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July 4, 2014

Friday, July 04, 2014 - ,, No comments

Criminal complaint in Germany alleges art advisor defrauded client

Julia Michalska reported July 2 for The Art Newspaper "Fraud investigation into German art advisor widens" that a 24-page criminal complaint alleges that Helge Achenbach 'defrauding the late Aldi-supermarket heir [and Trader Joe's] and art collector Berthold Albrecht of €18m'.

Lisa Contag for ArtInfo reported in "German Art Consultant Helge Achenbach Arrested Due to Fraud Allegations" on June 24th that Achenbach's arrest followed allegations by the state attorney of the city of Eissen for 'overpricing art and vintage cars he purchased for collectors':
German newspapers Bild and Die Welt have reported that fraud allegations were made by the heirs of Berthold Albrecht, one of the founders of the German discount supermarket chain Aldi, who was one of Achenbach’s most important clients until his death in 2012.