Children of German tycoon Schlecker jailed for fraud

Children of German tycoon Schlecker jailed for fraud

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Lars and Meike Schlecker were found to have deceived auditors and shareholders

The son and daughter of a German retail tycoon have been jailed for more than two years each in a bankruptcy case.

Anton Schlecker was on trial with his wife and two children over the collapse of his pharmacy chain, which once employed some 50,000 people.

His daughter Meike, 44, got two years and nine months, and son Lars, 46, got two years and eight months. They were found guilty of theft and deceit.

Anton got a suspended two-year jail term and 54,000-euro (£48,000) fine.

The Schlecker business went bankrupt in 2012. His shops sold personal hygiene goods and household articles.

The Stuttgart court, in south-west Germany, found that the family had enriched themselves with several million euros before the bankruptcy.

The embezzled funds should have gone to shareholders.

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In 2012 Schlecker stores closed all over Germany – this one was in Berlin

In Germany about 25,000 Schlecker staff lost their jobs, as did a similar number elsewhere in Europe, after the business filed for bankruptcy.

Lars and Meike ran a logistics firm called LDG which, prosecutors said, was used to siphon off assets from the Schlecker company.

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