the According to current information, a Liquidation is imminent, the Envion AG. Investors should get money back. Alienated they remain. This is due to the business practices of the Envion AG. And at the current Bitcoin rate.
By Phillip Horch
28. November 2018 share Facebook Twitter LinkedIn xing mail
The promise promise sounded so full and alarming: 161 per cent rate of return on deposits in the ICO, the Envion AG. The Use Case should convince: mobile Bitcoin Miner, the use of excess wind-generated electricity. With the prospect of the so-called “Mobile Mining Units” collected Envion then until January 2018, a total of 100 million US dollars. In the case of a former Bitcoin exchange rate of approximately US $ 20,000 is a tempting offer.
Envion: Good business model, and more
The Problem: There were neither business sales operation. In short: The investors were, ultimately, relatively useless Token.
in the Midst of the events of two people facing each other: Michael Luckow and Matthias Woestmanns. The latter was supposed to lend to the company as a former correspondent for the ARD, especially a serious face.
What followed, however, was less serious. Through a capital increase Woestmann made it together with his attorney Thomas of Aubel, to increase his share of the Company at the Envion LTD from 31 to 81 percent. Michael Luckow and his Team were against it legally. According to a ruling by the capital increase, however, was right. The rift, which announced that for an ominous trip to China, strengthened.
One of the “most successful” ICOs
nevertheless counted for the ICO to be one of the “most successful” projects of its kind – with a total of 86 million shares issued Token with a face value of 1 US Dollar, the promising project has collected a lot of capital. Once the ICO was completed in January, came a for investors alarming message – Envion is said to have increased the number of tokens to 40 million units. In the White Paper was nothing but apparently. The Zurich-based tages-Anzeiger:
“reported On the 27th. January is followed by a Bang: At the end of a session Woestmann mentioned that he has increased the number of shares of the company. With this move, the shares of the founders will be diluted in such a way that their share of 81 drops to 31 percent. The majority has […] Thomas van Aubel is a business lawyer who was already involved in a number of hostile Takeovers (Balda, Q-Cells). Van Aubel is a longtime friend Woestmanns and was brought by him previously as a legal Advisor to Envion. Woestmann for this step noble reasons: He refers to irregularities in the ICO – to him it is going to be the protection of investors.“
Michael Luckow against Matthias Woestmann
On the 22. June of this year, there was a process: The Trado GmbH, represented by Michael Luckow, went against square Capital, represented by Matthias Woestmann, CEO of Envion,. Trado GmbH stated that it had organised the ICO, the Envion AG, even and technically handled. “Envion AG” was only a “legal case” or a “legally necessary vehicle for the ICO”. Finally, Envion was suspected to be merely a letter-box company in Zug, Switzerland.
The Problem: in The White Paper are not shown, propagation of the Token led to a significant loss in value of the EVN-Token. So verbraucherschutz.tv:
according to “in the White Paper is not the prospectus, any more tokens cause in the opinion of the law firm CLLB to a significant loss in value of the EVN Token, since the proceeds from the ICO was distributed to a larger number of EVN Token””. In addition, the voices of those investors from the ICO explaining that they had not participated in the ICO of the Envion AG, did you know that in addition to the White Paper reported the number of EVN more tokens produced are Token.“
The accusation was fraud on the Prospectus. The investors did not know, therefore, that the painting of the Envion AG was only the facade, but in the Background other people were:
“would have So believed the investors to invest in the Envion AG in a reputable company. At a closer Look, out of place, but that all of the for the ICO key people in the Berlin Trado GmbH. The fact that the managing Director is Michael Luckow and this was listed in Berlin’s debtor register,“
reported verbraucherschutz.tv elsewhere. As it looks now, there is a (for investors is not necessarily satisfactory) solution to the problem: the Liquidation of the Envion AG.
Liquidation – A ICO is released on the
Both sides accuse each other, to have the corresponding ICO is not an economic test is passed. This organ shortage leads to the Swiss right now to a Liquidation. Accordingly, it is now in a Medium Post of the Trado GmbH:
“According to this decision, the Envion AG should not be liquidated, because the Chairman of the Board of Envion AG, Matthias Woestmann, fixed to a shortage of organs and a statutory auditor (auditor) in spite of a predetermined extension of the time limit had not used.”
This is the duty of the Envion AG then to disband. Because according to Swiss law, the company will remain during the period of Liquidation in its entirety to the right – and capacity to act. Their powers are however, limited to the extent that you are only allowed to perform actions in the sense of the Liquidation. So: the money to the investors to pay back. A refund of payments in crypto-currencies should follow, the due to the current Bitcoin rate, however, significant disadvantages for investors. The Zurich-based tages-Anzeiger:
it is reported “The Problem: The rates of crypto currencies collapsed. Envion has created the capital of the investors mostly in a relatively stable dollar. The money will be at the lower rate in the crypto-refundable currencies investors a double-digit million amount would be left behind.“
The damage to investors
The Swiss law now provides that in the event of a Liquidation, the investors will be compensated, but in Fiat money. although you have invested in the ICO with Bitcoin and Ether. Envion sold the crypto-currencies, however, last December – as the courses were known to be very much higher than it is today. This could buy Envion now cheap, and their investors (ent)damage.
Currently, there are about 40 verprellte investors, the lawsuits against Envion. How Istvan Cocron of CLLB Rechtsanwälte München against BTC-ECHO, will not be affected by the actions of the liquidation procedure:
“Through the Liquidation will not be affected, the damages claims against the Trado [GmbH] and further, if necessary, personally liable institutions. Claims against the Envion AG is now in the liquidation process is registered, we organize just for our clients and other investors from all over the world.“
In a blog post, suspected the Trado GmBH, however, Woestmann everything I have planned from long Hand. To do this, Cocron:
“The allegation against Mr is for me not really comprehensible, even if all of the Token-holder and, of course, the Management and founders are likely to benefit through their participation in the liquidation proceeds, in effect, to the detriment of the investors, and ICO investors of the Liquidation.”
And this, ultimately, is the crucial factor: compensation or not, the investors continue to get reamed on this one.
It shows up again: caution with ICOs.
