Economy & Politics

Parties, luxury cars and an elephant: the S&K fraud scandal

“We love our money,” shout Stephan Schäfer and Jonas Köller and repeatedly run through their faces with a thick stack of 500 euro bills. It shows a private video published by Spiegel TV from the early days of the S&K Group – S stands for Schäfer, K for Köller. With their group of companies, the two have probably brought 11,000 investors for a total of around 240 million euros.

They are said to have squandered a lot of it on their dissolute lifestyle. Because the video is characteristic of Schäfer and Köller’s ostentatious lifestyle: They celebrated notorious parties, for which an elephant and zebras are said to have been brought in, they pose in front of luxury cars or surrounded by models


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