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Stashed funds Head of Bayern Munich to be tried for tax evasion

Bayern Munich's president is estimated to owe the German government €7 million in taxes


Uli Hoeness, president of the Bayern Munich football club, will face a court in March over tax evasion charges linked to a Swiss bank account.

German judges announced today that they took the decision last week to send the case to trial. Four sessions have been set for the proceedings, which will begin on March 10, 2014.

Earlier this year, Hoeness admitted to authorities he had a secret account at a Swiss bank. Prosecutors then filed a case against him in July.

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Hoeness’s club has backed him from the outset; in May, Bayern Munich’s supervisory board unanimously asked him to stay on in his role as president, despite his offer to temporarily stand down while he was being investigated.

It’s estimated the well-known football personality could owe up to €7 million (CHF8.6 million) in taxes, though the details of the indictment and the amount of money involved will not be revealed until the trial.

Hoeness is one of an increasing number of Germans owning up to the authorities over undeclared assets stashed in Swiss banks. Many see it as preferable to admit their actions, rather than waiting for investigators to catch up with them. and agencies

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