Season 1

(2025)
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Episodes 8

1 Episode 1

April 13, 2025

44m

In Frankfurt, tax lawyer Dr. Bernd Hausner and the young Sven Lebert set up a fund based on the double refund of capital gains tax: so-called Cum-Ex transactions.

2 Episode 2

April 13, 2025

44m

In Germany and Denmark, legislation is being drafted in parallel to prevent cum-ex transactions. However, in both countries, the banking lobby is succeeding in influencing the legislation.

3 Episode 3

April 13, 2025

45m

Hausner and Lebert realize that their business partner, Fred Allen, has been cheating on them for years; they can't report him. For the first time, Lebert considers a future without his mentor.

4 Episode 4

April 13, 2025

45m

Young tax official Anna Nowak refuses to reimburse Hausner and Lebert's funds worth millions. She informs public prosecutor Lena Birkwald, who takes over the case.

5 Episode 5

April 14, 2025

45m

Public Prosecutor Birkwald and her team are slowly becoming aware of the extent of the cum-ex transactions. She is pursuing a plan to conduct simultaneous searches in 16 countries.

6 Episode 6

April 14, 2025

45m

The worldwide searches were a complete success for Public Prosecutor Birkwald – much to the displeasure of Hausner and Lebert. Lebert also learned that he had been let down by her.

7 Episode 7

April 14, 2025

45m

With Lebert's help, investigative journalists Liholt from Copenhagen and Fromm from Hamburg deceive the Cum-Ex fraudster Akram and get a picture of the shocking extent of the scandal.

8 Episode 8

April 14, 2025

44m

Lena Birkwald succeeds in making the extent of tax fraud clear to the Finance Minister of North Rhine-Westphalia. But Birkwald also wants to get to grips with the institutions themselves: the banks.

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