Italy’s high monetary regulator has declared Corsair Group unlawful nationwide.
CONSOB’s declaration follows complaints filed by Italian resident Corsair Group traders, who collectively misplaced €440,969 EUR.
This in flip prompted CONSOB to provoke discussions with Corsair Group and CEO Jussi Veikko Saloranta in July 2021.
These enquiries had been prompted by complaints filed by Italian Corsair Group
CONSOB ties Corsair Group to Italy by way of
the names of two residents of Italian nationality, outlined as “EXECUTIVE COORDINATORS for Italy”.
Corsair Group’s two Italian Govt Coordinators are Andrea Cerio and Roberto Frezza.
On social media, Andrea Cerio refers to himself as a “World Influencer”:
Roberto Frezza cites himself as “Head of Italy at Corsair Group Worldwide”:
CONSOB’s investigation supplies perception into Corsair Group’s convoluted shell firm funding scheme.
Socium Bangkok Firm Restricted – an organization primarily based in Thailand – issued an unspecified amount of shares in an effort to discover assets to finance the implementation of the “Bangkok” venture in Thailand.
The shares had been purchased by Socium Growth Firm Restricted, renamed Corsair Growth Firm Restricted, who then resold a part of the shares in query to the traders with whom it signed the contracts, gathering the sums paid by them.
Corsair Slovenia BV, renamed Corsair Slovakia BV, issued an unspecified variety of shares in an effort to discover assets to finance the implementation of the “Slovenia” venture.
The shares would have been subscribed by Corsair Europe Holding BV The latter then resold a part of the shares to the traders, gathering the sums paid by them with which it signed the contracts.
Mr. Jussi Veikko Saloranta seems within the share buy settlement regarding the “Bangkok” venture as ” Director and CEO” of Socium Growth Firm Restricted.
In relation to the “Slovenia” venture, Mr. Jussi Veikko Saloranta is the CEO of the businesses Corsair Slovenia BV (issuer of the shares) and of Corsair Europe Hoding BV (offeror of the shares).
Within the copy of the ” Certificates shares” – regarding the shares issued by Corsair Slovenia BV subscribed by the traders – it’s indicated that Mr. Jussi Veikko Saloranta is ” director of Corsair Group Worldwide”.
As a part of their communication with CONSOB, in August 2021 Corsair Group falsely said Corsair Group Worldwide “had not but been established”.
Corsair Growth Firm Restricted (previously Socium Growth Firm Restricted primarily based in Thailand) and Corsair Europe Holding BV (primarily based within the Netherlands) to which the web site corsairnow.com is linked, would subsequently have subscribed the issued shares, respectively, by Socium Bangkok Firm Restricted and Corsair Slovenia BV with a view to relocating them to the general public of savers by way of (not less than as regards the Italian market) distant communication methods similar to interplay by way of the web site corsairnow.com.
Lengthy story brief, Corsair Group pitched its fraudulent funding scheme to Italian traders. And so right here we’re.
Having confirmed Corsair Group is advertising and marketing an funding scheme, on January twenty eighth CONSOB concluded;
Corsair Group are usually not approved to supply funding providers.
(Corsair Group’s) operation in query is configured as knowledgeable train in direction of the Italian public of funding providers in violation of artwork. 18, paragraph 1, of the TUF.
As I perceive it, CONSOB has additional ordered Corsair Group’s web site be blocked in Italy.
Corsair Group has 60 days to enchantment the choice.
A go to to Corsair Group’s web site suggests visitors has collapsed. This might in flip counsel the chance itself has collapsed.
Corsair Group is what’s left of the Frank Ricketts’ failed Cloud Horizon Ponzi scheme.
Ricketts is at the moment on trial in Germany for OneCoin cash laundering offenses.