EMBEZZLEMENT OF MONEY

news sport j2 money culture scene video subscription AND THE RICH CRY The fight for the German business empire shocked the public, the son sued his own mother for embezzlement! Aldi Nord's heirs, whose fortune is estimated by Forbes at $ 17 billion, are arguing over instructions from Berthold Albrecht's will Writes: Jutarnji.hrPublished: September 18, 2020 11:51 Babette Albrecht with partner Sandra Rath at a fashion show in Duesseldorf Babette Albrecht with partner Sandra Rath at a fashion show in Duesseldorf Wcrart / face To Face / Face To Face / Profimedia Facebook Twitter Messenger E-mail The quarrel between the heirs of the German retail empire Aldi and Trader Joe’s escalated after the grandson of one of the founders of the supermarket chain decided to sue his mother for alleged embezzlement of money from the family foundation. Nikolay Albrecht , the grandson of the late co-founder Aldi Theo Albrecht , has filed a lawsuit in Kiel against his mother, Babetta , his three sisters and their lawyer, claiming they improperly raised millions of euros from one of the family foundations, the Süddeutsche Zeitung reported . Aldi, one of the world’s largest supermarket chains, was founded after World War II by brothers from Essen, Karl and Theo Albrecht. In 1961, the business empire was divided into the northern and southern divisions, Aldi Nord and Aldi Süd, and later acquired the American retail chain Trader Joe's. The heirs of Aldi Nord, whose fortune is estimated by Forbes magazine at $ 17 billion, have been arguing publicly since the death of Theo Albrecht’s second son, Berthold, in 2012, who in his will limited the family’s influence over the board of three foundations that care for family wealth. Albrecht’s widow, Babette, and her children — three daughters and a son born as fours in 1990 and another daughter born in 1992 — tried to challenge that instruction in the will, but failed. In 2019, the German Federal Administrative Court ruled that the heirs must reduce their presence on the board of directors at the Jakobus Stiftung, one of the three foundations.