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August 6, 2013


Bayern Munich president charged with Tax Evasion

Bayern Munich president Uli Hoeness surprised Germany when he alerted tax authorities in January to a Swiss bank account he held. He was charged with tax evasion on Tuesday after several months of investigations.

“A charge has been lifted against Ulrich H. for tax evasion,” Munich regional court spokeswoman Andrea Titz told Reuters Television.

“The defendant has now four weeks’ time to respond to this charge which was handed personally to him today,” she said.

Hoeness said the account had nothing to do with Bayern. He could face a jail sentence but is hoping for leniency after naming himself as a tax evader. Hoeness claims the account was personal, created for stock market trading.

Bayern, who enjoyed their greatest success by winning the treble amid the furor of the affair this year, have stuck by their president’s side, refusing his offer to step down. Hoeness has been with Bayern for more than 40 years.

The 61 year-old told reporters last week that he was optimistic the matter would have a “relatively good end.”

Offshore Accounts/International Tax Disputes