Cologne Gerrit Hölzle and his team, obsessed with detail, examined Dolphin Capital 80 (DC 80), a kind of money distribution center for German real estate group (GPG). In the summer of 2020, the real estate company from Langingen near Hanover collapsed, and other companies from the group followed suit.
Several months later, the insolvency official’s initial ruling on the most important part of the corporate network, DC 80, was completed. Holzel wrote that the company operated a “fraudulent business model.” “It has been proven beyond a reasonable doubt that the funds raised were used in the spirit of a pyramid scheme.”
GPG, which previously operated as the Dolphin Trust, mainly had foreign clients. Half a billion euros of capital came from Great Britain and Ireland alone, and thousands of East Asian investors have funneled huge sums of money to Germany, which leaked there.
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