Thursday July 16, 2020

Husband of model Salpa embroiled in German share-trading scandal

Total losses from the Cum-Ex trade across Europe have been estimated at €55 billion; Joe Penna was a key figure in the Deutsche Bank unit financing the controversial transactions

Barry J Whyte

Chief Feature Writer

23rd June, 2019
Irish model Georgia Salpa with her husband Joe Penna Picture: Xposure

Joe Penna, the husband of Irish model Georgia Salpa, has been caught up in a share-trading scandal that may have cost German taxpayers billions of euro.

Penna, who formerly worked for Deutsche Bank, was one of the key figures involved in a unit of the bank involved in providing finance for customers for a trade known as the Cum-Ex trade, which allowed multiple people to claim tax refunds on a dividend tax that was paid...

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