Story perspectives
Tax Fraud Probe Hits Northern Data: Four Arrested
9/27/2025
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Story summary
- German investigators raided Northern Data AG in Frankfurt and Sweden amid a tax-fraud probe linked to a Swedish Bitcoin mining inquiry.
- Four arrests were made in a value-added tax (VAT) fraud case exceeding €100 million, authorities said.
- Northern Data's shares fell 12% to €16.48 after the news.
- A leadership change followed, with John Hoffman promoted to co-CEO.
