Investigators Conduct Raids in €100 Million Fraud Case Involving Volksbank Düsseldorf Neuss

Authorities searched bank offices and private residences as part of an investigation into a major financial fraud targeting French fashion retailer Kiabi.

• German authorities raided two Volksbank Düsseldorf Neuss locations and private residences of suspects in connection with a €100 million fraud case.
• The fraud allegedly involved transferring funds from Kiabi, a French fashion retailer, to accounts at the German bank before being moved to Turkey.
• A former financial executive of Kiabi was arrested in September after landing on Corsica and remains in custody under suspicion of embezzlement.
• Volksbank Düsseldorf Neuss emphasized that the investigation does not target the bank itself but concerns fraudulent activities linked to international transactions.
• The bank has taken financial precautions to mitigate risks, including setting aside reserves and securing guarantees, ensuring its continued operations remain unaffected.

3 Articles

Die Zeit RP ONLINE RP ONLINE