Conman admits taking millions from BMW heiress

An international conman today admitted blackmailing Germany’s richest woman and defrauding her of millions.

Helg Sgarbi ,44, is charged with swindling BMW heiress Susanne Klatten of €6.8m and three other women out of €2.2m.

He faces 10 years in prison if convicted of fraud and extortion.

Sgarbi’s lawyer told a Munich court: “The charges in the indictment are, at their core, true.”

Ms Klatten is the daughter of BMW magnate Herbert Quandt and holds a 46% stake in the company in conjunction with her mother and brother. She also owns a 88.3% share of chemical company Altana.