Verius real estate fund losses affect German church districts and diocese

The financial scandal surrounding the Verius real estate fund has expanded to include several religious institutions. Investigations by NDR, WDR, and Süddeutsche Zeitung reveal that two church districts in Hamburg—Hamburg-West/Südholstein and Hamburg-Ost—as well as the Diocese of Augsburg, have suffered financial losses due to investments in the fund.

The Verius fund, which was intended to invest in real estate projects, fell into financial distress. While the exact amounts lost by the religious organizations remain undisclosed, the Diocese of Augsburg confirmed a loss involving a low seven-figure sum.

Felix Wienen, spokesperson for the Hamburg-West/Südholstein church district, stated that the investment is now considered a loss and that they do not expect significant returns. He noted that the decision was made based on available documentation and recommendations from external advisors at the time. The district emphasized that the investment represented less than one percent of its total assets, limiting the overall financial impact. Pension and retirement claims for employees remain unaffected by these losses.