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» Personal Loan No Credit Check, Online Economics » Machine and equipment manufacturer » Topics begins with F » FlowTex
The company FlowTex technology GmbH & CO. Kg in the Ettlingen of Baden stands for the heaviest case of white-collar crime in the history of the Federal Republic of Germany.
FlowTex acted produced horizontal drill presses in the period between 1994 and 1999 also of the Spanish company Maquinista de Levante (marks), with which pipings can be shifted in the soil, without breaking the entire distance. FlowTex sold allegedly approximately 3,000 of these machines, which existed however mostly only on the paper, to a unit price of approximately 1.5 million DM.
Founder of the company FlowTex was Manfred Schmider as well as his Kompagnon Klaus Kleiser. Their business guide was Angelika Neumann, the chief of finances Karl Schmitz. The managing director of the manufacturing firm of marks was Matthias Schmider, the brother of Manfred Schmider. Matthias Schmider was involved as managing directors of the supplier company in the FlowTex fraud, in which calculations were issued over 1200 not existing drilling equipment. After computations of the insolvency manager of FlowTex Matthias Schmider is to have gained in this way over 85 million DM.
Drilling systems were sold by FlowTex to fictitious leasing companies, which were created mostly by the managing directors of the FlowTex themselves. FlowTex leased the machines again back, in order to guarantee the market need for a financing by borrowing, necessary for the leasing companies, with the banks. The received credits of the leasing companies for the purchase of the missing drill presses was the profit of the fraud. In order to kaschieren the circumstance that only one tenth of the drilling systems really existed, the partners von FlowTex before audits of operating results among other things also the serial numbers falsified on the permission describing of the drilling equipment, as always new permission plaques with new serial numbers on the same devices were applied.
With this system of the credit fraud it concerned a "business model" of enriching comparable with a snow ball system, which did not require sales always new for the Sicherstellung of the payment of the leasing installments to the leasing companies existing machines to those leasing companies.
In legal proceedings not locked yet involving of operating examiners of the responsible tax office is examined, which is accused during their audits of operating results knowledge of the fraud to have attained however did not announce him. It is accused to them despite knowledge of the state of affairs to have been silent because they are to have received contributions of equipment in a case from FlowTex, and because them generally the circumstance of the repayment of illegitimately exhausted trade tax is to have been conscious to the tax office in million height.
The FlowTex business had been paid duty properly, why the city Ettlingen had to pay a considerable amount back at trade taxes after uncovering the scandal to the insolvency manager.
In minutes of the public meeting of the regional court Karlsruhe file reference: brown against country Baden-Wuerttemberg because of state adhesion from 9 June 2005 the financial official Manfed Seyfried among other things made 2 0 60/03 in things the following statement: "We as well known tax practically everything, also conversions from punishable actions like e.g. acceptation of stolen goods business. It was however first of all the question whether it concerned a fraud, before one employed considerations as to be taxed was ".
In the year 2000 Manfred Schmider and further coworkers this fraud was proven to the managing director, which had caused a damage of approximately 2.9 billion Marks; the responsible persons were condemned 2002 to six to twelve years imprisonment. Although the principal defendant Manfred Schmider served only scarcely half of his punishment, he receives the status of a now. To be in addition it permitted as economic advisers further active.
Beside the responsible person with FlowTex came also chartered accoutant, authorities, public prosecutor's office and FDP and CDU politicians of the country Baden-Wuerttemberg into the twilight, since the air business remained undiscovered long years. Manfred Schmider maintained friendly contacts to several carriercarrier carriers and was very much respectable before uncovering the scandal as successful sample entrepreneurs.
Between 1994 and 1999 FlowTex of leasing companies took approximately 4.2 billion DM. In the form of leasing installments from it approximately 2.6 billion DM were re-imbursed. In fraudulent way the attained profit amounted thus to approx. 1.6 billion DM.
The material business expenses resulted in this period (salaries, rent) amounted to approximately 686 million DM as well as taxes of approximately 325 million DM. The remaining difference from approx. 616 million DM to the managing directors at that time from FlowTex flowed: Manfred Schmider, Dr. Klaus Kleiser, Angelika Neumann (business guide of the "KSK Guided Microtunneling Technologies") and Matthias Schmider and to various holding companies in connection with participation in leasing companies at a value of 80 millions DM.
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