Sunday, August 24, 2014

Michael Kemmer – Ex-BayernLB boss comes with 20,000 euros of which – Sü

Michael Kemmer – Ex-BayernLB boss comes with 20,000 euros of which – Sü

By Klaus Ott

defenders circles speak of “de facto acquittal”: The trial against the former directors of the most BayernLB to be set next week – for a small cash requirements from 5000 Euro.

The former director of Bayerische Landesbank comes largely unscathed after the billion-disaster at Hypo Alpe Adria thereof. The Munich District Court I pending criminal trial for misappropriation of bank assets to be set next week for most defendants against small payments for information the Süddeutsche Zeitung . For Michael Kemmer, former CEO of BayernLB, now CEO of the German Banking Association, 20,000 euros are provided.

The same rate is also planned at Theo Harnischmacher, former Vice Chief of the National Bank. Two other former board members, Ralph Schmidt and Stefan Ropers shall each pay 5000 euros. This was apparently discussed between defense counsel and the prosecutor so. In defense sources say that these are “de facto acquittals”. Then are only Kemmer’s predecessor as chief BayernLB, Werner Schmidt, and the then deputy chief Rudolf Hanisch in court. Against them are further allegations.

total losses of 3.7 billion euros

Schmidt and Hanisch to the purchase of the resident in Carinthia Hypo Alpe Adria the former, now deceased Governor Jörg Haider have bribed a football sponsorship in the millions, to get the nod. Schmidt and Hanisch deny this. Munich prosecutors had charged all defendants serious breaches of duty on the acquisition of Hypo Alpe Adria by BayernLB in 2007. Kemmer and his colleagues had deliberately bought a “pig in a poke”, the motto, “Close your eyes and” embezzled, and so assets to Landesbank.

The aim of the action whether it was at all costs a to create an international financial institution. BayernLB had paid 1.7 billion euros for the Hypo Alpe Adria, which two years later was facing bankruptcy and was rescued by the Austrian government. Overall, the country’s bank lost 3.7 billion euros. Of these, the prosecution rested the old BayernLB Board at 625 million euros. This amount have Landesbank paid too much due to massive errors and omissions in the purchase of Hypo Alpe Adria.

In addition, the Board has the oversight body of BayernLB, occupied with leading CSU politicians Board deceived. Of these allegations remained in the process that had started in late January 2014, virtually nothing left. Many witnesses, including former Finance Minister of Bavaria Kurt Faltlhauser and Erwin Huber, relieved the defendants.

The payments now laid down is not punishment, but to money constraints. In this way, the proceedings with the consent of the tribunal may be set according to Section 153a of the Code of Criminal Procedure, if the “seriousness of the offense does not preclude”. The consent of the court is considered safe. From circles of the parties it is, Kemmer remain chief executive and chief lobbyist of the Banking Association.


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