As indicated in earlier reports, Ulf Johannemann, former global head of tax at Freshfields Bruckhaus Deringer, has conceded to the Regional Court of Frankfurt am Main that he “totally failed” as a lawyer. Johannemann, a senior partner at Freshfields at the time of his arrest in 2019, was implicated in the extensive cum-ex tax scandal. The trial has been in session since September of this year. Freshfields and Johannemann parted ways in 2019.
The scandal and subsequent investigation had a significant impact on Freshfields. Establishments of the firm, one of the most prominent in Germany, underwent multiple raids over the years. The firm later managed to settle the dispute out-of-court with the prosecutors.
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