Accused confesses to investment fraud involving forest cooperative

A long-sought investment fraudster has confessed to his crimes at the start of his trial in Frankfurt's regional court. The 52-year-old admitted to living lavishly on the proceeds, purchasing expensive cars and watches.

According to the charges of commercial fraud, the accused founded the cooperative "Baum Arche" (Tree Ark). Through this entity, he solicited investments for a sustainable project in a forest area in the Havelland district, promising substantial returns. Between March and July 2022, with the help of financial intermediaries, he convinced 70 investors across Germany to invest a total of 583,000 euros.

In late July 2022, he fled from investigators to Italy. He was apprehended approximately two years later. The man confessed that his goal was to earn as much money as possible in a short period, choosing "green" investments because they were trending.

To deceive investors and financial intermediaries, he created documents such as statutes, a website, and brochures. He purchased a green certificate for the alleged forest investment from a company that, according to the presiding judge, sold such certificates without verification. He also invented a fictional employee for email correspondence with business partners.

Several financial intermediaries testified that the accused made an excellent impression, describing his presentations as "great" and the investment as "interesting with a great story." He allegedly promised at least one financial intermediary a significant commission. Furthermore, he reportedly told his then-girlfriend that he held a doctorate and had invented a false name for her to act as his assistant.

The accused has a criminal record, including a previous conviction in spring 2025 by the Frankfurt regional court for money laundering, for which he received a prison sentence of four years and three months. The trial is ongoing, with a verdict expected in early July.