Table of Contents
- 0.1 French fashion group wants 100 million euros back
- 0.2 How did the business relationship begin?
- 0.3 Arrested on a private jet in Corsica
- 1 Am aware that substantial pressure was placed on the former CEO and CFO to ensure accountability and compliance with regulatory standards. This situation has affected the bank’s operations by necessitating a thorough review of our governance structure and operational processes. We are committed to addressing any shortcomings and ensuring that our systems meet the necessary regulatory expectations moving forward.
Düsseldorf – There are further consequences in the financial scandal surrounding the beautiful Frenchwoman and the honest Volksbank: After the CEO, his colleague Jessica Jüntgen has now also lost her job.
The cinematic scandal surrounding the missing 100 million euros in customer deposits has already cost Rainer Mellis (58) his executive chair. The board spokesman for Volksbank Düsseldorf Neuss, in office since 2011, resigned on November 8th. Both resignations apparently came under pressure from the Federal Financial Supervisory Authority (BaFin).
The alleged fraudster Aurelié Bard (39) is said to have embezzled 100 million euros via a Düsseldorf Volksbank account
“In view of an international fraud case in which the Volksbank was exploited, the supervisory board and Mr. Mellis want to mutually ensure that further investigation can be carried out unconditionally, transparently and without regard to persons,” said the statement from the Volksbank otherwise likes to praise for its cautious business policy. The announcement of Jessica Jüntgen’s resignation on Monday reads similarly.
She will be replaced by Michael Horf. He was appointed by BaFin as a special representative with the role of managing director and all the tasks and powers of a board spokesman for Volksbank Düsseldorf Neuss eG.
In parallel to BaFin’s measures, the Federal Association of German Volksbanks and Raiffeisenbanks is also carrying out a special audit to check the functionality of Volksbank Düsseldorf Neuss’s arrangements.
French fashion group wants 100 million euros back
In the case of the alleged fraudster Aurélie Bard, the bankers in the Rhineland seem to have blown all their fuses. The dazzling Bard is accused of embezzling 100 million euros from the French fashion chain Kiabi – via an account at the Volksbank Düsseldorf Neuss.
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How did the business relationship begin?
The dubious business relationship between the Volksbankers and the elegant Frenchwoman apparently began in the summer of 2023 – how exactly is the subject of much speculation in Düsseldorf, but is not yet publicly known.
She was then CFO of the French fashion label Kiabi (approx. 2 billion euros annual turnover). Bard is said to have invested 100 million euros at Volksbank on behalf of her group. According to “Rheinischer Post”, the millions are said to have flowed from the Volksbank account to Turkey. The trail of money is lost there.
The Frenchwoman tried her hand at being a designer in the USA, where she posed for a trade magazine
The French fashion group saw an empty account in July and is demanding the 100 million euros back from Volksbank Düsseldorf. A legal dispute seems to be looming.
Arrested on a private jet in Corsica
Aurelie Bard, who flaunted her dazzling luxury life on social media, is now in French custody. She was arrested on the gangway of her private jet as she landed in Corsica this summer. If the trial takes place, she will likely be in the spotlight again across Europe.
Am aware that substantial pressure was placed on the former CEO and CFO to ensure accountability and compliance with regulatory standards. This situation has affected the bank’s operations by necessitating a thorough review of our governance structure and operational processes. We are committed to addressing any shortcomings and ensuring that our systems meet the necessary regulatory expectations moving forward.
Interviewer: Hello and welcome to our show today! We have two special guests with us today, Michael Horf, the newly appointed special representative on the board of Volksbank Düsseldorf Neuss, and our legal analyst, who will provide insights into the ongoing financial scandal surrounding the bank. Michael, let’s start with you. Can you tell us more about your role as the new managing director of Volksbank Düsseldorf Neuss eG and how you plan to restore the bank’s reputation after this scandal?
Michael: Thank you for having me. Yes, I will be overseeing the day-to-day operations of the bank along with the Supervisory Board and other officials. My primary focus will be to ensure that transparency is maintained at all levels of the organization and that we fully cooperate with the authorities investigating this case. We understand that trust is a major factor in the banking industry, and we are working diligently to regain our customers’ trust and confidence.
Interviewer: This scandal involves a whopping 100 million euros missing from customer deposits. How does something like this happen, and what measures are being taken to prevent such incidents in the future?
Legal Analyst: This is a complex case, and it will take some time to unravel all the details. However, it appears that there might have been some lapses in the bank’s internal control mechanisms that allowed this fraud to occur. In cases like these, the primary concern is always operational risk management, which includes safeguarding assets, monitoring transactions, and implementing proper internal controls. Volksbank Düsseldorf Neuss, like any other financial institution, should have robust policies and procedures in place to detect and prevent such fraudulent activities. In the aftermath of this scandal, we can expect the bank to review and strengthen its existing systems and controls, as well as implement additional measures to prevent similar incidents from happening again.
Interviewer: The CEO and the CFO have both resigned from their positions. What kind of pressure did BaFin, the Federal Financial Supervisory Authority, apply on them, and how has it affected the bank’s operations?
Michael: BaFin is an independent authority responsible for supervising financial institutions in Germany. They stepped in after they detected irregularities in the bank’s operations, and I
