Release from 10.04.2025

Fake President Incident: FACC received EUR 10.8 million in frozen funds back

The frozen funds of EUR 10.8 million seized in 2016 following the Fake President Incident in China were transferred back to FACC by the Republic of Austria at the end of March 2025.

After FACC fell victim to a fraud case at the end of 2015 (Fake President Incident), around EUR 10.8 million of these funds were frozen in Chinese accounts at the beginning of 2016 thanks to intensive cooperation between Chinese and Austrian authorities. These funds were transferred to the Higher Regional Court of Vienna in 2019 and have now been refunded to FACC after approximately 6 years of proceedings and extensive legal clarifications. As the frozen funds were booked as receivables, the receipt of the funds does not affect earnings, but increases liquidity.

“We would like to thank all authorities for their constructive cooperation in recent years. The final transfer of the funds to FACC puts an end to a long-standing legal chapter”, emphasizes CEO Robert Machtlinger.

Long duration of proceedings

The long duration of the proceedings of in total around nine years is due to the complexity of these proceedings, which not only involved the international cooperation of several authorities, but also extensive legal clarifications of the Austrian jurisdiction.
About FACC

FACC is a worldwide leading aerospace company in design, development and production of aerospace technologies and advanced aircraft lightweight systems. Being the technology partner of all major manufacturers, FACC works together with its customers on developing solutions for the mobility of the future. Every second, there is an aircraft taking off with FACC technology on board. In the fiscal year 2024, FACC achieved EUR 884,5 million in revenues. More than 3,800 people from +50 nations are employed at 15 international locations worldwide. The company is listed on the Vienna Stock Exchange. For more information please visit facc.com.

 

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Fake President Incident: FACC received EUR 10.8 million in frozen funds back
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Contact

Jakob Reichsöllner-Frischling
Jakob Reichsöllner-Frischling, MA
Corporate Spokesperson
Cell: +43/664/80119-2089
Email: j.reichsoellner-frischling@facc.com