envion AG: FINMA completed Enforcement procedure – what happens with the bankruptcy?

the The Swiss financial market Supervisory authority FINMA has concluded the Enforcement proceedings against the envion AG. Already in July, 2018 procedure initiated should investigate whether the approximately 100 million US-Dollar. ICO the envion AG violated the banking law. The resolution of the company behind 37.000 bruised investors. These are still waiting for a compensation.

By Christopher clover
28. March 2019BTC$4.033,06 0.43%part Facebook Twitter LinkedIn xing mail

About 90 million Swiss francs was the Initial Coin Offering for the Mining Start-ups envion the end of 2017. That was penny for the time in which the price of Bitcoin tight zumarschierte on the $ 20,000, a erkleckliches. What could not foresee the 37,000 investors, however: CEO Matthias Woestmann performed a non-agreed capital increase.As the Zurich-based daily reported indicator, it should be without any consultation with the donors, the Mr on 27. January of 2018, completed and hard-to-digest facts. This will have distorted the ownership in such a way that the envion-founder, had only 31 per cent of the shares – previously this percentage had been 81 per cent.

"Serious breach of Supervisory law,"

to conservationists, according to a lawsuit filed by consumer, unrealistic return promise on the part of the envion AG. Finally, the Swiss financial market Supervisory authority FINMA entered on the Plan. This envion introduced the issue of Securities without a required licence to own and sees it confirmed. According to a press release of FINMA dated 27. March:

It was found that the company, in the framework of an Initial Coin Offering (ICO) of a minimum of 37,000 investors had illegally taken deposits from the public in the amount of about 90 million francs, without financial market legal permit. The company was, therefore, illegal and violated the right of oversight difficult.

As FINMA also informs that would like to retain the authority ICOs, as before, reinforced in the view.

What will happen with the bankruptcy of the company, the bankruptcy office will decide in the Swiss Canton of Zug. This has not yet initiated during the FINMA investigation of bankruptcy or bankruptcy proceedings against envion AG. For the Injured party in the Case of envion AG, the bankruptcy office a point of contact has created.

UPDATE: In an original Version of this message was talk of an additional generation of the Token. In fact, there was a capital increase of the company, the ownership shares of the founders 'diluted'

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