Billionaire in Germany hands over millions to scam callers

A billionaire in Germany lost several million euros in cash and other valuables to scam callers who told him his daughter caused a deadly car accident, sources within the investigation confirmed to dpa on Thursday.

Police have not given an exact amount, with the responsible force mentioning "a very high amount of damage."

Unknown perpetrators called the man, who is based in the western state of North-Rhine Westphalia, and convinced him that his daughter was responsible for a car accident that supposedly killed the pregnant daughter of a Serbian diplomat, a police spokesman told dpa.

The criminals asked for money or valuables to appease the diplomat, according to police.

They obtained jewellery, watches, cash and gold during "two handover situations," the spokesman said, declining to give further details due to the ongoing investigation.

Criminal police have set up an investigative committee to probe the incident and are in close contact with the victim and his family.