Scandal at Kathrein Bank: Disabled millions due to employee malversations!

Scandal at Kathrein Bank: Disabled millions due to employee malversations!

A dramatic lawsuit shakes the Kathrein private bank: the heirs of a customer ask the bank to pay a total of 50 million euros. The reason? Due to one alleged long-term fraud affair of a bank employee, customer funds have disappeared in the millions, as "https://www.oe24.at/weltchronik/geld-kunde-klagen-bank-auf-50-millions/623693908"> oe24.at reported. Although the bank has already paid 35.4 million euros in compensation, the plaintiffs argue that this does not cover the lost interest or possible value growth. The allegations against the employee, which is said to have been active since the late 1990s, include serious malversations that were only disclosed after the customer's death in 2023

business thriller and direct consequences

According to the lawyers of the lawsuit, Aigner Lehner Supervisor, the bank would have failed over the years to carry out internal control mechanisms. The employee concerned is said to have acted alone for years and have maintained a luxurious lifestyle with expensive real estate and travel. The investigation by the Economic and Corruption Prosecutor's Office (WKStA) has already progressed, but not yet completed. The bank itself has submitted the advertisement against the employee, while the responsible authorities are already investigating him, as well as Fondsprofessionell.at reported.

The Kathrein private bank admits the irregularities, but refers to their sufficient provision in the event that the maximum claims of the plaintiffs are recognized. Nevertheless, the escalation of the case could have stressful consequences for the bank, which was able to show a surplus of 1.4 million euros in the 2023 financial year, but could be endangered by these derived financial tensions.