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German bank faces fine of more than $16 million

Posted On: Sep. 24, 2019 6:36 AM CST


A Danish court has fined Germany's North Channel Bank GmbH & Co. KG 110 million Danish crowns ($16.2 million) for its involvement in a tax-stripping scandal, The Chronicle Herald reports citing Reuters. Denmark's tax authorities lost around $2 billion in the scandal that hit several countries across Europe including Germany, Belgium and Austria.

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