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Cointed still under pressure

Another search of the public prosecutor’s office in Vienna, search for new investors for Cointed probably difficult, investors are concerned

Munich, Berlin August 2, 2018: The Austrian start-up Cointed is still under pressure.

Only on Tuesday of last week, the Austrian Public Prosecutor for Economics and Corruption conducted another search of the premises of Cointed GmbH in Vienna. Among other things, several hard disks were confiscated.

Since the beginning of the year, the Austrian public prosecutor’s office has been investigating Cointed on suspicions of serious commercial fraud, the operation of a chain letter and pyramid game and the violation of the prospectus requirement in connection with the ICO of the start-up.

As CLLB Rechtsanwälte already reported, one of the founders of Cointed was also involved in the fraud at Optioment, in which more than 10,000 investors were cheated by around 85 million euros with a pyramid game. Suspicion of embezzlement was now added via the Vienna public prosecutor’s Office.

For weeks now, Cointed customers can no longer access their accounts on the Exchange Portal.

Since then, there has been a suspicion that Cointed is insolvent and the founders have taken the money away from their customers – a view that is now probably shared by the Austrian public prosecutor’s office according to press reports.

On July 16, 2018, the current CEO of Cointed, Mr. Wolfgang Thaler, spoke up via YouTube video and announced that he was currently in China looking for new investors who wanted to take over Cointed and save the Company.

However, the video itself is very vague, no concrete statements are made.

Whether Mr. Thaler is really looking for new investors for Cointed can only be guessed at the moment. What is certain, however, is that both Cointed’s clients and the investors who invested in Cointed’s ICO have to fear for their Money.

CLLB Attorneys at Law represents numerous clients and investors of Cointed and helps them to enforce their claims against the company and those responsible. First lawsuits have already been filed against Cointed.

Investors concerned should have their legal claims examined by a specialist lawyer for capital market law. The Kanzlei CLLB supports concerned investors with the penetration of their requirements.

 


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