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The bricklayer and the super-rich WDR documentary

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Published on Jan 23, 2020

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Josef Esch from Troisdorf in the Rhineland started out as a bricklayer foreman. A man from humble beginnings, he soon became a small-time property developer on the outskirts of Cologne. Josef Esch rose to become one of the largest and most powerful real estate developers and asset managers in the country. In the 1990s, the man rose from construction to the upper echelons of Cologne society. Together with the counts and barons of the House of Oppenheim, Josef Esch set up billion-dollar real estate funds, the so-called Oppenheim-Esch funds. The core of these were large construction projects in collaboration with the public sector, such as the new building of the Cologne Trade Fair. The Oppenheim-Esch funds became an insider tip for investments by multimillionaires and billionaires. The returns were first-class - but at the expense of the taxpayer, as it later turned out. The big Esch bash ended in court for the construction mogul and the bankers. Esch was convicted of tax evasion and illegal banking, his aristocratic business partners of serious breach of trust. For the distinguished private bank Sal. Oppenheim, the adventure ended in disaster. Also involved: Thomas Middelhoff, once a celebrated Bertelsmann star and later supposed Karstadt savior. He was ultimately convicted of breach of trust, arrested in the courtroom and is now insolvent. A scandal with a star cast. __ A film for Die Story im Ersten by Ingolf Gritschneder and Georg Wellmann This film was produced in 2019. All statements and facts correspond to the status at the time and have not been updated since then. Other documentaries on the topic: • Video

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