Envion AG: Disputed capital increase is in accordance with Swiss law
BDO auditors present findings of legal analysis
The Swiss office of the globally operating auditors BDO has assessed the capital
increase by Envion AG, domiciled in the Canton of Zug, as being in
compliance with the law. This has been established by the preliminary findings of a comprehensive audit.
Accusations on the part of a group associated with Berlin start-up
founder Michael Luckow were consequently proven to be unsubstantiated and were
also likely to have been initiated with the intention of distracting from the spectacular
disclosures about manipulations during the course of the Envion ICO.
The Envion ICO, which took place between December 2017 and January 2018,
exceeded all expectations and is considered one of the most successful
crowdfunding campaigns in recent history. 86 million tokens with a nominal value of
USD 1 were authorized for global sale.
The company Trado GmbH, under Managing Director Michael Luckow, was
commissioned with the technical implementation of the Envion ICO.
But already in late February 2018, suspicions arose that more than 20 million
tokens more than authorized by the prospectus had been created and distributed.
A part of these digital shares were sold on crypto-exchanges. Subsequently,
Woestmann and his lawyer Thomas van Aubel took over the majority of Envion AG
as the result of a capital increase, to protect the investor assets amassed from
being accessed by Michael Luckow.
The business newspaper Handelsblatt published an article on May 28, 2018 under
the title "Crypto start-up Envion searches for lost millions".
A German lawsuit, which was initiated by Michael Luckow's Trado GmbH in an attempt to bring a case against Envion's capital increase, will soon be tried in a court of law.
About Envion AG:
Envion is a German-Swiss technology company that has developed an energy-efficient solution for creating crypto currencies, so-called crypto mining. The core of the concept focuses on container-based Mobile Mining Units (MMUs) which can be deployed flexibly and decentrally on site at reduced energy costs and managed per remote control. The Envion AG Board of Directors is currently unable to access the www.envion.org website along with the e-mail addresses for this domain. Until access has been restored, please use our authorized address www.envion-recovery.org.