The scam is often the same: gain trust through local presence, home visits, and the promise of secure returns. But behind the facade, there are quite often risks that threaten livelihoods. In the current BR24 report "Ripped off by a Financial Advisor?" from the series The Story / Controversy Our firm is providing the legal assessment for a particularly serious case from the Augsburg region.
Legal assessment by Dr. Stephan Greger, Lawyer and Specialist Lawyer for Banking and Capital Market Law In the interview, Dr. Stephan Greger sheds light on three key legal problem areas that many affected individuals are confronted with:
- Unauthorised deposit-taking business Dr. Greger explains in the post that accepting investor funds (often disguised as private loans) without authorisation from the banking supervisory authority (BaFin) is a breach of the German Banking Act (Kreditwesengesetz - KWG).
- Suspected pyramid schemes: If interest is paid not from genuine profits but from the funds of new investors, this strongly suggests a so-called Ponzi or pyramid scheme – a classic warning sign of investment fraud.
- Distressed property The article also shows the fate of investors who were sold substandard attics as high-quality apartments. We support those affected in examining their legal claims against intermediaries and financing banks.
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Furthermore, there is an online article: https://www.br.de/nachrichten/bayern/vom-finanzberater-abgezockt-vorwuerfe-gegen-augsburger-firma,VI7mmL1
Have you yourself invested in similar models? If your interest payments are missed, a repayment is refused, or you suspect you've acquired an overpriced property, swift action is crucial. As specialist lawyers for banking and capital market law, we are here to support you with our experience to safeguard your invested capital in the best possible way.
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