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The story of a German conman | DW Documentary financial history documentary



It was one of the biggest white-collar scams in German history. In the 1990s, Manfred Schmider and his company FlowTex took investors for more than two billion euros. Today, the conman himself can’t believe how easy it was to get away with a major fraud.

For years, banks and leasing companies paid entrepreneur Manfred Schmider money for machines that didn’t even exist. The more than 3,000 tunnel-drilling machines that were allegedly in use on construction sites around the world existed for the most part only on paper. There were no limits to the imagination of Schmider’s criminal mind. And everyone was blinded. Dubbed the “Sheik of Karlsruhe,” Schmider lived in the lap of luxury, showering his wife with 50-carat diamonds, collecting holiday villas and flying the ten kilometers to his workplace by helicopter.

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Could authorities have stopped his scheme earlier if they’d investigated accounts of his fraudulent practices when they were first reported? Manfred Schmider was convicted in 2000 and spent years behind bars. Today he lives on Mallorca.

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48 thoughts on “The story of a German conman | DW Documentary financial history documentary”

  1. Six years prison for stealing billions?? I fucken wish. The USA throws would give you 50 years. I’d steal all that money, do my six years, then retire when I got out of prison too.

  2. A £1billion annual ponzi property title deeds scam in UK /MALTA via forged power of attorneys by corrupt lawfirms /notaries who issue forged power of attorneys to obtain mortgages for themselves from inherited malta properties and illegally repossesed UK properties – 12 malta court staff, a criminal network within the the Malta government who even sent a maltese man, a malta government corrupt staff member posed as UK's head of legal department in my court hearing on 9th March 2019 at 2pm at the City&Mayor's County Court London UK to steal my home value approx £900,000 – this criminal network have on retainer corrupt staff within the UK's holy trinity infrastructure of the UK COURTS /UK LAND REGISTRY /UK COMPANIES HOUSE – all reported to MOJ, GCHQ, MP PRITI PATEL, MP ROBERT BUCKLAND, HOME OFFICE, POLICE, INTERPOL – I have had 16 court claims all abused and have yet to receive due monetary compensation

  3. I can't stand how this sociopath is allowed to continue his sob story/victim spiel. His sole regret is that he got caught. we have to educate ourselves about sociopaths. They can even con their way in the the U.S. presidency!

  4. Hey, he could come to America, we have legions upon legions upon legions of totally inconceivably dimwitted idiots here who would make him president and in fact worship the group that he walks on!

  5. Hes was among the 1% of the beneficiaries of the ponzi scheme, he had too much power loud and never cash out , that's against the corporate cartel code , he had to go down hahaha

  6. well if the cable laying failed as indicated how could he continue? My guess is the banks quickly became too deeply indebted to Schmider and virtually allowed him to continue the fraud unchallenged for years -as long as he repaid them from other borrowing – a la Madoff. Regretfully this documentary is repetitive and fails t explain the fundamental working of the fraud scheme

  7. It is not often when someone tries to cheat everyone mostly similar folks but at the end cheat only him or herself That man for me does not look disappointed at all He is ok with some stashed share somewhere back in his yard ha ha

  8. The banks print money out of thin air ,That fake money steals its value from all existing money in circulation .They then SELL us back that stolen money (through their puppet governments) ,@ interest . BUT they never create the interest ,, and that part of their (created ) debt is then missing from the money supply … so we are forced to pay TAXES… wake up, we are slaves to the banks . I say good man , if you can steal a bit back …The Rothchild's parasite steals £192 million pounds EVERY SINGLE DAY From the UK alone in interest . Just think about that for a moment . Inflation ,plus interest, plus taxes. all go's to them .

  9. Reminds me of trump, except this man has probably better morals and is less of a con man than he is. It's plain as day to see what trump is doing, I hope it catches up with him too

  10. This narrative is completely morally-bankrupt. The notion that "people only want to be around you if you are successful"….ignores that people in general do not want to associate with a liar, fraud, ignoramus, cheat, BS-artist, human garbage, who screwed hundreds and hundreds of people out of their money for his BS lies. I don't think his friends are the ones at fault.

  11. See the way he smiles with a foxish smile that says “Oh how clever I was! I would do it all over again, but smarter” lol his body language and facial expression of a man that has absolutely no remorse or regrets lol😂😂

  12. When DW and The Germans do a Documentary, boy do they do a documentary! You guys journalism is unmatched, unmatched by any other news outlet on the planet! 🙏👊👊👊

  13. Have been into gold investment since 2018 and n no o much improvement compared to working with mr Andrew, just decided to get into Bitcoin it's been profitable than gold thanks to Mr Andrew steve FXT who's broker helped me to receive my profit every 10 days of trading

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