Sunday, February 17, 2008

German Postal Chief Resigns

UK's Independent reports, Deutsche Post's chief executive, Klaus Zumwinkel (shown here) has been forced to resign amid a "potentially devastating tax evasion scandal in which hundreds of wealthy Germans were suspected of illegally transferring up to 4 billion Euros into secret bank accounts in Leichtenstein."

Reporter Tony Paterson, writes, "Mr Zumwinkel, 64, who had led the partially state-run corporation for 18 years, was obliged to step down after state prosecutors announced that they suspected him of dodging some 1 million Euros in taxes over 20 years."

The German government, which owns 31% of Deutsche Post, said in a statement that it "saluted" Mr Zumwinkel's decision to quit adding, unusually, that it believed that he himself considered the tax fraud allegations to be true.

For more on this story, click here.
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posted by Don Schilling at 12:01 AM