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Lars Windhorst is being investigated by prosecutors


Opponents in Berlin have launched an investigation into the cases of Lars Windhorst, an economist whose relationships were at the heart of the crisis at H2O Asset Management.

“The Berlin Judiciary is investigating [Windhorst] on allegations of bankruptcy against a German bank, “critics told the Financial Times, adding that he had done so after Treasury chief BaFin complained.

BaFin declined to comment. Those familiar with the matter say that regulators are concerned about what happens to the Evergreen Funding vehicle, which is Windhorst.

FT revealed in 2019 that H2O, a company with a net worth of € 17bn, poured money into customers in non-Windhorst-affiliated bags. French officials last year formed a financial list in H2O due to “economic uncertainty” in the companies it owns.

Evergreen was established as part of a plan made by Windhorst buying hard-to-sell H2O products. In June 2020, Evergreen paid a fine of € 1.25bn, attracting interest and interest rates of 12.5% ​​per annum.

However, Luxembourg’s annual car accounts for 2020 show that it paid € 272m to Windhorst and only 263.5m in bondage.

People familiar with the matter told FT that BaFin doubts Evergreen could engage in banking such as repayment and lending without the necessary permits.

BaFin later hacked Evergreen’s bank account in Germany and notified prosecutors in Berlin, where Windorst’s Tennor Holding has offices. Unlicensed banking transactions are a criminal offense under German law and can be punishable by up to five years in prison.

“We are confident that there is no basis for this claim because there is no Evergreen Funding or any of its affiliated companies that conduct banking transactions,” a Windhorst spokesman said, adding that all Evergreen bonds have paid in full plus interest.

He also said that the loan mentioned in the books, which was first given to Tennor Holding and then transferred to Windhorst, was used to buy the loan.

Born in a small family in the small town of Rahden in 1976, Windhorst shot fame as a young businessman and was lauded as wunder generously by former German chancellor Helmut Kohl. But at the age of 34, Windhorst had experienced the collapse of two companies, bankruptcy and imprisonment.

Convicted in 2010 for “violation of the faith”, the German economist moved to London and began making lists. difficult economic events including the security of unnecessary debt. Most of these sections brought Cases, combining from billionaire Len Blavatnik with a commercial vehicle connected to former minister of energy in Russia.

Despite legal problems, Windhorst continued to face threats, in particular buy price at the German club Hertha Berlin in 2019. Recently entered Twitter for the sake of criticism, knowing that “there are always things said about my company and me that I can’t and I will never leave dissent”.

H2O retained more than € 1bn of hard-to-sell products linked to Windhorst and companies affiliated to Tennor. After a French regulator pressured H2O to temporarily suspend its funds last fall, the treasurer kept hardened securities into “side pockets” with large sums of money, which the sellers could not redeem.

Furore prompted French bank Natixis to throw away its many trees in H2O, cutting connectivity is the most profitable segment once.

H2O declined to comment.


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