swissaustrian
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A very strange news story emerged in Germany's largest newspaper "Bild" yesterday with a follow up today:
A guy from Eastern Germany, the former Communist part of Germany (GDR), claims he deposited 57 million dollars worth of gold with UBS in Switzerland in the late 1980s and early 1990s. He later transferred it to Toronto, Canada, when he emigrated over there. Right now, he obviously lives in Wuppertal, Germany, and receives welfare.
He says that the gold was purchased with funds that he raised from the sale of a "bankrupt" company in Western Germany in 1986. That itself is a very weird part of the story, because citizens of Eastern Germany couldn't run companies in the Western part during the cold war, at least not without intimate connections to the power apparatus in the Eastern part. This company was probably a front organization for the GDR. The bankruptcy might have been faked to get the funds out. The current news story does NOT cover this, however. Setting up front companies is a standard procedure of intelligence services all over the world.
The ruling communists in Eastern Germany were organiszed in the SED party. This party was dissolved after the reunification of Germany in 1990. However, it has transferred it's vast funds and properties to a successor party called PDS which now calls itself "Die Linke" (the left). Their most talented politician is named Gregor Gysi, a lawyer by training. In Eastern Germany, he represented dissidents and politicial prisoners, but worked with the secret police Stasi, too. He provided detailed reports to the state about his clients. A classical snitch.
Mr Gysi is now representing the guy who claims that UBS stole his gold. According to the Bild newspaper, UBS's reasoning for refusing to deliver the gold is that the maximum storage period of 10 years was exceeded. That's almost certainly not the whole argument. There is probably more to it that we don't know yet.
Mr Gysi also contacted one of Germany's most ardent capitalists, Carsten Maschmeyer, the founder of an investment scheme called AWD that is borderline to a ponzi. He contacted Mr Maschmeyer, "because of his intimate connections to the current UBS leadership". He should help recover the gold. He refused to do it.
My conclusion is simple: The funds that bought the gold were property of Eastern Germany and were taken away during the collapse of the GDR. Mr Gysi will probably get a nice cut should he succeed.
Here are the links to the two articles from today and yesterday:
http://www.bild.de/politik/inland/gregor-gysi/bittet-milliardaer-um-hilfe-30376584.bild.html
http://www.bild.de/politik/inland/g...mandant-mit-dem-goldschatz-30394784.bild.html
A guy from Eastern Germany, the former Communist part of Germany (GDR), claims he deposited 57 million dollars worth of gold with UBS in Switzerland in the late 1980s and early 1990s. He later transferred it to Toronto, Canada, when he emigrated over there. Right now, he obviously lives in Wuppertal, Germany, and receives welfare.
He says that the gold was purchased with funds that he raised from the sale of a "bankrupt" company in Western Germany in 1986. That itself is a very weird part of the story, because citizens of Eastern Germany couldn't run companies in the Western part during the cold war, at least not without intimate connections to the power apparatus in the Eastern part. This company was probably a front organization for the GDR. The bankruptcy might have been faked to get the funds out. The current news story does NOT cover this, however. Setting up front companies is a standard procedure of intelligence services all over the world.
The ruling communists in Eastern Germany were organiszed in the SED party. This party was dissolved after the reunification of Germany in 1990. However, it has transferred it's vast funds and properties to a successor party called PDS which now calls itself "Die Linke" (the left). Their most talented politician is named Gregor Gysi, a lawyer by training. In Eastern Germany, he represented dissidents and politicial prisoners, but worked with the secret police Stasi, too. He provided detailed reports to the state about his clients. A classical snitch.
Mr Gysi is now representing the guy who claims that UBS stole his gold. According to the Bild newspaper, UBS's reasoning for refusing to deliver the gold is that the maximum storage period of 10 years was exceeded. That's almost certainly not the whole argument. There is probably more to it that we don't know yet.
Mr Gysi also contacted one of Germany's most ardent capitalists, Carsten Maschmeyer, the founder of an investment scheme called AWD that is borderline to a ponzi. He contacted Mr Maschmeyer, "because of his intimate connections to the current UBS leadership". He should help recover the gold. He refused to do it.
My conclusion is simple: The funds that bought the gold were property of Eastern Germany and were taken away during the collapse of the GDR. Mr Gysi will probably get a nice cut should he succeed.
Here are the links to the two articles from today and yesterday:
http://www.bild.de/politik/inland/gregor-gysi/bittet-milliardaer-um-hilfe-30376584.bild.html
http://www.bild.de/politik/inland/g...mandant-mit-dem-goldschatz-30394784.bild.html