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SBD Global/August 16, 2012/Finance

Former Finance Minister Ingolf Deubel Charged With Embezzlement Over Nurburgring Fiasco

The Koblenz County Court "agreed to charge former Rhineland-Palatinate Finance Minister Ingolf Deubel and five other managers for embezzlement" in connection with the financial fiasco at Germany's Nurburgring race track, according to the DPA. The trial is expected to begin on Oct. 16. Koblenz prosecutors already "indicted Deuble with embezzlement in February." He was "allegedly responsible for damages in the six-digit euro range and endangering tax-payer money in the eight-digit range." Deubel "denied the accusations back in February." In addition, the prosecution also accuses former Nurburgring Exec Dir Walter Kafitz of embezzlement and former Federal Accountant Hans-Joachim Metternich of aiding and abetting embezzlement. Overall, a total of six men have been charged with embezzlement or aiding and abetting embezzlement (DPA, 8/13).
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