Helvag

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The Helvag AG was said to have caused the parent company of several investment companies between 1997 and 2001 at 700 investors, according to other sources even 1,400 investors from Germany, Luxembourg, Netherlands, Czech Republic, Poland and Hungary a loss of 20 million euros.

construction

Helvag AG had four subsidiaries:

  • Helvag AG Germany ( Schweinfurt ): Purchase, development, construction and leasing of outback steakhouse restaurants in Germany
  • Helvag Ag Luxembourg ( Luxembourg ): Purchase, development, construction and leasing of commercial land internationally
  • EWD AG Luxembourg (Luxembourg): Purchasing, service and other services in the restaurant business
  • AK GmbH ( Würzburg ): Operation of system gastronomy restaurants

Business activity

The company reportedly invested most of its assets in building an American system restaurant chain in Germany. This should be done through its subsidiary AK Gaststättenbetriebs GmbH, which had franchise rights to set up and operate outback steakhouse restaurants in Germany, and through various real estate companies. The properties held by the real estate companies should be leased to regional operating companies.

Outback Steakhouse, Inc., through its 80% subsidiary Outback Steakhouse International, LP, gave permission for two franchise restaurants in December 1997 and a third restaurant in December 1999. Nevertheless, advertising brochures announced that they wanted to open 60 restaurants in Germany . The first steakhouse was opened in Spich in August 1999 , the second in Oberkassel in September 1999 . The third steak house was opened in the Mainfrankenpark in Dettelbach . In August 2000, Outback International announced that no further permits would be issued. In April 2001, the three permits that had already been granted were withdrawn because Helvag was no longer meeting its obligations. Since Helvag did not manage to sell the restaurants to a third party, they ceased operations in July 2001.

Investors were able to participate in HELVAG Immo AG with shares starting at € 1500. An interest rate of 12.6% was forecast on the deposit.

process

In October 2002 the trial began against a total of nine defendants before the Würzburg Regional Court . First, the Helvag managing directors and two other people were charged.

One of the accused was sentenced to 5 years and 11 months imprisonment after a confession. Another defendant was sentenced to 4 years and 5 months in prison for community fraud.

Individual evidence

  1. ^ Rainer Stumpf: Fled to Ibiza with steak house money . In: Main-Post from December 20, 2006.
  2. ^ Gisela Schmidt: Helvag Fraud: Defendants want to confess . In: Mainpost of October 29, 2002.
  3. ↑ Four years imprisonment for millions of fraudsters. In: Süddeutsche Zeitung of October 23, 2003.
  4. ↑ Schematic representation of the group structure ( Memento from August 15, 2001 in the Internet Archive )
  5. ↑ FORM 8-K
  6. ↑ Gisela Schmidt: What role did Gerd E. have? , in: MainPost of July 28, 2003
  7. ^ Helvag Group ( Memento from August 15, 2001 in the Internet Archive )
  8. ↑ FORM 8-K
  9. ↑ HELVAG IMMO AG ( Memento from August 14, 2001 in the Internet Archive )
  10. ^ Gisela Schmidt: Helvag Fraud: Defendants Want to Confess, in: MainPost of October 29, 2002
  11. ↑ Gisela Schmidt: Confession in the Helvag Trial , in: MainPost from June 24, 2003
  12. ↑ Gisela Schmidt: The last Helvag trial is over , in: MainPost from October 23, 2003