Financial Times FT.com

Zumwinkel quits amid tax-dodge probe

By Gerrit Wiesmann and Richard Milne in Frankfurt and Hugh Williamson in Berlin

Published: February 15 2008 11:22 | Last updated: February 15 2008 22:54

Germany’s tax-evasion scandal claimed its first victim as Klaus Zumwinkel, a veteran of the nation’s corporate elite, quit on Friday as chief executive of Deutsche Post and chairman of Deutsche Telekom.

However, people close to the investigation said state prosecutors had about 750 individuals in their sights that they suspect of holding undeclared trusts in Liechtenstein, robbing the German exchequer of hundreds of millions of euros.

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