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even just using the bike without permission is a criminal offense in Germany.
The punishment may be slightly less than for § 242 (stealing).
You can expect around 1-2 monthly salaries (30-60 Tagessätze, day's salaries) fine if you have no criminal record.
In case you don't receive a letter to show up at court but a so called "Strafbefehl" from the state attorney (Staatsanwaltschaft), you'll need to appeal within 2 weeks if it is not correct. You can also limit the appeal to the amount, for example the day's salary (Tagessatzhöhe) is too high.
However, usually the fine in a Strafbefehl is slightly lower than before court.
The address "Löwengrube 3" is just the police headquarters:
Will I be expected to attend court or can I just plead guilty and pay the fine. Is a strafbefehel basically pay the fine before I have to attend court and if I dont attend I will be summoned. Also will I still be OK to travel to germany should I pay the fine
You just don't appeal to the Strafbefehl and pay the fine. That would be all.
A problem when entering Germany will only occur if you don't pay the fine.