Court Case Over Deposit Insurance Fraud at Commerzialbank Involves Former Client

A 79-year-old former client of the Commerzialbank Mattersburg, along with her former bank advisor and nine associates, appeared in court in Eisenstadt to address allegations of fraudulent actions regarding deposit insurance following the bank's collapse. The case revolves around the improper redemption of savings books valued at nearly EUR130,000.

The elderly woman reportedly entrusted several word-based savings books to her bank advisor, who, with the assistance of his associates, facilitated their redemption. This scheme allegedly enabled her to recover a sum exceeding the EUR100,000 limit set by the deposit insurance scheme. Customers are typically responsible for any deposits above this threshold, but the woman sought to recover funds she believed were rightfully hers, accumulated over 60 years of work.

In her defense, the accused claimed she was unaware of the illegality of her actions. She recounted receiving a call from her former bank advisor after the bank's failure, during which he assured her of his ability to assist her financially. Following this conversation, she handed over the nine savings books, which the advisor then redeemed with the help of his associates, returning EUR99,500 in cash to her while keeping the surplus as a commission.

On the day of the court proceedings, the elderly woman arrived with the intention of rectifying the situation by returning the funds received, expressing her confusion over the deposit insurance limit. She mentioned that she had sought clarification from bank employees, a hotline, and acquaintances regarding the possibility of splitting the funds across multiple individuals to maximize her recovery.

Alongside the elderly woman, the ten other defendants acknowledged their participation in the scheme. They referred to a prior interview with Stefan Tacke, the managing director of the deposit insurance, who had indicated that it was permissible to distribute word-based savings books among multiple individuals. This statement contributed to their belief that their actions did not constitute a legal violation.

Initially, the case encompassed a larger sum due to the involvement of the woman's son and daughter, who had also shared their savings books. However, both opted to avoid legal proceedings by filing a voluntary disclosure.

The interrogation of the defendants was temporarily halted in the afternoon and is scheduled to resume the following day. The third and, at least for now, final court date is set for Friday.