34.9 Million Euros in Damages - But Court Sees No Fraud in Gold Mine Case

The Economic and Corruption Prosecutor's Office (WKStA) relied on an expert report by a book expert, which Senior Prosecutor Marcus Schmitt described as "devastating." The defense countered that the report was "incomplete, contradictory, and incorrect," according to lawyer Klaus Ainedter, who rejected the expert due to bias. The evidence procedure ultimately showed that they were "light years away from fraud," according to the defense.

Gold Mine with Mining Rights: Investors Were Aware of the Risk

The investment model was developed by a former UN soldier and former Brazilian consul together with a couple living in Austria. The consul, who lives in Guyana, is said to have acquired a gold mine with lifelong mining rights. Investors could invest in gold mining through a company, while the couple was responsible for distribution – including through promotional videos.

From the beginning, the business was declared a high-risk investment with a possible total loss. Unforeseeable events such as the Covid-19 pandemic and a flood disaster made gold mining impossible in 2020 and 2021. During the pandemic, there was a lack of workers, and subsequently, floods destroyed machinery and production facilities.

Court Sees No Fraud, All Defendants Acquitted

The jury concluded that there was no deception, as the risks were clearly communicated in the General Terms and Conditions (GTC). Judge Christian Böhm justified the acquittal by stating that investors had been informed about possible losses. No corporate fine was imposed either.

(APA/Red)

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