Mishap at a Security Firm: Compensation Ordered for Stolen Coins Worth a Million Euros
- Banking institution successfully sues security firm for financial damages.
Let's dive into the bizarre case of a security firm that's allegedly been nicked for tens of thousands of euros worth of coins, leaving the Heidenheim Volksbank high and dry. The Stuttgart Regional Court's civil chamber has ordered the firm to cough up the cash, pending a final decision.
Here's the scoop:
The boodle was set aside for the German Federal Bank, temporarily kept in containers at the security firm. Sounds like a piggy bank setup, right? Unfortunately, for the Volksbank, it appears that the crooks may have made a runner with the coins from mid-2021 to mid-2022. The Village Bank is tallying a loss of nearly a million euros, most of it in two-euro coinage.
So, where did all the dough go?
The identity of the perps and the whereabouts of the missing loot remain a mystery. Surprisingly, the security firm only discovered the coin caper in October 2022 and promptly notified the Volksbank. The missing currency wasn't a topic of contention in court, according to a court spokesman. The debate revolved around which subsidiary of the security company should be sued and the magnitude of liability. The bank also raised the issue of duty of care, which the court didn't find persuasive.
With the judgment in hand, the accused firm has a month to challenge the ruling at the Higher Regional Court of Stuttgart. If they decide to fight it, the case could be buffed up for a retrial. Their contract with the Volksbank has been in effect since 1998.
Bank's Legal Advisor Speaks out
Volksbank’s legal counsel, Axel Hauser, expressed his bewilderment about the coin caper to the "Heidenheimer Zeitung." "I can't fathom how could this have happened," he remarked. As for the use of the pilfered currency, he was at a loss for words.
Board member Elke Müller-Jordan clarified that there had been problems with a change in insurance policies at the security firm. Due to confusion about the exact timeline of the missing coins, no insurance company is keen to step up and take responsibility. However, from the bank's perspective, the matter is clear: "It's our money, and we want it back."
Additional Lawsuits Pile up Against the Security Firm
There are two other civil suits against the security firm, with banks demanding compensation. The first one involves approximately 350,000 euros, while another centers around a loss of 1.7 million euros following a simulated robbery of a cash-in-transit vehicle in Ludwigsburg, January 2024. Two former employees of the company were handed down prison sentences for this fiasco last month. The Stuttgart Public Prosecutor’s Office confirms that two employees of the security firm are also under investigation. The investigation pertains to a damage claim of about 1,000 euros said to have vanished from the company. The affected firm declined to comment when asked.
- Heist
- Security Firm
- Coin
- Civil Trial
- Insurance
- Regulatory Obligations
- Germany
- Volksbank
The security firm, based in Germany, is embroiled in a civil trial with Heidenheim Volksbank, due to the loss of a substantial amount of coins worth nearly a million euros. The coins, intended for the German Federal Bank, were stored at the firm and vanished between mid-2021 and mid-2022. Additional lawsuits pile up against the security firm, with banks seeking compensation for losses totaling over 1.7 million euros, stemming from simulated robberies.
The security firm's insurance company refuses to take responsibility, due to a change in policies and confusion about the exact timeline of the missing coins. The Heidenheimer Volksbank, however, is adamant about the situation: "It's our money, and we want it back."
The security firm's legal advisor, Axel Hauser, has commented on the bizarre coin heist: "I can't fathom how could this have happened." The investigation into the missing coins and the simulated robberies involves the Stuttgart Public Prosecutor’s Office and two employees of the security firm are under investigation.
