Porsche Tuner UWE Gemballa Missing – Update
September 1, 2010 Leave a comment
As of August of 2010, Porsche Tuner UWE Gemballa is still missing in South Africa. Current rumors and speculation are that Gemballa fled to South Africa to avoid investigation by the German Government for tax issues. Other rumors are that UWE Gemballa was being held for ransom for $1 million dollars. Allegedly his wife Christiane sought reward. Opposite of that, rumor has it that she wired $1 million to South Africa. The only facts we do have, are as follows.
Gemballa was closed in February 2010. The company was liquidated and Gemball cars were seized by German authorities.
Gemballa earned €16.2m in 2007, and €8m in 2009. With the recession looming, collapse was on the horizon. By January 2010, Uwe decided to seek out investors in Dubai and South Africa.
On February 8th, Uwe arrived in Johannesburg for a two-day business trip. On the evening of February 9th, Uwe called his son and told him he had an accident and desperately needed one million dollars. It was the last time UWE Gemballa was heard from.
UWE Gemballa’s wife filed for power of attorney and plans to reopen are a done deal. She initiated a bankruptcy filing which seemed to be the end of the Gemballa tuning brand, but it has been announced two men have purchased the rights to the Gemballa name along with some of the company’s assets. Andreas Swartz has been announced as the new CEO of Gemballa, backed by investor Steffen Korbach.
Still no news on UWE Gemballa. At this point speculation is that UWE Gemballa is dead. Nothing official has been announced.