In a stunning revelation, details have emerged about the shadowy financial dealings of Steffen Korbach, the enigmatic figure who purchased the troubled German auto tuning company Gemballa in 2010.
Korbach, whose wealth and background have long been shrouded in mystery, is now implicated in a series of criminal activities, including money laundering and murder, according to recent statements by notorious Czech crime boss Radovan Krejcir.
The Gemballa Purchase and Suspicious Circumstances
Steffen Korbach acquired the rights to the Gemballa name from the German government in August 2010, shortly after the company had plunged into bankruptcy. At the time, Korach was a 27-year-old with no known financial education or institutional banking background.
This transaction raised eyebrows, particularly given Gemballa’s reputation for laundering money and the unresolved disappearance of its founder, Uwe Gemballa, who was abducted in South Africa in February of the same year. When Korbach acquired the company, in August, Uwe’s body still had yet to be discovered. At the time, many car industry insiders speculated the unknown purchaser was aware Mr. Gemballa would not return to Europe alive.
According to car industry insider Ben Meyer, “Prior to the original founders untimely death, Uwe Gembolla and the tuning company had been branded by global media for its ties to the mafia and money laundering. Immediately upon arrival in South Africa in February 2010, Uwe’s wife Christiane reported to authorities that he’d been abducted for ransom. Within a month, she was forced to file for personal and corporate bankruptcy.”
By May 2010, the Gemballa tuning company was deep in the throes of bankruptcy, and German authorities had seized control of the company. By July 2010, Steffen got the German authorities to sell him the Gemballa motor company name without taking on the previous owner’s liabilities.
Ben goes on to explain the history, “Following the 2008 market crash, wealthy customers stopped lining up at the tuning company. By 2010, Gemballa had created a bad name. It failed to provide services or satisfy commitments. After Uwe disappeared, Korbach didn’t purchase Gemballa’s prior debts to the banks, tax authority, creditors or clients. Instead, he purchased the name only. Since the company was in global headlines for money laundering, and Uwe’s body had still not been discovered, nobody could understand why an industry outsider would purchase the company.”
Mark Smith, a close friend of Uwe Gemballa, has always suspected Korbach’s involvement in Uwe’s disappearance and murder. “The timeline of events is very suspicious given the company was purchased before Uwe’s body was discovered,” Smith said. “Even after acquiring the debt-ridden company under tax investigation, Steffen reportedly invested over 15 million euros into it. I’ve always wondered why investigators never demanded Mr. Korbach explain the source of his money.”
Krejcir’s Revelations
Radovan Krejcir, now serving a 35-year sentence in South Africa, has begun cooperating with authorities in exchange for a reduced prison term. His recent testimony implicates Korbach as a co-conspirator in Uwe Gemballa’s murder and details their extensive criminal partnership. “Steffen, his brother Sebastian, and I became business partners back in the mid-2000s. Their initial job was to create investment vehicles and launder the cash proceeds derived from my drug, gambling, and sex trafficking businesses,” Krejcir revealed.
Krejcir further explained how Steffen Korbach, at the time he connected with Gembolla was residing in Panama, facilitated the laundering of millions of euros through various international banks. “Steffen’s job was to re-route the European funds to Switzerland, Panama, the Seychelles, Brazil, or other South American banks. To create a legitimate paper trail, Steffen came up with the idea of pumping and dumping stock.”
The Gemballa Connection
Krejcir’s connection with Uwe Gemballa began in the early 2000s. “I met Uwe for the first time at the Hilton Hotel in Prague to discuss an investment and tuning a Porsche. I agreed to loan him 1.5 million. After he failed to repay the loan, we agreed to stuff the interior of vehicles with money and drugs. Steffen’s job was to procure the purchase of Porsche Speedster vehicles and drop off millions in cash.”
According to Krejcir, Uwe Gemballa’s refusal to continue their illicit activities led to his abduction. “Steffen became convinced Uwe wouldn’t continue laundering our money and drugs, and the only way to continue business as usual was by killing Gemballa and taking over his company,” Krejcir claimed. The incarcerated crime boss told investigators, “The intrinsic value of Gemballa motors lay in its classification as a car manufacturer, allowing cars to be released without inspection by custom officials. This allows for stuffing cars with drugs or money, and exporting them globally”.
Legal and Expert Opinions
Legal experts are now calling for a thorough investigation into Korbach’s activities. Dr. Heinrich Müller, a German legal scholar, stated, “The allegations against Steffen Korbach are severe and require immediate and comprehensive investigation. The potential involvement in murder and large-scale money laundering points to significant gaps in regulatory oversight.”
Dr. Sarah Wagner, an expert in financial crimes, added, “The lack of scrutiny over Korbach’s acquisition of Gemballa, especially given the company’s notorious background and his inexplicable wealth, is alarming. This case highlights the urgent need for stricter enforcement of financial transparency laws.”
Ongoing Investigations
Authorities in Germany and South Africa are now re-examining the case, with renewed focus on Korbach’s financial dealings and possible criminal connections. As the investigation unfolds, the once-enigmatic figure of Steffen Korbach is now under intense scrutiny, his luxurious lifestyle and business empire potentially built on a foundation of crime and deception.
This developing story underscores the complex web of international crime and the far-reaching impacts of financial misconduct. The revelations about Korbach’s past could lead to significant legal repercussions and a re-evaluation of the oversight mechanisms in place to prevent such activities.
According to Ben Meyer, “After they found Uwe’s murdered body in October 2010, I remember thinking at least the Gemballa car legacy will live on. Uwe’s son Marc Phillip Gemballa, who was 16 years old at the time of his father’s untimely passing, would later spend years working his way up in the industry. When the orphaned son wanted to use his legitimate last name ‘Gemballa’ on his company, Steffen Korbach immediately sued him claiming trademark infringement.”
Meyer concluded, “It’s next level insensitive to rush and buy the Gemballa name immediately after the founder was abducted, especially prior to the body being discovered. Since Korbach wasn’t born into the German aristocracy, nor was he an heir to inheritance, the source of his money warrants further investigation by the proper authorities. Also, I don’t know if Steffen Korbach was involved in killing the Gemballa founder, but metaphorically speaking, there’s no doubt Mr. Korbach attempted to murder Uwe’s orphaned child both personally and professionally with lawsuits”.