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Bank washes hands of porn business

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Bank washes hands of porn business
Photo: DPA
15:25 CET+01:00
German bank Commerzbank has got hot under the collar and is planning to terminate a business contract with internet porn mogul Fabian Thylmann following his arrest on suspicion of tax evasion, according to Welt am Sonntag.

Customers of German amateur pornography portal MyDirtyHobby, one of Thylmann's various sex portals, have for some time paid fees into an account held with the Hamburg branch of Commerzbank, according to the report.

The state prosecutor in Cologne is currently looking into who actually runs the amateur porn site. Thylmann claims a Cypriot subsidiary is responsible, but evidence has emerged suggesting Hamburg company Manwin Germany is behind it.

Former workers told the paper that Commerzbank employees had in the past made frequent visits to the Manwin headquarters.

Now the investigation into Thylmann's alleged dodgy dealings has prompted a few red faces at Commerzbank, which is keen to cut off all business relations with him as soon as possible in an attempt to save the bank from reputation damage, said the paper, citing sources in the business world.

Rules state that banks are allowed to terminate contracts without notice for “reasons of reputation.” According to the report, the account could be closed as soon as Monday.

Originally from Aachen in western Germany, Thylmann built up a pornography empire in just a few years through the holding company Manwin Holding SARL.

He is also behind the website YouPorn and several other sites such as Pornhub and Brazzers.

The Local/jlb

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