The ENVION liquidation, in conjunction with our EFRI campaign, has brought some new and massive complaints from ICO investors. These increasingly give the impression of intentional violation of the law and agreements. These new allegations include
- funds have not been repaid to
- violation of U.S. securities laws and the terms of the EVN subscription form
No Refunds to ICO Investors
Some investors who have deposited several hundred thousand dollars in the course of the
The correspondence between
These rejected investors neither received EVN tokens nor a refund of their money. And this despite multiple promises and the availability of funds.
Conclusion II: In the course of ENVION’s liquidation there are not only EVN token owners but also ICO investors without EVN tokens to whom ENVION AG and/or TRADO GmbH owe money.
Violation of the US Securities Act
It has also come to light that many US investors have been accepted by ENVION without being “accredited investors” within the meaning of Directive 501(a) of Regulation D of the U.S. Securities Act of 1933. These investors were excluded from investment under US law but also under the provisions of the EVN Subscription Form. For the purposes of the KYC/AML audit, the investors had to declare their address and could, therefore, be identified by the ENVION ICO team.
Nevertheless, ENVION has accepted these US investors with knowledge of their inadmissibility. This, in turn, makes ENVION a case for the SEC and US securities laws. The US investors we identified during the EFRI campaign so far see themselves as non-accredited retail investors.
According to our information, Martin LAURENT is a US citizen and is therefore subject to US jurisdiction. After consultation with our legal advisors, this also results in the competence of the U.S. SEC for the activities of Martin LAURENT and ENVION for their ICO.
Conclusion III: ENVION AG and TRADO GmbH have accepted non-accredited US investors contrary to the legal provisions and the terms specified in the EVN subscription form. Since Martin LAURENT is also a US citizen and was a leading member of the ICO team, we believe that ENVION ICO also falls within the competence of U.S. authorities such as the SEC. Allegedly, corresponding complaints have already been filed with the SEC.
Questions regarding the handling of the ENVION liquidation or the registration of claims (with or without EVN token) can be asked or submitted via the website of the EFRI Funds Recovery Campaign for ENVION: