As of: March 1, 2024, 8:44 a.m
By: Momir Takac
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The Volks- und Raiffeisenbank Bad Salzungen Schmalkalden is in a mess because of dubious transactions.
Now a spicy possession has become public.
Munich – It is not unusual for banks to have real estate in their portfolio.
But yes, if brothels are run there.
The Volks- und Raiffeisenbank Bad Salzungen Schmalkalden makes no secret of its ownership.
It fits the dubious image of the financial institution popularly known as the “Effenberg Bank”.
The Handelsblatt
revealed that the scandal bank has connections to the red light district
.
The disreputable properties are located on Flaßhofstrasse in Oberhausen in North Rhine-Westphalia.
The street forms the center of the city's red light district.
According to the land register, four houses there are owned by the cooperative bank from Thuringia.
There are also twelve other properties in the area, where there should be no brothel operations, writes
Handelsblatt
.
“Effenberg Bank” owns brothel properties in Oberhausen
The newspaper asked the Volks- und Raiffeisenbank Bad Salzungen Schmalkalden, the financial institution provided information: It was aware that brothels were operating in at least four houses.
However, nothing is known about the operators and “for reasons of privacy, we do not provide any information about the tenants,” said the bank.
The scandalous “Effenberg Bank” owns real estate in Oberhausen’s red light district.
© IMAGO / Revierfoto
The first property was purchased in December 2021, six more in 2022, and the last was purchased in August 2023, a bank spokesman told
Handelsblatt
.
He said nothing about the reason for the purchase, the seller, the price or the bank's plans in the red light district.
Volks- und Raiffeisenbank Bad Salzungen Schmalkalden is accused of dubious real estate and loan transactions
The revelation comes at an inopportune time.
Because the Volks- und Raiffeisenbank is deep in a mess.
In September 2023, mail came from the Federal Financial Supervisory Authority (Bafin) and the Federal Association of Volks- und Raiffeisenbanken.
In it, they accuse the institute of risky and dubious transactions with real estate and loans over the years, and they attest to numerous mistakes by the previous management.
Shortly afterwards, CEO Stefan Siebert, another board member and the supervisory board resigned.
The bank now apparently has to give an account of incoming and outgoing money on a daily basis.
Particular attention is paid to the final report for 2022, which is still not available.
Scandal bank has apparently terminated Stefan Effenberg
Lawyer Edgar Steinle, who advises the bank's supervisory board, told the Reuters news agency in November 2023 that, according to preliminary data, the bank made a loss of around five million euros in 2022.
However, Der
Spiegel
expects a loss in the three-digit million range due to write-offs on dubious real estate and loan transactions.
The scandal bank probably needs to be saved.
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The Volks- und Raiffeisenbank Bad Salzungen Schmalkalden is also called “Effenberg Bank” because it employed ex-professional footballer Stefan Effenberg for years.
According to Handelsblatt
, he has since
been fired, something Effenberg is apparently resisting.
(mt)