Due to the suspicion of false accounting, market manipulation and breach of trust, the real estate group’s premises are searched.
(Photo: imago images/Achille Abboud)
Dusseldorf The scandal surrounding the Luxembourg real estate group Adler Group is spreading. 175 investigators from the public prosecutor’s office in Frankfurt am Main and the Federal Criminal Police Office (BKA) have been searching 21 properties across Europe since Wednesday morning, including offices, apartments and a law firm. This was announced by the public prosecutor’s office in Frankfurt.
According to information from the Handelsblatt, this is about transactions by Adler Real Estate AG, which merged with its Luxembourg competitor Ado Properties and the project developer Consus to form the Adler Group at the beginning of 2020. The accusations are embezzlement, balance sheet falsification and market manipulation.
When asked, an Adler spokesman confirmed that around ten officers had been searching the premises of Adler Real Estate at the Berlin headquarters since 8 a.m. The company cooperates with the authorities. He also emphasized that among the accused there was no member of the board of directors of the parent company Adler Group SA.
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