PV- Magazine,
By William Vorsatz: A German investment protection body is investigating whether Solar Millennium has broken financial laws. Financial authorities and attorneys are conducting investigations into whether Hannes Kuhn, the company’s chairman of the Supervisory Board and founder, who has recently stepped down. Two German newspapers, the
Stuttgarter Nachrichten and the Frankfurter Allgemeine Zeitung (FAZ) have reported that investment protection authorities in the country are investigating whether management of the recently insolvent Solar Millennium may have broken the law. The German Association for Securities Protection (DSW) is exploring all avenues in its investigation into the defunct Erlanger company. According to reports from the FAZ, calls have been made for Solar Millennium’s creditors to contact investment protection bodies. Some €200 million are at risk of being lost. Solar Millennium has recently been in the spotlight with regards to frequent changes of management and speculation as to the manipulation of accounts. More than 10,000 investors had invested into the middle-sized enterprise in good faith, for a greener future. However, not only shareholders have lost practically everything, stock worth €226 million had been issued along with direct investments of €54 million. Prosecutors and financial authorities are investigating founder Hannes Kuhn on suspicion of insider trading.
Source: PV- Magazine
PV- Magazine, By William Vorsatz: A German investment protection body is investigating whether Solar Millennium has broken financial laws. Financial authorities and attorneys are conducting investigations into whether Hannes Kuhn, the company’s chairman of the Supervisory Board and founder, who has recently stepped down. Two German newspapers, the 