Scam in Germany: investors who trusted the production of hydrogen in closed nuclear plants transferred 3 million to the company. Eur

Neither the company, which is based in the city of Krefeld, near Dusseldorf, nor the defendants have been identified due to the country’s strict privacy laws.

The indictment alleges that the company claimed in telemarketing calls to investors that it had a patent for converting former nuclear power plants into hydrogen production sites and that it was in talks with the federal government to save up to $230 million. EUR for the planned dismantling of 19 reactors, he writes hydrogeninsight.com.

However, the bankruptcy administrator told the court that “no real activity of the company was seen”, reports the German press agency DPA.

The four defendants deny all charges, insisting they had no intention of defrauding investors and fully believed in the business concept.

“The conversion concept is the solution,” the main defendant, a 61-year-old nuclear technician and head of the accused company, told the court.

“I was completely convinced of the idea,” said one of the defendants, a 67-year-old salesman.

“I never had any doubts about the seriousness of the company. Salaries were always on time and the number of employees kept increasing,” he added.

Another 50-year-old defendant in charge of marketing and sales said: “I was totally committed and still believe strongly in the idea. Repurposing power plants is the future.”

All 19 reactors shut down were located near bodies of water that had rail connections that could supposedly transport hydrogen to customers.

The hearing of the case is scheduled to continue in May.