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Scandal at Envion AG

Deadline to respond expires without success – CLLB Rechtsanwälte prepare first lawsuits against Envion AG and other responsible persons

Berlin, Munich, 19.06.2018

As already reported in the press, the Executive Board of Envion AG, Matthias Woestmann, commissioned forensic IT experts Blockchain Intelligence Group (BIG), to investigate the circumstances surrounding the 40 million extra tokens produced. According to the board of Envion AG, the allegations have now been confirmed technically.

At the end of February 2018, the Envion AG Executive Board became aware that, in addition to the 100 million EVN tokens planned in the white paper, around 40 million additional „illegal“ tokens were generated without informing investors. Of these, apparently in excess of 20 million tokens were sold on crypto trading exchanges and thereby converted to cash. Investors have now informed CLLB that they would not have acquired EVN, if they had known that „behind their backs“ another 40 million tokens were being produced, which had the effect of diluting the market value of EVN tokens.

Now a recent and extensive technical analysis of the ICO, performed by experts from BIG in Canada, is available. The allegations of the investors have been confirmed by BIG.

In recent days and weeks, a large number of investors affected by the Envion scandal have reported to CLLB Rechtsanwälte, a Munich and Berlin-based law firm, to have their claims for compensation assessed against Envion AG and the persons responsible there.

In its letter of 04.06.2018, CLLB requested on behalf of its clients that Envion AG, among other things, pay back the capital supplied by investors to Envion AG, incrementally, against return of the received EVN tokens.

Envion AG was set a deadline of Friday 15.06.2018 to respond.

„So far we have not received any response to our letter of formal notice, despite the deadline,“ explains CLLB. Therefore, we will now, according to the mandate of our clients, prepare payment claims against Envion AG and other persons in charge,“ continues CLLB.

Since the allegations concerning the EVN token’s infringement of the prospectus have been publicly admitted by Envion AG management, CLLB cannot understand why the company declines to respond to legal letters from its investors, explains Attorney at Law István Cocron, of the law firm CLLB.

Once again CLLB contacted the Executive Board of Envion AG, Matthias Wöstmann, on behalf of a number of its investors in a letter dated today, 19.06.2018, this time at his residential address in Berlin.

At the same time, CLLB is currently evaluating all documents from the Telegram groups of EVN investors and other publicly available posts and reports in order to further complete the claim that is already in progress. If in the future Envion AG refuses to deal with its investors out of court, corresponding lawsuits seem inevitable in order to clarify the already existing scandal.

Insofar as ENVION AG and any other responsible parties are obliged to pay damages by the presiding court, they must also reimburse fully the legal fees and court costs incurred by the investors, the CLLB Rechtsanwälte team explained further.

Investors in Envion should therefore check whether they may also be entitled to compensation. The law firm CLLB Rechtsanwälte is also grateful for all information and documents that can be used for further clarification of the matter.

 

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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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