THE ENVION CAUSA: AUTHORITIES ALLEGEDLY ORDER LIQUIDATION

The Envion case, jurisdictions and courts

The German law firm CLLB represents several disappointed investors from the ENVION ICO. On 25 November 2018, CLLB partner Istvan COCRON published a status update on LinkedIn. According to insiders, the Swiss authorities have already decided to order the liquidation of ENVION AG. The reason for this is that no auditor was nominated. Allegedly, the report of the law firm GHR Rechtsanwälte AG, appointed by the Swiss Financial Market Supervisory Authority FINMA as the investigator, is also to be expected shortly.

In case the information turns out to be true, then ENVION is definitely reduced to a court base only. Any theoretical possibility of commencing business operations in the near future would have to be finally buried.


ENVION Liquidation As a Way Out

We have recently published a status report on the “ENVION Case” and included the corresponding file numbers in it. As expected, after several months of work by the various authorities involved, corresponding actions against ENVION AG as the issuer of the EVN tokens and the associated subordinated profit participation rights are expected to be taken soon. Even in the young crypto-scene without established regulatory frameworks ENVION is even a sort of black pearl. The German ICO is an example of how the ICOs may not be made and actors should not behave.

A few months ago FinTelegram already expressed the opinion that in view of the precarious situation at ENVION, an officially ordered and supervised liquidation would be in the very best interest for the ENVION ICO investors. It is obvious that the founders of the ENVION project around the Berlin-based TRADO GmbH and Michael LUCKOW have no intention to deliver the promised business. They focus on their ENVION shares and do not care too much about their ICO investors. On the other hand, the appointed ENVION CEO Matthias WOESTMANN does not seem to be in a position to drive up ENVION’s business. According to  statements by all those involved, WOESTMANN lacks the necessary business competence to do this. He had only been employed as frontman for the ICO. Furthermore, the Swiss ENVION AG does not have the necessary assets and funds to finally start with the crypto-mining business.

Conclusion #1:

Given the fight between the ENVION shareholders, the false prospectus along with misleading promises to ICO investors and the complex legal situation, it seems highly unlikely that ENVION could launch its business anytime soon. Hence, the liquidation of the EVN Token issuer ENVION AG seems to be in the very best interest of all ICO investors.

TRADO GmbH, Michael LUCKOW, and the Swiss ENVION AG have been represented by the Berlin law firm DWF. TRADO and/or LUCKOW have transferred many millions from the ENVION ICO to their own wallets and bank accounts. Most of ICO proceeds were exchanged for FIAT during the good times of the cryptocurrencies. According to various information in the files at the court and public prosecutor’s office, Michael LUCKOW and/or his TRADO GmbH are said to have received between EUR 10 and 17 million illegally. Although LUCKOW argues in court that TRADO also provided corresponding services for ENVION AG, in view of the non-existing assets and a never commenced business, payments in the millions cannot be justified before any judge in the world.

Conclusion #2:

ENVION obviously neither has assets nor know-how received. Hence, it doesn’t seem justifiable that TRADO GmbH and/or LUCKOW have kept millions of investors’ funds for alleged services in the first place. The funds should be returned to Envion and its ICO investors instead.

ENVION Causa and the Founders

LUCKOW and his team are definitely not the naive founders that WOESTMANN and his friends have been playing around with. In Michael LUCKOW‘s past, there are numerous companies and projects that extend as far as Asia. There are also insolvencies, lawsuits, and nested participations in this history. In total, many creditors have already fallen by the wayside in various bankruptcies and some court rulings and penalties have been pronounced. LUCKOW is an experienced entrepreneur and the ENVION ICO was just another of his projects. In view of his past, it is understandable that he did not want to be included  in the ENVION prospectus. Why the involved prospectus lawyers from DWF accepted this misrepresentation is beyond our understanding.

Rise Eco - Invest like a Billionaire
Rise Eco – Invest like a Billionaire

Most recently, Michael LUCKOW and his marketing guy Martin LAURENT attracted attention through their participation in the RISE ECO. Via the BerlinTechnologyGroup (BTG), they wanted to once again carry out an ICO via other frontmen and make it palatable to investors with the slogan “Invest like a Billionaire“. With Nikita FUCHS, the project also has the same responsible Smart Contract technician as ENVION (FinTelegram report here). As a reminder – investors accuse the ENVION founders of manipulating the Smart Contract to the detriment of the investors (FinTelegram report here). The RISE ICO was advertised in the social media as a “BaFin compliant” Token Sale without having any approved Prospectus – again misleading and overhyped marketing procedures. In the RISE ECO Telegram Group the law firm DWF was presented  as the one experienced law company, which is also doing the RISE ICO- yes, this is the LUCKOW law firm which also prepared and/or examined the ICO prospectus of ENVION. In the end, the RISE ECO ICO had to be postponed because the BaFin had problems with their agressive marketing and complained about the non exixtent “BaFin compliance”.

Conclusion #3:

Michael LUCKOW, Martin LAURENT, and their team are not the naive founders as they present themselves to their investors on social media channels. They are experienced entrepreneurs with an international track record and negative references when it comes to creditors and investors.

We will shortly publish a detailed article on the projects of the ENVION founding team. This is also to show that the PR strategy of the “innocent victims” currently pursued by the founding team is not correct. That said, we do not want to claim that the ENVION co-founder and now Matthias WOESTMANN is free of responsibility or guilt. On the contrary, as a member of ENVION AG’S board of directors and CEO, he is ultimately responsible for the false prospectus to the ICO investors. Moreover, he may have failed to meet its fiduciary obligations allowing TRADO and/or LUCKOW to withdraw funds from the ENVION ICO. But WOESTMANN is definitely not the sole perpetrator in this huge money destruction action. Investors should turn with their undoubtedly justified claims to all actors of the “ENVION project”.