Raid on Reich citizens: Illegal banking and insurance transactions? Police search "Kingdom of Germany"

The police and supervisory authorities are taking action against the Reich Citizens' Association "Kingdom of Germany" in a large-scale operation.

Raid on Reich citizens: Illegal banking and insurance transactions? Police search "Kingdom of Germany"

The police and supervisory authorities are taking action against the Reich Citizens' Association "Kingdom of Germany" in a large-scale operation. This involves suspected illicit financial transactions. Since the early hours of the morning, the financial regulator Bafin has been searching ten of the association's properties in several federal states with the support of forces from the German Bundesbank, the Saxony State Criminal Police Office and the police, as Bafin announced on Wednesday. So-called Reich citizens do not recognize the Federal Republic and its democratic structures.

There is a suspicion that banking and insurance business is being carried out without the necessary permission, the supervisory authority said. The Bafin has been taking strong action against the main suspect behind the “Kingdom of Germany” for many years. The illegally operated businesses were banned several times and their liquidation was ordered.

The self-proclaimed "King of Germany" continued his illicit business again and again, despite, among other things, being convicted of illicit insurance transactions. “The illegal banking and insurance transactions of the “Kingdom of Germany” are criminal offenses that can be punished with fines or imprisonment of up to 5 years,” the authority explained.

The Saxony State Criminal Police Office reported that the search was carried out on the basis of an order from the Dresden District Court. The aim is to secure evidence and enforce arrest orders. The authority wanted to provide information about the exact results after the end of the operation. According to the LKA, there were searches in Saxony, Brandenburg, Saxony-Anhalt and Hesse. Specifically, there are nine defendants between the ages of 34 and 73. They are accused of having founded and operated a health insurance company without the necessary authorization, as well as illegal banking transactions. One of the accused is said to have been an assistant to the others.

Further sources: LKA Saxony, BaFin

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