The Court Cases around envion AG And Its Founders

Law enforecment Law enforcement

Since the beginning of our envion EFRI initiative and in the interest of the many token holders who have entrusted us with the collection of their receivables in the meantime, we have been diving deep into the envion token sale details. It is becoming more and more obvious that the project initiators either grossly negligent or deliberately constructed a situation that is quite difficult to be figured out from a legal point of view. So we are sure that the envion token sale will continue to occupy the German and probably also the Swiss courts for years to come.

According to our knowledge, the following proceedings are currently pending in the TRADO GmbH and envion AG case:

Regulatory Procedures

July 19, 2018 Dismissal of Board The Swiss supervisory authority FINMA has dismissed the Board of Envion AG and replaced it with an official administrator (GHR Rechtsanwälte AG).
July 26, 2018 Investigative Procedures The Swiss supervisory authority FINMA initiated a supervisory investigation pursuant to Article 30 FINMAG against the persons responsible at envion AG due to suspicion of a violation of Swiss financial market law in the execution of the token sale in December-January 2018. In particular, the proceedings focus on possible violations of Swiss banking law due to a possible unauthorised acceptance of public deposits in connection with the Initial Coin Offering (ICO) of the EVN token.
Complaints filed with German BaFin Various complaints from ENVION ICO investors have been received by the German financial market supervisory authority BaFin. At present no status of the investigations is known.

Liquidation Procedures

November 14, 2018 Bankruptcy Court Zug By decision of the Bankruptcy Court of the Canton of Zug, Envion AG, Baar is dissolved in accordance with Art. 731b of the Swiss Code of Obligations and its liquidation is ordered in accordance with the regulations on bankruptcy.

Pending Civil Court Cases

We do not know the current status of the respective processes in detail and are grateful for any information.

Court File; AZ 90 O 38/18 Landesgericht Berlin Trado GmbH vs. Quadrat Capital GmbH/Matthias Woestmann in connection with the capital increase of Envion AG by Quadrat Capital GmbH.
Court File: currently unknown Landesgericht Berlin ENVION AG vs. TRADO GmbH for unlawful withholding of investor funds.
Court File: currently unknown Landesgericht Berlin Lawsuit of ENVION ICO investors vs. Trado GmbH and ENVION AG of 24. 9. 2018 Reasons for claim: Prospectus liability, manipulation of the Smart Contract.

Pending Criminal Cases

Court File: 257 JS 305/18 Prosecurors’ Office Berlin Multiple misrepresentation and deliberate immoral damage brought in by CLLB on behalf of an investor against the acting persons of Trado GmbH and Envion AG
Court File: 257 Js 665/18 Prosecutors’ Office Berlin Criminal complaint regarding embezzlement of investor funds: Funds from investors for whom the KYC or accreditation check failed were withheld without justification. Furthermore, despite repeated calls, many investors did not receive their tokens at their economic disposal (PIN for activation has not yet been transmitted).
Court File: currently unknown
Prosecutors’ Office Berlin
Matthias Woestmann has filed a criminal complaint against the Trado Gmbh founder team around the managing director of the defendant, Michael Luckow, charging them for illegal production of surplus EVN tokens.
Court File: currently unknown The legal representatives of envion AG have filed a criminal complaint against the legal representatives of Trado GmbH, the Berlin law firm DWF for betrayal of secrets and the violation of the principle that conflicting interests should not be allowed, and for this reason Trado GmbH’s legal representatives should be dismissed by the court. Background: DWF GmbH, Berlin provided legal advice to Envion AG on the Tokensale.

Please let us know if you have additional information on ongoing procedures.

Subsequently, we want to deal with the allegations in the individual proceedings in separate contributions over the next few days.