The Danish state has lost more than 12.7 billion crowns in total The charges against three US and three British citizens are connected to the so-called “cum-ex” trading schemes COPENHAGEN: Denmark’s state prosecutor said on Tuesday it had charged six people from the United States and Britain with defrauding Danish tax authorities of more than 1.1 billion crowns ($176 million) in a sham trading scheme. The charges against three US and three British citizens are connected to the so-called “cum-ex” trading schemes, in which the Danish state has lost more than 12.7 billion crowns in total. In January, Denmark charged two UK citizens, bringing the total number of people charged to eight They are suspected of running a scheme that involved submitting applications to the Danish Treasury on behalf of investors and companies from around the world to receive dividend tax refunds, the prosecutor said The six people were charged with running the scheme via Germany’s North Channel Bank in 2014 and 2015, the prosecutor said. The cum-ex trading scheme is also being investigated by authorities in Germany, Belgium and Britain. Last year, two Britons were convicted in Germany’s biggest fraud trial in at least 75 years. The name “cum-ex” is Latin for “with-without,” illustrating the apparent vanishing of dividend payments.