Judgment in the mammoth process against German Pellets founder Peter L. near!
Judgment in the mammoth process against German Pellets founder Peter L. near!
The mammoth process against Peter L., the founder of German Pellets, arrived at the Schwerin district court shortly before the judgment. This case, which extended for almost two years and included 43 days of negotiations, is one of the most spectacular in German company history. German Pellets, once the largest manufacturer of wood pellets in Europe, reported bankruptcy in 2016. This step caused immense losses for over 17,000 investors who have lost around 260 million euros. In this context, Peter L. is charged with bankruptcy, fraud, bankruptcy and tax evasion. The indictment accuses him of deliberately disguising the economic situation of the company, while he himself allegedly knew from investors that the financial situation was precarious.
It is particularly piquant that many investors bought stocks shortly before the bankruptcy registration and invested high amounts in the hope of a profitable future of the company. The bankruptcy took place after failed expansion plans, most recently German Pellets strived to acquire a coal -fired power plant in Belgium to secure sales. The court found that the company's insolvency was already available in November 2015, which also underlines the severity of the allegations.course of the process
The negotiations were shaped by numerous listening of witnesses and expert opinion. The public prosecutor's office pleaded for a total imprisonment of two years, which could be suspended, with Peter L. partially confessing and admitting that the losses of investors accepted. In the course of the procedure, the public prosecutor accepted November 15, 2015 as the time of the objective occurrence of bankruptcy. This resulted in 97 percent of the original allegations and the procedural damage amount was reduced from EUR 77.3 million to just 2.5 million euros.
The situation is still dramatic for the former investors. They are not only affected by economic loss, but many of them are also owners of pellet heating. The reorganization of the pellet plant in Wismarer Holzhafen, which has been operated by a new owner since 2016, is currently still employed by around 60 people. Despite these developments, the overall claims have grown to 427 million euros, and the bankruptcy proceedings are still not completed.
The consequences for those affected
The bankruptcy of German Pellets has had far -reaching effects on investors who were prompted by highly interest -loving pleasure certificates to finance the company. Many of the affected investors were largely empty. In this respect, the case of Peter L. is not only a legal, but also a social scandal that will only experience his full legal consequence. The judgment is therefore eagerly awaited.
In summary, the process of the bankruptcy and the plant fraud of the Wismar wood processor German Pellet is exemplary for the risks associated with investments in supposedly successful companies. For the former investors, only the hope of a fair legal decision and possibly a partial refund of their losses remains. Further information about the economic situation of companies in Germany can be found on Destatis.de .| Details | |
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