How a Newry maths genius helped unravel an international tax fraud scheme

Martin Shields went from key player in cum-ex trading to German prosecutors’ star witness

In 30 interviews over the course of nearly 12-months, Martin  Shields painted a detailed picture for those investigating the scheme, taking them step-by-step through how it worked and who was involved. Photograph: iStock

In 30 interviews over the course of nearly 12-months, Martin Shields painted a detailed picture for those investigating the scheme, taking them step-by-step through how it worked and who was involved. Photograph: iStock

At several points in the career of 43-year-old Martin Shields, the Newry-born man felt undervalued and underpaid by the financial and banking sector.

As a result, a series of decisions led Shields to become the brains behind one company in a network involved in a massive financial trading scheme, dubbed cum-ex, which siphoned billions from tax authorities across Europe.

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