At Deutsche Lichtmiete, things are happening in quick succession. First, on February 22, 2022, the company surprisingly withdrew its own applications to open insolvency proceedings and a day later it became known that the Oldenburg public prosecutor’s office had expanded their investigations and are now also investigating suspected money laundering.
In this context, the Oldenburg public prosecutor’s office searched the premises of OAB Osnabrücker Anlagen- und Beteiligungs-Aktiengesellschaft on February 23, 2022. The company confirmed the searches in an ad hoc release dated February 23, 2022. Accordingly, the investigators are apparently investigating the suspicion of money laundering. According to the ad hoc announcement, the starting point for the investigations is that the last two capital increases by OAB led to large payments by individual shareholders. According to OAB AG, these shareholders could be the four persons responsible for Deutsche Lichtmiete, against whom the public prosecutor’s office is already investigating suspected fraud.
The Oldenburg public prosecutor had the business premises of Deutsche Lichtmiete AG searched at the end of 2021. The investigators are investigating the suspicion that the business model was not viable and that the income was not sufficient to finance due and future investor claims. Nevertheless, the company is said to have raised further investor money between 2018 and 2021 through the placement of corporate bonds. Various Deutsche Lichtmiete companies filed for insolvency shortly thereafter.
Then, on February 22, 2022, the surprising turning point. Deutsche Lichtmiete withdrew its self-filed bankruptcy filings. This is possible because the preliminary insolvency proceedings have only been opened so far. The district court of Oldenburg has meanwhile ended this for a number of companies.
“The insolvency applications can only be withdrawn if there is no longer any insolvency. However, it is unclear where the fresh money came from. It is just as uncertain whether there is a connection to the suspected money laundering. Of course, the presumption of innocence also applies here. But investors’ money is still on fire,” says attorney Dr. Ingo Gasser.
The crime story about Deutsche Lichtmiete continues and the public prosecutor’s office has expanded its investigations. The opening of insolvency proceedings is not yet off the table either. “Regardless of current developments, investors can have their legal claims checked to protect their money. For example, claims for damages may have arisen against the investment advisors and brokers if they have not properly informed about the risks of the investment,” says attorney Dr. Gasser.
More information: https://www.ingogasser.de/category/bank-und-kapitalmarktrecht/
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