Bankhaus Wölbern & Co.

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  Sandtor Abwicklungsgesellschaft GmbH & Co. KG
Headquarters at Sandtorkai 54
Formerly the seat of the Wölbern bank
Country GermanyGermany Germany
Seat Hamburg
legal form AG & Co. KG
founding January 1, 1956
Business data 11/30/2015Template: Infobox credit institute / maintenance / data out of date
Total assets 71.1 million euros
insoles EUR 0.3 million
Customer credit 59.6 million euros
Employee 22nd
management
Board Heinz Arno Wascheck (processor)
Ulrich Wieczorek (processor)
Supervisory board Wolfgang Sprißler (Chairman)

Template: Infobox_Kreditinstitut / Maintenance / ID is missing

The Bank Wölbern & Co. (AG & Co. KG) was a financial institution with a banking license . The banking license was returned to the Federal Financial Supervisory Authority at the beginning of June 2016, and the company continues to exist as Sandtor Abwicklungsgesellschaft GmbH & Co. KG .

History until 2006

Bankhaus Wölbern & Co. was founded on January 1, 1956 as a limited partnership by the Hamburg businessman Ernst Wölbern († 1976) as a personally liable partner together with other limited partners . The bank saw itself as the successor to the EJ Meyer banking house founded in Berlin in 1816 .

In 1967 Ernst Wölbern and his son Claus Wölbern, both shareholders of the bank at the time, founded the Wölbern Hausbau Gesellschaft as straw men . With this Albert Vietor and other managers of the union's own construction and housing company Neue Heimat made high profits at the expense of their company. This new home affair with a total damage of over 100 million marks was only uncovered in 1982 and led to the permanent end of union housing.

From 1969 the bank passed into the possession of other banks. The Hamburger Sparkasse was initially involved (1969–1978). Personally liable partners in 1978 were Ove Franz , Albert Jäger and Claus Wölbern. Then the majority of the Wölbern-Bank belonged to the Dutch Slavenburg's Bank (1979–1985) or completely their buyer, the Dutch subsidiary of the French bank Crédit Lyonnais (1985–1995), then the South African bank Absa Bank (1995–2004) or theirs later majority owner, the British bank Barclays (2004-2006).

For many years, Wölbern-Bank has been primarily active as an issuer of closed-end investment funds , including many foreign real estate funds . The lending business offered u. a. Loan capital to purchase the in-house investment fund shares .

Acquisition by Heinrich Maria Schulte and Wölbern Invest AG

The investor Heinrich Maria Schulte (* 1953), who was Professor of Internal Medicine at the University of Kiel until 1993 and who successfully sold the biotech company Evotec he founded during the stock market boom in 1998, acquired the bank in 2006 and restructured it. From January 1, 2007, the following were managed separately:

  • the fund business ( Wölbern Invest AG )
  • the banking business ( Bankhaus Wölbern )

"I never wanted the bank," Schulte said later in the process. He was only interested in the fund business with a volume of 2.65 billion euros. This division provided over 90 percent of total sales.

In the form of commercial breach of trust, Heinrich Maria Schulte intentionally used around 147 million euros from 31 closed-end real estate funds in 327 cases from August 2011 to September 2013. He shifted around 50 million euros of this to private investments, thereby financing his lavish lifestyle. Around 35,000 investors were affected. Schulte was arrested in autumn 2013. As of May 2014, proceedings for embezzlement of investment funds ran before the Hamburg Regional Court . On April 20, 2015 Schulte was sentenced to eight and a half years in prison, the public prosecutor had requested a prison term of twelve years. Schulte's appeal against this judgment was rejected by the 5th Criminal Panel of the Federal Court of Justice on January 13, 2016 as obviously unfounded, and the judgment thus became final.

Bankhaus Wölbern from 2007

Logo of Bankhaus Wölbern & Co.

The bank, which has now been separated from the fund business, was affected by the financial crisis from 2007 onwards. In cooperation with the Federal Association of German Banks, it was initially taken over by the Hamburg-based private bank MM Warburg & Co on March 10, 2009 and later transferred to a special purpose vehicle of the Federal Association of German Banks. In the annual financial statements of November 30, 2014, it was announced that business operations will be discontinued by the end of 2016 at the latest. On December 12, 2014, the Hamburg District Court announced that the company had been dissolved. The liquidator is HFI Hansische Vermögensverwaltungs Aktiengesellschaft , Hamburg.

See also

Individual evidence

  1. ↑ a b Annual financial statements as of November 30, 2015 in the eBundesanzeiger
  2. ^ Federal Association of German Banks : Bankhaus Wölbern & Co has finally closed its doors. In: bankenverband.de. Retrieved July 12, 2016 .
  3. ↑ a b Well camouflaged in the thicket of companies - Neue Heimat: The dark businesses of Vietor and comrades . In: Der Spiegel . No. 32 , 1982, pp. 92-104 ( online ).
  4. ↑ Private banks are in demand. Hamburger Abendblatt , May 27, 1978, accessed on December 13, 2017 .
  5. ^ Gregory Lipinsky: Handelsblatt dated January 23, 2006, accessed on April 18, 2009
  6. ↑ a b c Medicus gone astray - Heinrich Maria Schulte, the doctor who wanted too much on April 27, 2015 on www.finanzen.net
  7. ↑ a b Christoph Rottwilm: Trial against ex-Wölbern boss Schulte , on May 19, 2014 on www.spiegel.de
  8. ↑ a b Embezzlement: Ex-Wölbern boss sentenced to eight and a half years in prison , on April 20, 2015 on www.spiegel.de
  9. ↑ judgment in the investment scandal , Manager Magazin, April 20, 2015
  10. ↑ Federal Court of Justice. In: juris.bundesgerichtshof.de. Retrieved January 22, 2016 .
  11. ↑ Daniela Stürmlinger, Kathrin Fichtel in Hamburger Abendblatt from April 18, 2009. URL http://www.abendblatt.de/daten/2009/04/18/1126441.html?prx=1 accessed on April 18, 2009
  12. ↑ Announcement of the Hamburg District Court  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , accessed September 13, 2015@1@ 2Template: Toter Link / www.handelsregister.de  
  13. ↑ The first case for the Bad Bank: Bankhaus Wölbern is wound up. In: www.handelsblatt.com. Retrieved June 1, 2016 .

Coordinates: 53 ° 33 ′ 13.7 ″  N , 10 ° 1 ′ 20.8 ″  E