Sport Process Against Ex-Chief of Mifa begins

15:35  21 july  2021
15:35  21 july  2021 Source:   instyle.de

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in the process against the former board of directors of the bicycle farmer MIFA AG Sangerhausen the public has been excluded.

Der frühere Vorstand des Fahrradbauers Mifa Sangerhausen (r) in einem Saal des Landgerichtes Halle. © Sebastian Willnow / DPA Central Image / DPA The former board of the bicycle maker Mifa Sangerhausen (R) in a hall of the district court Halle.

After the prosecutor had introduced the allegations against the defendants, the process participants met on Wednesday to a legal interview. It was unclear first whether it will come to an agreement or the negotiation is continued.

The prosecutor's office accuses the ex-manager particularly severe fraud in ten cases. The 65-year-old did not comment on it. According to the accusation, he should be deliberately and knowingly caused that information on the net assets, financial position and results of operations of the stock corporation has been displayed incorrectly or veiled for years. Capital investors were deceived and therefore financially damaged. Due to the actions of the defendant, a total of a total of around four million euros was created, said the prosecutor Tobias Günther.

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The basis of the Secret Board has shown the situation of the company better than she was actually. "The foreclosure of false facts has led to a loss of wealth of great extent," said the prosecutor. MIFA AG went to the Frankfurt Stock Exchange in 2004. Bonds were issued to bring fresh money to the company. In 2014, Central German Fahrradwerke AG (Mifa / Sangerhausen) announced bankruptcy.

The company was considered one of the highest-rate bicycle manufacturers in Germany. In the South Resin, Mifa was one of the largest employers with an 110-year-old company history, in East Germany one of the most famous companies. From the insolvency of MIFA AG, hundreds of employees as well as suppliers were affected in the former copper mountain region.

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