The collapse of German container leasing firm P&R Group has led to accusations it was operating a giant Ponzi scheme and the firm 's senior management are now under investigation by prosecutors . A statement by P&R 's insolvency administrator revealed the firm sold nearly a million more containers to investors than it actually owned . P&R , which was once one of the world 's largest container handling firms , claimed to have sold around 100 million containers to investors in transactions totalling $ 4.12bn , but the administrator found just 600,000 in its inventory , with the discrepancies dating back over 10 years .
The collapse of German container leasing firm P&R Group has led to accusations it was operating a giant Ponzi scheme and the company's senior management are now under investigation by prosecutors. A statement by P&R's insolvency administrator revealed the firm sold nearly a million more containers to investors than it actually owned. P&R, which was once one of the world's largest container leasing firms, claimed to have sold around 1.6 million containers to investors in transactions totalling $4.12bn, but the administrator found just 600,000 in its inventory, with the discrepancies dating back over 10 years.