GPG submits the application for insolvency: New cases of suspected investment fraud

In Germany, a new case of suspicion for the System after the insolvency of the payment service provider Wirecard and the Container lessor's P&R was. The real e

GPG submits the application for insolvency: New cases of suspected investment fraud

In Germany, a new case of suspicion for the System after the insolvency of the payment service provider Wirecard and the Container lessor's P&R was. The real estate company German Property Group (GPG) has made a few weeks ago to file for insolvency at the local court of Bremen. The company, which specializes in the acquisition of listed real estate, its renovation, followed by a sale, is collected through various project companies for investors ' money in the amount of up to EUR 1 billion and also a debt of 500 million euros have built up, reported in the legal magazine "Juve" citing persons familiar with the issue.

Markus Frühauf

editor in the economy.

F. A. Z. Twitter

The GPG, formerly known as Dolphin Capital, includes more than 100 project companies, including the Dolphin Capital 80. Projekt GmbH & co. KG. Alone in this society is to be flowed according to the law firm Mattil&Kollegen investors ' funds in a three-digit Million-Euro amount. Open was what had happened to it. The firm, according to the leaders of the GPG were to demand now led to the admission that an acquisition of land had been made, with the investors ' money.

the insolvency administrator goerg refers to critical press reports in the year 2019, according to a number of development area projects of the GPG is far behind schedule. The agent should have provided Görg, according to, apparently, to a large extent private, non-institutional investors, who were mainly from the UK, Ireland and Asia.

Updated Date: 12 August 2020, 05:20

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