Celebrity Chef's Prison Sentence Doubled
Frankfurt - Oliver Storz (36), once a shining light in the restaurant and real estate industries, will not be getting a break in court. Instead, he received an even harsher sentence at Frankfurt District Court:
4 years, 6 months in prison - no parole
The court found enough evidence to convict Storz of defrauding around two dozen investors of around 8,500,000 euros from 2012 to 2018 through his complex investment company "Fine-Group."
According to the prosecution, Storz did not invest the money as promised but instead spent it on his extravagant lifestyle and running two luxury restaurants.
Senior Citizen's Lost Investment
Doris K. (75) from Stuttgart is one of the victims. She had invested 10,000 euros for three years, expecting a 3% return. The elderly woman has decided not to sue Storz. "I'll spend more on legal fees than I'll ever see of my money back," she lamented.
Storz's Remarkable Audacity
Despite an active arrest warrant, Storz continued to operate in the financial market, leading to further investigations. Four months after receiving a fraud sentence in 2016 (on probation at the time), Storz opened the luxury steakhouse "Golden Wing" on Schweizer Strasse (Frankfurt-Sachsenhausen), drawing 300 guests and making a splash.
Model Micaela Schäfer's Regret
Model Micaela Schäfer (40), who was supposed to help attract guests to the opening, has since written off the 2,500 euros Storz allegedly still owes her and decided against suing. "It's been so long, and I'm not sure he can even pay," she explained, adding that going to court would only stress her out and drain her finances.
The scandal surrounding Storz's luxury parties and the alleged role of his close friend Tatjana Gsell in defrauding investors caused further investigation. Eventually, police arrested Sönke Schülenburg, a business partner of Storz, suspected of being the mastermind behind the fraud scheme.
As the trial progressed, Jörg Ortmann, an insurance agent who had invested client funds with Storz's Fine-Group, testified about the lack of interest business and misuse of funds.
Hesse's Finance Minister responded to the fraud allegations by introducing stricter regulations for insurance agents and financial intermediaries in an effort to prevent similar situations.
Storz's prison sentence resulted in the closure of his once-thriving luxury restaurants in Frankfurt am Main, causing a significant slowdown in the leading area for real estate development. The celebrity party scene in Frankfurt am Main was also shaken by the scandal, with Storz's infamous "Golden Wing" steakhouse becoming a symbol of greed and exploitation in the financial world.
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