Victims of a high-profile German bank heist have begun filing lawsuits against Sparkasse Gelsenkirchen, after burglars drilled into a vault during the Christmas holidays and stole millions in cash and valuables. A lawyer representing the victims said three cases were filed on Wednesday at a court in Essen, accusing the bank of failing to maintain adequate security.
The theft occurred when masked intruders accessed the bank branch through a parking garage and bored into a vault containing thousands of safe deposit boxes. The incident shocked Germany and drew international attention. While the court declined to comment, the bank said it considered itself a victim and maintained that its premises were secured using state-of-the-art technology.
According to the lawyer, one claimant lost nearly €400,000 in cash stored after selling an apartment, while others lost jewellery, luxury watches, and gold worth tens of thousands of euros. The case has reignited debate over insurance coverage, as the bank has said contents of deposit boxes are typically insured for just €10,300, prompting warnings from regulators about customers understanding coverage limits.
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