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Investors of Envion – ICO still unsettled

Management Board of Envion AG contacts investors by email and lays accusations against the founders – CLLB Rechtsanwälte prepares lawsuits for investors of Envion AG

Berlin, Munich, July 5th 2018

Even though Envion has not reacted to the out-of-court letters of formal notice from investors of the ICO, CEO M.Woestmann again address the investors by e-mail on June 28, 2018 with a „letter to our Investors“. There, the accusations raised against the founders around the ICO are further intensified.

However, no redemptions are currently being made to investors.

In the email sent by Envion on 28.06.2018, CEO M.W. firstly declares that the BDO commissioned by him is still working on checking the ICO data. The results of the already completed audit of the BIG have been quoted in press releases, but have not yet been presented in full and have therefore not yet been reviewed by independent bodies. „The submission of the complete BIG Report would be necessary to create transparency,“ explains the law firm CLLB Rechtsanwälte, which represents several investors of Envion ICO.

The Executive Board of Envion AG repeats its accusations against the Founder Team by pointing out in its current email that the Smart Contract on which the token sale is based has been changed in violation of the prospectus.

In particular, the six-month lock-up period initially agreed (prohibition of sale within this period) was technically circumvented by changes to the Smart-Contract.

According to the Management Board, this change has made it possible to forward tokens to so-called „wallets“ within the lock-up period and then to distribute them further. The lock-up period had been expressly confirmed in the founders‘ own telegram channel. M.W: attached a screenshot to his email to the investors.

As already reported in the press, Matthias Woestmann, IT forensic expert of the Blockchain Intelligence Group (BIG) was commissioned by the Executive Board of Envion AG to investigate the processes surrounding the multi-produced tokens. According to the Executive Board of Envion AG, the allegations have now also been technically confirmed.

In recent days and weeks, a large number of investors affected by the Envion scandal have contacted the Munich and Berlin-based law firm CLLB Rechtsanwälte to have claims for damages against Envion AG and the persons responsible here examined.

Since the management of Envion AG has publicly acknowledged the accusations that EVN Token has produced more than one product in violation of the prospectus and that the Smart-Contract has been amended in violation of the prospectus, CLLB Rechtsanwälte cannot understand why the company does not respond to legal letters from its investors, explains attorney István Cocron, of the law firm CLLB.

The letter of Tuesday, June 19, 2018, addressed directly to the Executive Board of Envion AG, Matthias Wöstmann, this time at his private address in Berlin, has not yet been answered.

Investors at Envion should therefore check whether they may also be entitled to compensation claims. The Kanzlei CLLB of attorneys is beyond that grateful for all references and documents, which can be used for the further clearing-up.

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Über den Autor

István Cocron ist Spezialist im Bereich der Beratung von Start-Ups und Unternehmen, im Gesellschafts- und Kapitalanlagerecht sowie der Vertretung von Versicherungsnehmern. Er besitzt umfangreiche forensische Erfahrung und hat bereits etliche Großverfahren für Anleger und Verbraucher aus dem gesamten Bundesgebiet betreut. Rechtsanwalt Cocron beschäftigt sich zudem seit mehren Jahren mit den neuesten Entwicklungen aus dem Bereich der IT, insbesondere den Themen Blockchain und Cryptocurrencies. Er besitzt langjährige Erfahrung im Bereich der nationalen und internationalen Zwangsvollstreckung, ist Mitglied mehrerer Gläubigerausschüsse sowie nationaler und internationaler Vereinigungen von Juristen. Rechtsanwalt Cocron ist Gründungspartner der Kanzlei CLLB Rechtsanwälte.
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