German prosecutors probe Heraeus over alleged metals fraud
German prosecutors are investigating 16 suspects over possible embezzlement and fraud at Heraeus, the German precious metals trading and recycling group, following whistleblower allegations of irregular handling of customer materials.
Frankfurt prosecutors said they have been probing since June suspicions that customer-delivered metals were unlawfully withdrawn for processing between 2015 and 2025. Authorities stated there are grounds to believe illegal removals were made from customer material, News.Az reports, citing Reuters.
Heraeus last year set aside 457.7 million euros (about $540 million) in its 2024 annual report to cover risks linked to the irregularities, which were uncovered by an internal whistleblower at a recycling facility in Hanau, Germany. The company said the incidents were to the detriment of certain customers.
A Heraeus spokesperson confirmed cooperation with investigators and said affected customers have been compensated, adding that the company has strengthened compliance systems to prevent recurrence.
By Aysel Mammadzada
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