CNC – Communications & Network Consulting AG
Hannes Kuhn acquitted of all charges by Düsseldorf Regional Court
– No point of suspicion could be substantiated
– Even prosecution calls for acquittal – Serious violation of presumption of innocence due to prejudgment by the media – Class action suits by investor protectors unsuccessful
Düsseldorf, 13 July 2017 – The Regional Court of Düsseldorf has acquitted Hannes Kuhn of all charges. The prosecution had initiated investigations following the insolvency of DM Beteiligungen AG in 2006. In 2011, the prosecution charged Hannes Kuhn with serious fraud (reference number: 017 KLs-130 Js 27/06-2/15). According to the findings of the prosecution, thousands of the company’s investors had lost a total of around EUR70 million as a result of DM Beteiligungen AG’s insolvency. Hannes Kuhn was the Chief Executive Officer of the tax consultancy firm mandated by DM Beteiligungen AG at the time. Even prosecution calls for acquittal Following 40 days of trial, during which countless witnesses were questioned and documents read out and evaluated, none of the suspicions of the prosecution could be substantiated. As a result, even the prosecution – most recently represented by prosecutor Thomas Riegermann – called for an acquittal. Presumption of innocence violated due to prejudgment by the media After the indictment was unduly leaked to the media in August 2011, prior to the trial, the proceedings led to wide media coverage from an early date, often characterized by biased reporting and unwarranted prejudgment of Mr. Kuhn. “The taking of evidence has shown that the accusation against Mr. Kuhn is without any foundation whatsoever. I know of no other trial in which the prejudgment by the media was so disproportionate to the actual facts, as in this case”, said Dr. Simone Kämpfer of the law firm tdwe, which has represented Mr. Kuhn since the beginning of the proceedings. Numerous media outlets had reported on the judicial proceedings for months. “I welcome today’s acquittal after more than 10 years of proceedings. I would like to express my respect to prosecutor Riegermann who, in the end, called for an acquittal, as well as to the court for its consistently fair conduct throughout the 40 days of trial”, said Hannes Kuhn. “However, my reputation and my former engagement with Solar Millennium AG have been severely damaged by the long proceedings and the prejudgment by the media.” Class action suits by investor protectors unsuccessful Numerous investors of DM Beteiligungen AG suffered losses due to the insolvency. After the indictment was published, investor representatives used its contents as grounds to file claims for compensation from Hannes Kuhn on behalf of the affected investors. After countless civil action suits were dismissed by different courts while the criminal proceeding was ongoing, the acquittal removes the basis for any further claims. Lawyer and expert for capital market law Ralf Straub, who has supported Hannes Kuhn in defense of the civil action suits, said: “I see more and more cases in which so-called investor protectors bundle investor damages actions in the course of trials. These trials are often based on suspicion and extremely low legal standards, so that the investors not only have to absorb the loss of their investments but also bear the costs of additional high attorney fees. This can also be seen in the insolvency case of DM Beteiligungen AG and the proceeding against Mr. Kuhn.”
About Hannes Kuhn Hannes Kuhn, born in 1964, holds a diploma in business administration and tax consultancy. In 1998, he founded Solar Millennium AG and acted as the Deputy Chairman of its Supervisory Board from 1999 until 2011. Today, Hannes Kuhn develops system technologies for renewables, recycling solutions for fuel production, the solar thermal “Frensel” technology as well as different energy storage systems through various holdings.
Media Contact Thomas Empt, CNC Communications & Network Consulting End of Media Release Issuer: CNC – Communications & Network Consulting AG Key word(s): Enterprise
13.07.2017 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. |