Displaying items by tag: helge achenbach

Following a trial that was prominently covered in the German press due to its illustrious protagonists, particularly the heirs of billionaire Berthold Albrecht, one of the founders of the German discount supermarket chain Aldi, German art consultant Helge Achenbach was found guilty of fraud by the District Court in Essen and sentenced to six years in prison on Monday.

The 62- year old used to be one of Germany’s most influential art consultants, entertaining long-term business relationships with some of the country’s wealthiest collectors. Berthold Albrecht, who passed in 2012, was one of his most important clients. Achenbach had repeatedly inflated the net purchase prices for art works and vintage cars he procured for Albrecht and other clients.

A district court in Düsseldorf ruled on Tuesday that German art adviser Helge Achenbach must pay €19.4 million in damages to the heirs of Aldi Supermarket heir Berthold Albrecht, the DPA reports. The ruling culminates a civil court case brought against Achenbach following allegations that he defrauded Albrecht of up to €23 million (see Fraud Claim Against Art Adviser). The art adviser is also part of a criminal trial, taking place in Essen. He has confessed to portions of the allegations (see Achenbach Gives Surprise Partial-Confession in Fraud Case and Achenbach Confesses to Yet More Fraud).

Meanwhile, German auction house Van Ham has won the rights to sell artworks still owned by the adviser's bankrupt company, Achenbach Art Consulting.

It will be a busy day for the first hearing of a lawsuit that has rocked the German art world. On 11 November, the Düsseldorf district court is due to hear the €19m fraud case of the Albrecht family against the art adviser Helge Achenbach, and only 30 minutes later, the case of Achenbach’s wife, who is counter-suing the Albrecht family.

Museums that were loaned works by the bankrupt art advisory firm belonging to imprisoned art advisor Helge Achenbach may keep the works in their collections as long as existent contracts are honored, Monopol reports.

The announcement was made by the preliminary administrator Marc D’Avoine on Monday. He declined to divulge the number of works currently on loan to or which specific works were involved.

A second plaintiff has come forward with a fraud claim against Germany’s most prominent art advisor, Helge Achenbach, according to the Handelsblatt. The state prosecutor, Anette Milk would only confirm on Thursday that a second claimant had been registered but would not disclose his or her name. The paper reports, however, that the claimant is Bernd Viehof, the billionaire son of Allkauf founder Eugen Viehof.

According to the report, Viehof was allegedly defrauded of between €1.5–2.5 million ($2–3.3 million) during the purchase of one or more artworks by George Baselitz.

German art consultant Helge Achenbach has been arrested after allegations of fraud. The 62-year-old is considered one of Germany’s most influential art consultants, entertaining long-term business relationships with some the country’s wealthiest collectors. According to the state attorney of the city of Essen, Achenbach has been accused of overpricing art and vintage cars he procured for investors. 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.