Piccor

from Wikipedia, the free encyclopedia
Piccor AG
legal form Stock company , until 2009 GmbH
founding August 17, 2005
resolution January 11, 2019
Reason for dissolution In liquidation by judicial arrangement
Seat Baar (Switzerland)
management Peter Züllig (retired in 2018)
Branch Creation of financial market analyzes, development of software-supported allocation and management strategies for stock market data

The Piccor AG is a financial services company from Switzerland. It is a member of the "PICAM group of companies", which also includes Picam GmbH and Varian DC Service GmbH and other financial service providers. Defensive Capital GmbH has been the liability umbrella for financial market brokers and their products since the end of March 2017.

history

The Swiss Piccor AG offered capital investors from Germany asset management with apparently lucrative financial futures . The potential investors were offered different models through financial brokers, each of which promised above-average returns. In March 2017, the company announced that it had "discontinued its service for private customers due to external circumstances". She terminated all existing business relationships. At the same time, the “Picam Unternehmensverbund” was now offering the existing investors a new, supposedly “ bank-regulated product” to which the deposits should be transferred.

  • A speculative model that promised a very high return, but included the risk of a possible total loss.
  • A “secure model” in which only part of the capital should be invested speculatively, but the rest should be invested in secure investments.

The providers of the Picam had advertised that "since 1997 gross returns of more than nine percent have been generated annually", even in times of the financial crisis. Payouts were delayed for both models and the Varian Group, which had already worked with Piccor AG, was added as a partner.

The sums of money were initially paid into the account of the auditor and honorary judge at the regional court in Berlin , Manfred Eschenbach. Piccor AG assumed the role of processing customer contracts. Varian AG in Liechtenstein should then actively take care of trading DAX futures. The financial products were not approved by the Federal Financial Supervisory Authority (BaFin).

Picam group of companies

The Picam group of companies with the Pi-symbol.svglogo in the logo includes the following partners and associated service providers. The official website www.picam.deis empty.

  • Picam GmbH, Pascal Savelsbergh, Berlin
  • Procaveo-INVEST GmbH, Berlin, as an agent for Piccor AG
  • Piccor AG, Baar, Canton of Zug, sole member of the Board of Directors (until September 11, 2018): Peter Züllig
  • Swiss Finance Group AG, Baar, Canton Zug, Switzerland, Board of Directors: Peter Züllig, Thomas Entzeroth.
  • SwissPro GmbH (Pro Swiss Marketinggesellschaft mbH), Managing Director Gabriela Laub, Baar, Canton Zug, Switzerland
  • PROPEC Gesellschaft für Analytische Wirtschaftsberatung mbH, Managing Director: Andreas Riedel, Berlin, Hamburg
  • Cura Helvetica - Das Stiftungskontor, Thomas Weilacher, Berlin
  • Varian AG, Thomas Entzeroth, Liechtenstein
  • Varian DC Service GmbH, Martina Schiefner, Berlin
  • Varian Defensive Capital GmbH, as a liability umbrella partner for the distribution of the Piccox Securitization SA bond in Luxembourg (ISIN: DE000A19CXZ0)
  • Piccox Securitization SA, Stephan Blohm, Member of the Board of Directors, Luxembourg
  • Moventum SCA, Luxembourg, asset management and sales, custody account management for the Piccox Securitization bond
  • Trustee and auditor Manfred Eschenbach, Berlin
  • PiKonstant: Investment fund "CROWD - pikonstant A" ISIN # LU1300284111
  • Finbox Consulting AG, Hünenberg ZG , since 2015
  • Salbapi SL, Son Severa, Mallorca , since 2014

Suspected fraud

First concerns about the investment practice and compliance with the high returns promised there was already mid-year 2016. In January 2017, the suspicion arose that the Piccor AG and PICAM GmbH on a large scale an investment fraud after the Ponzi scheme run. A total of up to 3,000 investors are said to have invested around 300 million euros. In mid-January 2017, the Swiss financial regulator Finma put Piccor AG on their warning list. Companies are listed there that do not have a license from the authorities or that research at Finma “suggests a significant risk to investors from providers”.

The public prosecutor's office in Berlin is now investigating suspected gang fraud. During raids based on a search warrant by the Tiergarten District Court in February 2018, numerous documents, computers and cell phones as well as assets amounting to 80 were found in the residential and business premises of the seven responsible persons of the Picam group of companies in Berlin, Leipzig, Munich and Baar (Switzerland) Million euros confiscated.

For affected investors, a “community of interests of Picam investors” was founded in 2018 by the protective association of capital investors. A Berlin lawyer draws attention to the fact that some alleged "protection associations" are often founded by the previous sales companies or individuals in order to conceal the liability of these salespeople for their wrong advice or other contexts and to prevent clarification.

A meeting of creditors set up by the Charlottenburg District Court at the beginning of October 2018 showed that there is only a minimum amount under the Picam label, nothing can be obtained here for injured parties. A "creditors' committee" was established under bankruptcy law. The commissioned insolvency administrator Sebastian Lagoda aims to inform all insolvency courts dealing with the various front companies of the fraud system at different locations in Germany, Switzerland and other countries about the system in order to achieve the most comprehensive possible overall insolvency of the fraud complex.

Investors and intermediaries

The financial products of Picam / Piccor were offered and sold mainly in Germany by around 70 financial brokers. They were interrogated as witnesses by the police. You are accused of lack of care by lawyers in the necessary examination of the investments , but not by the authorities, as many of the intermediaries are also injured. The investors could have claims for damages against the intermediaries and sales service providers . The intermediaries were lured by submitting alleged original statements from the trading account of Piccor AG at Interactive Brokers, Zurich, alleged original customer account statements, through decisions of local courts that the investment in Piccor / Picam was safe and other documents.

Distributed alleged profits could in the event of insolvency of the o. G. Companies (this does not affect the intermediaries) are reclaimed from investors as fictitious profits if the business model turns out to be a dubious pyramid scheme.

In May 2019, a first judgment was issued in the first instance against an intermediary for the Picam papers. A broker from Issum , who brokered dozens of investors, was sentenced by the Kleve district court to pay damages to a defrauded investor because the documents presented to her before the investment were inadequate. As an alleged expert, he should have noticed, the court ruled. Among other things, there were graphics in advertising with success reports that referred to years when the Picam did not even exist.

literature

  • Lars-Marten Nagel: High-risk facility. 20 percent return? Picam is that serious . In: Die Welt Online . July 7, 2016 ( welt.de [accessed February 13, 2018]).
  • Thomas Bremer: Piccor AG scandal . In: Saturday newspaper . February 10, 2018 ( samstag-zeitung.de ).

Web links

Individual evidence

  1. ↑ Piccor AG. Commercial registry office of the Canton of Zug, accessed on February 13, 2018 .
  2. ↑ SHAB , KABZG January 11, 2019.
  3. ↑ PICAM Group / Piccor AG / VARIAN AG / BDO AG Liechtenstein. Consumer Protection Forum.berlin, January 11, 2018, accessed on February 13, 2017 .
  4. ↑ Thomas Entzeroth on the PICAM group of companies. In: Consumer Protection Forum.berlin. 2018, accessed February 13, 2018 .
  5. ↑ a b Picam investors worried. The big game of confusion . In: Handelsblatt . January 17, 2018 ( handelsblatt.com - fee-based access).
  6. ↑ a b Picam GmbH: Piccor AG replacement product again Varian. gomopa.net, December 22, 2017, accessed February 13, 2018 .
  7. ↑ Piccor AG scandal and auditors Manfred Eschenbach. In: Consumer Protection Forum.berlin. February 6, 2018, accessed February 13, 2018 .
  8. ↑ PICAM ++ the incredible story of PICCOR VARIAN LIT Ltd. resch-rechtsanwaelte.de, January 26, 2018, accessed on February 14, 2018 .
  9. ↑ PICAM - Welcome. picam.de, accessed on February 13, 2018 .
  10. ↑ Article about Pascal Savelsbergh: Completely wrong connections. In: Financial News and Economy News. wirtschaft.pr-gateway.de, accessed on February 14, 2018 .
  11. ↑ The Zuger Zeitung is of the opinion that, with his resignation, the Canton of Zug will have to go bankrupt if the only Piccor shareholder known to the newspaper does not appoint a new board of directors soon. ( interessengemeinschaft-picam-piccor-anleger.de )
    For Züllig and the further procedure in Switzerland, see also the Luzerner Zeitung : Suspected fraud: Baar trustee draws consequences. September 26, 2018.
    For one week in November 2018, the Swiss Financial Market Supervisory Authority FINMA appointed a lawyer, Tatjana von Kameke, ex officio to investigate Piccor. This contract was withdrawn on November 16. SHAB 223, November 16, 2018; Daily register 16064, November 13, 2018; Message number: HR02-1004499430 (see easymonitoring.ch )
  12. ↑ Swiss Finance Group AG. Commercial Register Office of the Canton of Zug, December 19, 2017, accessed on February 13, 2018 . The Swiss Financial Market Supervisory Authority FINMA appointed the lawyer Tatjana von Kameke as an investigator in the law firm Reber Rechtsanwälte KlG, Utoquai 43, PO Box, 8008 Zurich, in a super-provisional order dated October 19, 2018. It is empowered to act alone in place of the organs for society. It represents the company with its authorized signatories. The previous organs are prohibited from undertaking further legal acts without the consent of the investigator. - Commercial register canton Zug, November 2018 - FINMA Entzeroth is thus deprived of power. Compare the difference to Piccor, where v. Kameke only worked for 1 week.
  13. ↑ Certificates. finanzen.net, accessed on February 13, 2018 (issue volume: 300,000,000 euros).
  14. ↑ A Piccox website was still active in October 2018. The price quotations ended in February 2018 ( piccox.com ).
  15. ↑ end of November 2018
  16. ↑ zg.chregister.ch
  17. ↑ infoempresa.com
  18. ↑ Piccor AG. Swiss Financial Market Supervisory Authority Finma, January 16, 2017, accessed on February 13, 2018 .
  19. ↑ Picam GmbH / PICCOR AG: Raid due to gang fraud allegation with Piccor and Piccox certificates. gomopa.net, February 8, 2018, accessed February 13, 2018 .
  20. ↑ Picam: SdK organizes the “Picam” interest group. In: sdk.org. Retrieved February 13, 2018 .
  21. ↑ Behind some interest groups are the PICAM sales people and investment advisors ( PICAM PICCOR - interest group protects brokers. July 10, 2018).
  22. ↑ Press release: PICAM creditors' meeting on October 2nd, 2018. October 7, 2018.
  23. ↑ PICAM PICCOR ++ We come full circle ++ Insolvency threatens. In: resch-rechtsanwaelte.de. Retrieved February 16, 2018 .
  24. ^ Press release from a law firm in Düsseldorf