Trial begins: Millions in fraud at Sparkasse Solingen

A fraudulent trio is said to have defrauded Sparkasse Solingen of several million euros using manipulated loan documents. The trial against two defendants now began at the Wuppertal regional court. Both are accused of commercial and gang fraud. A third suspect is said to be on the run with six million euros.

According to the indictment, the creditworthiness of property buyers was embellished with manipulated proof of income and equity. In addition, the value of the real estate was set too high. In this way, the trio fraudulently obtained approval for real estate loans worth millions.

Loan volume 13.7 million euros

The financing volume is said to have totaled 13.7 million euros. A later assessment showed that more than half of the loan volume was not secured by the real estate.

A 54-year-old defendant from Solingen is said to have prepared the loan documents. A 45-year-old real estate consultant worked for the savings bank at the time and is said to have obtained approval for the loans from his superiors. The third, fugitive participant is said to have been a real estate agent. The crimes date back to 2018 to 2019.

While the two defendants are said to have received six-figure commissions, the lion's share went to the real estate agent, who had been in hiding for years. Immediately after the charges were read out, the parties withdrew to a non-public legal discussion. The savings bank could not initially be reached for comment.