Deutsche, Barclays Helped Funds Dodge Taxes, Panel Says

Law360, Washington (July 21, 2014, 5:11 PM ET) -- The U.S. Senate Permanent Subcommittee on Investigations revealed on Monday that Barclays Bank PLC and Deutsche Bank AG sold complex, structured financial products to hedge funds for over a decade that allowed the groups to evade federal leverage limits and billions in capital gains taxes.

From 1998 until 2013, Barclays and Deutsche Bank sold 199 so-called basket options that provided 13 hedge funds with proprietary trading accounts in the banks' names to facilitate more than $100 billion in short-term trades, many of which lasted just minutes...
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