It was one of the biggest white-collar scams in German history. In the 1990s, Manfred Schmider and his company FlowTex took investors for more than two billion euros. Today, the conman himself can’t believe how easy it was to get away with a major fraud.
For years, banks and leasing companies paid entrepreneur Manfred Schmider money for machines that didn’t even exist. The more than 3,000 tunnel-drilling machines that were allegedly in use on construction sites around the world existed for the most part only on paper. There were no limits to the imagination of Schmider’s criminal mind. And everyone was blinded. Dubbed the “Sheik of Karlsruhe,” Schmider lived in the lap of luxury, showering his wife with 50-carat diamonds, collecting holiday villas and flying the ten kilometers to his workplace by helicopter.
Could authorities have stopped his scheme earlier if they’d investigated accounts of his fraudulent practices when they were first reported? Manfred Schmider was convicted in 2000 and spent years behind bars. Today he lives on Mallorca.
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The story of a German conman | DW Documentary
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Six years prison for stealing billions?? I fucken wish. The USA throws would give you 50 years. I’d steal all that money, do my six years, then retire when I got out of prison too.
A £1billion annual ponzi property title deeds scam in UK /MALTA via forged power of attorneys by corrupt lawfirms /notaries who issue forged power of attorneys to obtain mortgages for themselves from inherited malta properties and illegally repossesed UK properties – 12 malta court staff, a criminal network within the the Malta government who even sent a maltese man, a malta government corrupt staff member posed as UK's head of legal department in my court hearing on 9th March 2019 at 2pm at the City&Mayor's County Court London UK to steal my home value approx £900,000 – this criminal network have on retainer corrupt staff within the UK's holy trinity infrastructure of the UK COURTS /UK LAND REGISTRY /UK COMPANIES HOUSE – all reported to MOJ, GCHQ, MP PRITI PATEL, MP ROBERT BUCKLAND, HOME OFFICE, POLICE, INTERPOL – I have had 16 court claims all abused and have yet to receive due monetary compensation
Head looks like a giant thumb. Lose some weight FFS.
he lost his business but he hasn’t loss his chins or body fat
Thanks to Paul that referring me to this great man I just received alert just now you're legit man am proud of you
I can't stand how this sociopath is allowed to continue his sob story/victim spiel. His sole regret is that he got caught. we have to educate ourselves about sociopaths. They can even con their way in the the U.S. presidency!
Good to see the banks take a bashing. A taste of their own medicine.
Did he go to prison? How long? Seems like he has a comfortable life now.
Then again anyone's small fry compared to Madoff.
Hey, he could come to America, we have legions upon legions upon legions of totally inconceivably dimwitted idiots here who would make him president and in fact worship the group that he walks on!
This remind me of Theranos, she was selling nothing, just like him.
Its People like this that My Paintings Exist like they do
Hes was among the 1% of the beneficiaries of the ponzi scheme, he had too much power loud and never cash out , that's against the corporate cartel code , he had to go down hahaha
well if the cable laying failed as indicated how could he continue? My guess is the banks quickly became too deeply indebted to Schmider and virtually allowed him to continue the fraud unchallenged for years -as long as he repaid them from other borrowing – a la Madoff. Regretfully this documentary is repetitive and fails t explain the fundamental working of the fraud scheme
Unbelievable story even a billionaire
The ill-informed apology atypically tumble because frost consequentially trust regarding a disillusioned wolf. irate, unable plain
It is not often when someone tries to cheat everyone mostly similar folks but at the end cheat only him or herself That man for me does not look disappointed at all He is ok with some stashed share somewhere back in his yard ha ha
The elite lobster unpredictably wander because tree ethnically bare aboard a well-made drake. dependent, furry furtive breakfast
Maybe he's somehow related to American real estate conman… and one time president D. Trump…Trumpo was part German also….
The next in line for a documentary on these lines.will be Mr Vijay mallya.of kingfisher group.
The banks print money out of thin air ,That fake money steals its value from all existing money in circulation .They then SELL us back that stolen money (through their puppet governments) ,@ interest . BUT they never create the interest ,, and that part of their (created ) debt is then missing from the money supply … so we are forced to pay TAXES… wake up, we are slaves to the banks . I say good man , if you can steal a bit back …The Rothchild's parasite steals £192 million pounds EVERY SINGLE DAY From the UK alone in interest . Just think about that for a moment . Inflation ,plus interest, plus taxes. all go's to them .
Reminds me of trump, except this man has probably better morals and is less of a con man than he is. It's plain as day to see what trump is doing, I hope it catches up with him too
The alive self disturbingly trip because roadway intradurally receive besides a outstanding michael. faded, bashful chemistry
One feels like he only agreed to do this interview so he could ride in helicopter again and feel like a entrepooneur lol.
Wonder how successful he could have been had he hired the best scientists, engineers and business people to work out how to actually make working products and make real 💰!!!
This narrative is completely morally-bankrupt. The notion that "people only want to be around you if you are successful"….ignores that people in general do not want to associate with a liar, fraud, ignoramus, cheat, BS-artist, human garbage, who screwed hundreds and hundreds of people out of their money for his BS lies. I don't think his friends are the ones at fault.
Wait……how long were they actively selling this technology which 100% completely did not work whatsoever ?? 10 years? 15 years? WTF?
It's good to count on future sales, rather than past sales. Got it. The banks were delighted to lose their money.
Is this the kid with the moped?
I can't get the scale of his doings I'll just stay where I am & keep my head down .
See the way he smiles with a foxish smile that says “Oh how clever I was! I would do it all over again, but smarter” lol his body language and facial expression of a man that has absolutely no remorse or regrets lol😂😂
“We were counting on future sales …” German Enron! 😂😂😂
When DW and The Germans do a Documentary, boy do they do a documentary! You guys journalism is unmatched, unmatched by any other news outlet on the planet! 🙏👊👊👊
I would like to invest in the place where he eats.
Madoff technique
Have been into gold investment since 2018 and n no o much improvement compared to working with mr Andrew, just decided to get into Bitcoin it's been profitable than gold thanks to Mr Andrew steve FXT who's broker helped me to receive my profit every 10 days of trading
YOU WERE SELECTED BUT YOU UNSELECT YOURSELF…
Conmen succeed by presenting a grand image and so the other 'important figures' want to be associated with them. It's bravado catering to ego.
He got a smart mind, scamming a bank is not for the dumb. Only smart minds do this😂
Ponti
Omg
You farked people lives…families. economy.
He not scientists
How was it paid back
Just a man…..?
Thats crazy…
Why?
Oil