Signa bankruptcy: Public prosecutor’s office charges four ex-managers with embezzlement of millions

The backgrounds

A 45-year-old co-accused is said to have helped him as the person authorized to dispose of the recipient accounts. Two other suspects are said to have coordinated and monitored the execution of two transfers by employees. The public prosecutor accuses them of aiding and abetting breach of trust.

The result: More than 8.4 million euros of the transferred funds were never paid back to the original company.

The Berlin regional court must now decide whether to admit the charges. The accused have not yet commented on the allegations. The Berlin indictment is part of the legal investigation into the largest bankruptcy in European economic history. In Germany, the Signa Group included, among others, the luxury department store KaDeWe and the department store chain Galeria.