Real estate bankrupt treats himself to a luxury vacation in the Maldives

“All of these expenses were made in the months of November and December 2024, i.e. after the bankruptcy was declared,” says the second report by the renowned insolvency administrator Matthias Schmidt. He will inform the economic and corruption prosecutor’s office about this.

“My intensive investigations in cooperation with the investigative authorities have shown that the debtor has an account with the Lithuanian Revolut Bank,” says Schmidt.

Fixed more than a million euros in cash

The above-mentioned payments were made via this account. The account is said to have only been opened in mid-August but was kept secret from the insolvency administrator. During the course of research at Revolut Bank, Schmidt was also able to locate Neugebauer’s account at N26 Bank in Germany. “I have already asked the banking institution to block the account and transfer existing balances to the insolvency escrow account,” writes Schmidt. Overall, his research showed that Neugebauer “withdrew just under one million euros in cash” from accounts in the period 2023/2024 until the bankruptcy was declared on October 22nd.

In the insolvency proceedings of the entrepreneur Lukas Neugebauer, claims totaling 147.32 million euros have now been filed, half of which have been disputed by the insolvency administrator. The majority of creditors are banks that financed real estate purchases by Neugebauer or his companies. He is liable for the loans. He is said to be owed 3.5 million euros to the tax office, but Neugebauer denies this.

Private loan

“The accounts were filled with the private loan from a lender after the bankruptcy was declared, the liquidator has received the documents regarding this and is therefore irrelevant for the insolvency administrator,” Lukas Neugebauer writes to the KURIER. “In the insolvency proceedings, the creditors are only entitled to the income that is generated in the bankruptcy, but if a private lender is found who grants me a loan after the bankruptcy has been opened, which is repaid from my part of my income that cannot be seized, I can dispose of this money completely freely The creditors are not disadvantaged or impaired by these expenses.” The reservation is therefore “in itself legally incorrect and inconclusive”.

Neugebauer does not want to reveal who the private lender is. Just this much. It is a society.

Real estate moved?

As the KURIER reported, Neugebauer is said to have sold or moved seven properties to the EGN private foundation shortly before the bankruptcy was declared. According to the insolvency administrator, the purchase price should only be paid “in the form of a small cash payment and otherwise in the form of an assumption of the bank liabilities”. The consent of the creditor banks is said not to have been obtained. Lukas Neugebauer is still registered in the land register as the owner of these seven properties.

“Regarding the “shifting of real estate assets”, nonsense does not become truer if you repeat the claim several times,” writes Lukas Neugebauer to the KURIER. “From the time of purchase by me, the properties were subject to a ban on encumbrances and sales and were therefore never accessible to exploitation by the insolvency estate. So which usable assets (and only these are relevant in the insolvency proceedings) were moved here? Answer: none, correct.”

Investigations by the WKStA

Meanwhile, the WKStA is investigating Lukas Neugebauer and six other people on suspicion of fraud. Neugebauer has already denied this accusation in an earlier statement.