A year ago, René Benko ruled over a fairytale-like empire of glittering real estate and luxury department stores. It has now become one of the most spectacular and probably most unusual bankruptcies Europe has ever experienced.

Manager magazine reporters Margret Hucko and Martin Noé have been researching the case for months. Why does Benko still seem to have influence over part of the empire despite the bankruptcy? How great is the damage to German taxpayers now? And why doesn't just Benko's inner circle have to worry about possible criminal prosecution?