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Portrait of Grenke short seller Fraser Perring


The Englishman Fraser Perring, 47, pillories companies and earns millions with it.
Image: Reuters

As a hunter, the self-deprecating Briton himself repeatedly becomes the hunted, also because he likes to cut open. He has already dealt with many companies, but one of his favorite opponents seems to be the German financial regulator Bafin.

W.hen Fraser Perring strikes, then without warning and always following the same pattern. As if out of nowhere, a report for several dozen pages appears on the Internet, which is peppered with numbers and quotations and always the same two F-words: fake and Fraud, Forgery and fraud. The target of attack is always a publicly traded company that Perring had previously bet on its price crash. The Englishman has had some success with his attacks. Because his allegations unsettle many investors, they sell their shares in companies that have suddenly fallen into disrepute. The share prices are falling sharply, while the management and the supervisory board can do nothing more than try to rebut the allegations quickly. Some companies succeed, others go bankrupt.

So now Fraser Perring and his company Viceroy Research have once again decided on a German company: Grenke Leasing, a company from Baden-Baden that earns its money by renting office equipment and IT and is listed in the M-Dax. In addition to Perring’s usual accusations of balance sheet falsification and fraud, the Grenke report published last Monday added another: money laundering. The share price then collapsed by half within 48 hours. Only when the Baden company rejected the allegations from the 64-page report did the situation calm down and the price rose again.

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