1. K1's Kiener Is Arrested In German Fraud Case.
- Author
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CRAWFORD, DAVID, Gauthier-Villars, David, and Eckblad, Marshall
- Subjects
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ARREST , *FRAUD investigation , *EMBEZZLEMENT investigation , *BANKING industry , *BUSINESS losses - Abstract
The article reports on the arrest of Helmut Kiener, founder of investment firm K1 Group in Germany, in relation to a fraud investigation at the company, announced by prosecutors on October 29, 2009. Among the banks being investigated as victims of embezzlement are J.P. Morgan Chase & Co. and Barclays PLC. The estimated losses from the fraud could exceed 200 million U.S. dollars, according to prosecutors. The pretrial detention of Kiener was requested by the office of prosecutor Dietrich Geuder.
- Published
- 2009