Real estate: "Suspicions of corruption offenses": Authorities search the Bavarian Pension Chamber
The Munich public prosecutor's office is searching the largest German supply chamber. This is already the second raid by investigators this week on suspicion of corruption.
The Staatsanwaltschaft München I is expanding its investigation into the investment scandal involving the Bayerische Versorgungskammer (BVK) and Deutsche Finance Group (DFG). The authority is searching the BVK's headquarters in Düsseldorf and suspects corruption linked to loss-making property investments in seven US projects, including in New York, Miami Beach, Beverly Hills, Chicago, and San Francisco.
The probe targets current and former BVK employees and a DFG manager, with allegations that DFG staff may have bribed BVK employees with trips and perks. The BVK faces potential losses of up to €800 million on its €1.6 billion US property investments, which were organized through DFG funds.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
