from our partners
Abu Dhabi: How the 'capital of capital' became a magnet for UHNWs
Abu Dhabi Finance Week in the 'Capital of Capital'
Experience Seekers: The Future of Luxury Travel

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network