Adler Group: Spicy details after KPMG special test

Dusseldorf, Berlin When the head of the board of directors of the real estate company Adler Group, Stefan Kirsten, presented the results of the KPMG special examination on Friday, he sounded like a chief physician after the visit. “The Adler Group is ailing but vital,” he said. There is now a diagnosis that could be followed by “therapeutic measures”.

In a special investigation, the auditing company KPMG was able to refute some of the central allegations made by the British short seller Fraser Perring against the real estate investor – but not some.

The auditors had spared no effort in six months. They evaluated 678 gigabytes of data and 3.9 million emails. The forensics alone cost four million euros. And yet: KPMG did not want to commit itself to an overall assessment and only makes statements on individual allegations in the report.