Düsseldorf Prosecutors Investigate €100 Million Fraud Linked to Kiabi

A sophisticated financial scam has left French fashion chain Kiabi missing €100 million, with funds traced through a German bank to Turkey.

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.