LKA Investigates Suspected Fraud of €5.5M in KfW Coronacredits
The Lower Saxony State Criminal Office (LKA) is conducting a major investigation into suspected fraud involving KfW Coronacredits. The probe, which began in 2023, has led to searches in multiple states and the accusation that several individuals have fraudulently obtained millions in loans.
The investigation centers around six suspects, aged 40 to 64, with a 40-year-old and a 56-year-old being the primary targets. The 40-year-old suspect is accused of applying for and receiving KfW quick loans totaling 3.5 million euros for five companies in the logistics industry. Allegedly, they circumvented maximum loan amounts and used the funds for unintended purposes. The main suspect is also accused of submitting false loan applications for her own company, resulting in a loss of 2.0 million euros. The LKA's financial investigations and economic crime department conducted searches at twelve objects in the federal states of Lower Saxony, Hamburg, and Saxony-Anhalt, securing digital evidence and company documents. The investigation suggests that two companies' insolvencies were allegedly delayed, leading to further investigations into economic crime by the LKA.
The LKA continues to evaluate evidence and conduct further investigations. The accused individuals face serious charges, including fraudulent use of KfW Coronacredits and delaying insolvency. The outcome of this case is yet to be determined, but the LKA's efforts highlight their commitment to combating financial crimes.
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