Not a good deal – Strache was a victim of the wrong financial investor

“The loss for me is enormous. I have already lost a hotel, that is five and a half million in equity, which cannot be done without it,” one of those affected, the project developer Siegmund Kahlbacher, explained to the “Standaard”. He is apparently just one of many who gave in to the temptation of a supposedly significant investment in their company by the Dutchman Danny K.

First point of contact: Strache friend Höbart
Hotel developers, crypto entrepreneurs and cosmetics retailers have signed contracts with the man, but the millions in payments promised to them in the form of a corporate stake have apparently never been paid. At least 18 to 30 people are said to have been affected.

The first point of contact for many of them in 2023 was the ex-politician and Strache friend Christian Höbart. K. had promised him access to financial instruments with associated powers of attorney that would allow him to invest in companies in the form of equity investments (so-called venture capital), as he revealed to the “Standaard”.

Investor hoped for Strache’s network
The ex-politician believed him, wanted to work with him and eventually introduced Strache to him. Together, Strache and he would refer K. customers in order to receive a commission – attractive for the alleged investor because Strache in particular had important business contacts from his political days.

Prepayments required
One of these networks is also Kahlbacher. He lacked capital for a luxury seven-star hotel in Baden – there were ongoing costs for the project and therefore he hoped for quick financing from K. However, at an initial meeting he would like an advance of 550,000 euros from him – for example for insurance or a due diligence investigation – the money would then flow back.

Customers were scared off and the money didn’t flow
At this point, however, Strache himself is said to have changed his mind; it wouldn’t work that way, Kahlbacher quoted the words of the former vice chancellor. K. subsequently turned away from this payment and wanted to carry out the financing in this way. Kahlbacher accepted the deal, signed guarantees (according to his own statements, he is personally liable for 50 million), but the promised payments did not come.

Danny K. kept telling him that there were problems with the transactions and he would have blamed the banks for this. In the meantime, he collected fees from his clients, but ultimately described the clients themselves as fraudsters. He therefore had to withhold the payments he had already made to cover his own damages, he explained to the “Standaard”.

Strache tried to “build bridges”
Strache and Höbart eventually became suspicious and, according to Höbart, tried to build ‘bridges’ between K. and the customers and put pressure on the Dutchman, but they too got stuck. Ultimately, the business relationship ended in an advertisement. “We have suffered significant damage, a catastrophe, what happened here to Mr. K.,” Höbart continued.

The Vienna public prosecutor’s office is now investigating K. for serious commercial fraud and forgery.

Not everyone fell for K.
K. is said to have been very busy with his business. But not all potential customers fell for him. For example, he is said to have approached Vienna Austria this year to help the football club in financial difficulties with an interest in the stadium.

But he was not at all interested in concrete figures and data at the meeting, but immediately wanted to look for an investor, according to the club’s economic director: “I immediately knew that he had no idea.”