Comeback of the fraudsters: Köller and Schäfer want to get started with S&K Universe!

Comeback of the fraudsters: Köller and Schäfer want to get started with S&K Universe!

Jonas Köller and Stephan Schäfer, the founders of the real estate company S&K, have announced a controversial comeback that is already causing a lot of discussion. The duo was convicted of an investor fraud in which more than 240 million euros were lost from around 11,000 investors. The market situation in which they operate continues to be characterized by numerous scandals and critical voices. In a new digital project called “S&K Universe,” they have opened social media and YouTube accounts to share their experiences in business and their luxurious lifestyle. [Welt] reports that Köller announced in a teaser video that her content would be about business and money.

Köller and Schäfer's legal difficulties began in 2013, when investigations into fraud, breach of trust and money laundering were initiated. The two entrepreneurs were sentenced to 8.5 years in prison by the Frankfurt (Main) regional court in 2017. During their trial, it became clear that they were not investing investors' funds in real estate, but were investing in their own opulent lifestyles, which included sports cars and mansions. After two-thirds of their sentence, the remainder of their sentence was suspended, giving them the opportunity to file for personal bankruptcy in 2019 and 2021. [Private Banking Magazine] adds that at the time of the comeback they are still active in the real estate industry, particularly through the company Abaton, which operates in a similar way to S&K.

Past and current developments

In the period before their comeback, Köller and Schäfer continued to live a luxurious lifestyle, financed by investor money. S&K's business practices were characterized by misleading investors; many of the properties pictured didn't even belong to the company. They sold properties to each other at inflated prices and promised investors returns of 12% per year through closed-end funds. Nevertheless, the system collapsed when fresh money stopped flowing. Many investors only found out about the bankruptcies and the loss of their savings through the press.

Now, with their comeback, Köller and Schäfer are enjoying the public's interest and criticism. Her accounts have now received mixed reactions, with many people deciding to subscribe to the new content. Nevertheless, skepticism remains high; Critics see the comeback as cynical, especially because many former customers are still waiting for their money. Köller themselves stated that they are looking forward to negative comments, which will certainly further fuel the already heated debate about their return.

The new strategy and business model

With “S&K Universe” Köller and Schäfer plan to offer content for a broad audience. They are currently publishing videos from Dubai in which they fly in first class and present luxury brands. The cynical undertone of their new venture is reflected not only in their choice of content, but also in the critical perception of their activities in the real estate industry after the bankruptcy. Abaton, their alleged new platform, demonstrates similar practices to S&K and makes urgent calls to owners in distress.

Overall, it remains to be seen how Köller and Schäfer's comeback will develop and whether they have actually learned from the past or whether they will give in to their previous practices again. Public attention will continue to follow them and closely monitor their actions.