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Prof. Christoph Spengel: “More efficient combating of cum-cum transactions”"

Prof. Spengel has short grey hair and is wearing a suit and tie. The castle can be seen in the background.
Credit: Rike Allendörfer

Almost 30 billion euros have been earmarked for public debt in the 2025 federal budget. Prof. Christoph Spengel estimates that the German state lost a similar amount, around 28.5 billion euros, between 2000 and 2020 due to cum-cum-share transactions. On March 19, 2025, he was the only expert invited to a public hearing in the legal committee of the NRW state parliament.

  • Click here for the written statement by Prof. Christoph Spengel
  • Click here for the hearing of the Legal Committee of the North Rhine-Westphalia State Parliament
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