Franco Albrecht was sentenced to five and a half years in prison. EPA
Franco Albrecht was sentenced to five and a half years in prison. EPA
Franco Albrecht was sentenced to five and a half years in prison. EPA
Franco Albrecht was sentenced to five and a half years in prison. EPA

German ex-soldier jailed for plotting far-right attack while posing as Syrian refugee


Simon Rushton
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A former German soldier has been sentenced to jail for plotting a far-right attack on senior politicians while posing as a Syrian refugee.

Franco Albrecht, 33, was sentenced to five and a half years in prison for “planning a serious act of violence endangering the state” presiding judge Christoph Koller said.

The trial shone a spotlight on neo-Nazi sympathies in the ranks of the German military and the effectiveness of the security services in standing up to right-wing extremism, which is described by the interior ministry as the biggest threat facing the country.

The court heard Albrecht, a father of three, planned the attack while posing as a refugee. Prosecutors backed away from allegations that he hoped to pin his atrocity on Syrians.

Then-justice minister Heiko Maas and a former parliament vice-president, Claudia Roth, were considered to be among his possible targets, the court in Frankfurt heard.

Albrecht, who has a full beard and wears his long hair tied in a ponytail, told the court he deceived authorities at the height of the 2015-16 migrant influx, in which more than one million asylum seekers entered Germany.

Albrecht darkened his skin with make-up to pose as a penniless refugee Christian fruit seller from Damascus called David Benjamin, and for 15 months he hoodwinked immigration officials, despite speaking no Arabic.

“Neither Arabic nor details about my story were necessary,” Albrecht testified, describing his conversations with immigration authorities.

Albrecht, the son of a German mother and an estranged Italian immigrant father, was arrested in 2017 while trying to retrieve a Nazi-era pistol he had hidden in a toilet at Vienna's international airport, and his fraud was discovered when his fingerprints matched two separate identities.

The court found that Albrecht planned to use the pistol and other weapons and explosives he had taken from the German army for an attack.

Soon after his arrest, then defence minister Ursula von der Leyen said Albrecht's case pointed to a much larger “attitude problem” in the German military.

Her successor Annegret Kramp-Karrenbauer ordered the partial dissolution of the KSK commando force in 2020 after revelations that some of its members harboured neo-Nazi sympathies.

Albrecht, who repeatedly expressed anti-Semitic, racist and hardline nationalist views before the court during his trial, testified that then-chancellor Angela Merkel had failed to uphold the constitution by welcoming the refugees.

His lawyers had called for a suspended sentence based solely on weapons law violations.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

Updated: July 15, 2022, 11:16 AM