German Account Holder Demands Compensation Skip to content

German Account Holder Demands Compensation

German citizen Karlheinz Bellmann, who had EUR 110,000 (USD 137,520) in a Kaupthing Edge savings account, is currently in Iceland, where Kaupthing is headquartered, demanding to be compensated for his lost savings and is not leaving before he does.

“I am utterly confused and I don’t know what to do. I need to get this money back. It is money that belongs to my four children and was intended for securing their future,” Bellmann told Morgunbladid.

Bellmann said he represents the 30,800 Germans who have a combined amount of more than ISK 50 billion (USD 360 million, EUR 290 million) in Kaupthing’s frozen accounts.

“I don’t believe this money is lost and I won’t accept that. I want my money back and I’m fighting for everyone else who is desperately waiting for answers,” Bellmann said, adding that he had waited for more than four weeks for information on the status of his savings, but received no answers.

A week before the Icelandic banking system collapsed, Kaupthing’s customers in Germany were assured that they would not need to worry, that their money would be safe and therefore few account holders withdrew their savings.

“I need answers. I not only want them, I need them. I’m not leaving before I get answers,” Bellmann concluded.

Click here to read about the collapse of Kaupthing Bank.

Copyright of image: Icelandic Photo Agency.

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