Die Affäre Cum-Ex (Season 1)

The biggest tax heist in European history

The cum-ex scandal has caused 146 billion euros in losses in several countries. Inspired by true events, two women from Germany and Denmark are trying to put an end to it.

Episode 1 (Episode 1)
Air date: 2025-04-13
Runtime: 44 min
Overview: In Frankfurt, tax lawyer Dr. Bernd Hausner and the young Sven Lebert set up a fund based on the double refund of capital gains tax: so-called Cum-Ex transactions.
Episode 2 (Episode 2)
Air date: 2025-04-13
Runtime: 44 min
Overview: In Germany and Denmark, legislation is being drafted in parallel to prevent cum-ex transactions. However, in both countries, the banking lobby is succeeding in influencing the legislation.
Episode 3 (Episode 3)
Air date: 2025-04-13
Runtime: 45 min
Overview: Hausner and Lebert realize that their business partner, Fred Allen, has been cheating on them for years; they can't report him. For the first time, Lebert considers a future without his mentor.
Episode 4 (Episode 4)
Air date: 2025-04-13
Runtime: 45 min
Overview: Young tax official Anna Nowak refuses to reimburse Hausner and Lebert's funds worth millions. She informs public prosecutor Lena Birkwald, who takes over the case.
Episode 5 (Episode 5)
Air date: 2025-04-14
Runtime: 45 min
Overview: Public Prosecutor Birkwald and her team are slowly becoming aware of the extent of the cum-ex transactions. She is pursuing a plan to conduct simultaneous searches in 16 countries.
Episode 6 (Episode 6)
Air date: 2025-04-14
Runtime: 45 min
Overview: The worldwide searches were a complete success for Public Prosecutor Birkwald – much to the displeasure of Hausner and Lebert. Lebert also learned that he had been let down by her.
Episode 7 (Episode 7)
Air date: 2025-04-14
Runtime: 45 min
Overview: With Lebert's help, investigative journalists Liholt from Copenhagen and Fromm from Hamburg deceive the Cum-Ex fraudster Akram and get a picture of the shocking extent of the scandal.
Episode 8 (Episode 8)
Air date: 2025-04-14
Runtime: 44 min
Overview: Lena Birkwald succeeds in making the extent of tax fraud clear to the Finance Minister of North Rhine-Westphalia. But Birkwald also wants to get to grips with the institutions themselves: the banks.