Overview

• The Düsseldorf public prosecutor's office is investigating a major fraud case involving the misappropriation of €100 million from Kiabi, a French fashion company.
• The funds were reportedly funneled through an account at the Volksbank Düsseldorf Neuss, before being transferred to a Turkish bank account.
• A former financial executive of Kiabi was arrested in Corsica and is in custody as part of the ongoing investigation by French authorities.
• The Volksbank Düsseldorf Neuss has faced criticism for its handling of the transaction, with experts suggesting the bank should have exercised more caution.
• The bank has made financial provisions and obtained guarantees to mitigate potential losses, ensuring its operations remain unaffected.