German “Geritol Gang” Tortures Financial Advisor Who Lost Their Savings

The Sydney Morning Herald reports on a gang of German senior citizens who kidnapped and tortured their financial adviser:

A group of wealthy pensioners has been accused of kidnapping and torturing a financial adviser who lost about $4 million of their savings.

The pensioners, nicknamed the “Geritol Gang” by German police after an arthritis drug, face up to 15 years in jail if found guilty of subjecting German-American James Amburn to the alleged four-day ordeal.

Two of them are said to have hit him with a Zimmer frame outside his home in Speyer, western Germany, before he was bound with duct tape, bundled into the boot of an Audi A8 and driven 300 miles (483 kilometres) to a home on the shores of a popular holiday lake in Bavaria.

During his alleged confinement in an unheated cellar, Mr Amburn, 56, claims he was burned with cigarettes, beaten, had two ribs broken, was hit with a chair leg and chained up “like an animal”.

Armed commandos stormed the house in the early hours of Saturday morning. Forty police, accompanied by a doctor in the light of the captors’ infirmities, found Mr Amburn in his underwear.

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  • Green Man

    Fascinating development. Considering that the financial services sector has colluded with their watchdogs, the rating agencies, to get derivatives packed with toxic subprime mortgages labeled as AA investments and triggered a global economic crisis that they have, so far, eluded the consequences for, it is not surprising that some vigilantes have sprung up to enforce a little accountability. The truth is that the financial services sector has become the poster child for decadent Western Capitalism and the fact that they have been above the law and that some actually got a bonus for staying at their posts leaves a mere mortal incredulous. Amazing the power & privilege that money conveys on the amoral wheelerdealers who wield it. Even more amazing is the impliicit powerlessness of those who have been swindled out of their savings, pensions and home equity by an elite class of white collar criminals. Someday the full truth will see the light of day, and then we’ll see how John Q Public really feels about the biggest scam since Bernie Madoff.