Fact checking: Who or what is delaying the Envion liquidation?
Some people speculate that the liquidator is randomly delaying the process because he can rack up bills this way 👉🏻 fact is: he has to follow strict procedures, and he also has to make all cost and expenses transparent.
Another speculation is that civil lawsuits filed by investors have delaying effects on the liquidation 👉🏻 fact is: those lawsuits are between Trado GmbH and investors, they have no effect whatsoever on the timeline of the Envion liquidation. In fact, some of the findings from these lawsuits are accelerating the liquidation as they are forcing transparency.
Some people speculate that the liquidator is randomly delaying the process because he can rack up bills this way
fact is: he has to follow strict procedures, and he also has to make all cost and expenses transparent.
Another speculation is that civil lawsuits filed by investors have delaying effects on the liquidation
fact is: those lawsuits are between Trado GmbH and investors, they have no effect whatsoever on the timeline of the Envion liquidation. In fact, some of the findings from these lawsuits are accelerating the liquidation as they are forcing transparency.
So where is the delay actually coming from?
We see two people as main reasons
1. Cyrill Stäger
as former board member he rewarded himself (Trifft Management & Consulting GmbH) with around USD 578.225 (see Finma papers) in cash as a “ICO bonus”, but the FINMA investigation showed that this was without legal base. This has to be collected, potentially via lawsuit.
2. Michael Luckow
as the confirmed shadow CEO of Envion he had full access to all crypto wallets. Recently, in the context of investor lawsuits, he has confirmed — on the record — that:
a) he/Trado withheld crypto since ICO in the 6–10 millions CHF (at today’s prices, this would be worth even more)
b) he/Trado sold most or all of this withheld crypto late 2018 to cover “a part” (!) of Trado’s/Founder’s “expenses” (whatever those are — he still refuses to provide any transparency)
c) he also filed claims in the liquidation for additional “expenses”
The embezzled investor crypto (or rather the millions in FIAT proceeds) now have to be collected by the liquidator, most likely via lawsuit, as ML continues to refuse to return it to the liquidation estate.
All of this, especially 2., will delay the completion of the liquidation by months, if not years.
The German sentence in red translated (to say it clearly and plainly):
“the funds were changed into euros in November 2018 and were used accordingly”
Once again, Luckow has been caught with both hands in the cookie jar, using funds owned solely by investors to personally benefit himself. He is delaying on all fronts. This fits in well into a pattern of illegal actions and it is the sole responsibility of the liquidation to stop this and secure the money of the rightful owners: the Envion investors.
Michael Luckow (ML) / Trado GmbH rap sheet:
1. Trado / ML intentionally changed the smart contract during ICO to benefit from loopholes
2. Trado / ML intentionally and delayed and withheld information about critical problems after ICO
3. Trado / ML intentionally sold millions of EVN founder tokens right after ICO (and during lock-up, using the previously created loophole in the smart contract) to unsuspecting buyers to benefit financially and to cover “expenses”, all while knowing the project was fatally flawed
4. Trado / ML intentionally and illegally held investor crypto worth millions of CHF hostage to use it as leverage in a purely internal shareholder conflict
5. Trado / ML secretly and illegally sold this investor owned crypto in 2018, again to “cover expenses” (!)
6. Trado / ML intentionally withheld ICO data to Envion, Finma and liquidator to delay proceedings and cover his/their tracks
7. Trado / ML intentionally mislead investors with LUP in a desperate attempt to fix the mess he has created for him/themselves, further putting investors at risk
8. Trado / ML broke German data protection laws by misusing Envion’s email database to push LUP
Trado / ML
a long rap sheet of illegal and criminal actions to gain financial advantage at the expense of the investors
Patience and confidence is what we still need. But we’re getting closer