Euro-Gic Asset Management Inc. - BaFin warning

The ostensible asset management company Euro-Gic Asset Management poses as a safe player for investment advice. However, there is increasing information that everything at Euro-Gic is by no means straightforward. More and more investors are reporting telephone terror, rip-offs and investment fraud at Euro-Gic. All of them have lost the capital they invested with Euro-Gic. All Euro-Gic investors are asking themselves whether they have become victims of investment fraudsters? And what can Euro-Gic investors do if the suspicion of investment fraud is substantiated? Will Euro-Gic investors get their money back? Does it make sense to file a criminal complaint against Euro-Gic with the police? What help is available in the case of investment fraud?



Euro-Gic: Dubious promises on!
What must the perplexed prospective clients read on the Euro-Gic website? "Euro-Gic is a globally active asset manager and has been active in Europe for over 25 years. Our claim: to support more and more people in their financial provision. No matter what your goals are, your interests are always at the centre of what we do. Around the world, Euro-Gic's clients include institutions, financial professionals and private investors. From workers and employees in small businesses to non-profit associations and large corporations, Euro-Gic has been enabling its clients to participate in economic growth through easy access to investment markets for 25 years. Our purpose is to help more and more people achieve financial well-being. In doing so, we pay attention to long-term sustainability in all our fields of activity. Not only that their environmental, social and governance (ESG) principles are deeply embedded in our investment strategies." This is just a small selection of the implausible promises that investors find on Euro-Gic's website. Not one of these lofty assurances by Euro-Gic has been kept. Unfortunately, the suspicious business practices tend to make for unhappy investors and bad experiences!


Euro-Gic Asset Management: What is a GIC?
A guaranteed investment contract 
 - GIC) is an agreement between an investor and an insurance company. The insurer guarantees the investor a return in return for holding the deposit for a specified period of time. Investors attracted to GICs are often looking for a substitute for a savings account government bonds.


Euro-Gic: Hide-and-seek game with the domain entry!
Remarkable for the business practices of the Euro-Gic makers is that the website does not contain an imprint. Thus, the complete information on the legally responsible operators of the website is missing. If one takes a look at the domain data of the Euro-Gic website, there are no references to the operators. However, one learns that the domain was only registered on 18.03.2021 with, LLC and that the real domain owners are hidden behind a registrant from the Turkish northern part of Cyprus.


Euro-Gic: Who is behind it?
Many investors will find it rather difficult to answer this question, as the Euro-Gic makers do everything they can to conceal the true circumstances. This is not unusual, however, as the perpetrators often operate several of these websites with the supposedly same business model and quickly put them online, but also shut them down again just as quickly. In many cases, the top-level domain is also frequently changed, possibly in order to deceive the financial supervisory and law enforcement authorities. And who is the operator? On the website, the following information can be found in the imprint:
●    Headquarters: Euro-Gic Asset Management Inc.
●    Boulevard Roi Albert II 35, 1030 Schaerbeek, Belgium
●    +49 (0) 711 967 43 136
●    Branch office: Euro-GIC Business & Office Center Management GmbH
●    Esslinger Str. 7,70771 Leinfelden-Echterdingen, Germany
However, a closer examination of this information leads to the conclusion that Euro-Gic Asset Management Inc. is neither located at Boulevard Roi Albert II 35 in Belgium, nor at Esslinger Str. 7 in Leinfelden-Echterdingen. 


Euro-Gic: BaFin warning
With such dubious activities, it is not surprising that BaFin has already taken notice and issued the following warning on 11.11.2021: "Pursuant to Section 37 (4) of the German Banking Act (KWG), BaFin clarifies that neither Euro-GIC Business & Office Center Management GmbH, alleged registered office Esslinger Straße 7, 70771 Leinfelden-Echterdingen, nor Euro-Gic Asset Management Inc, allegedly located at 35 Boulevard Roi Albert II, 1030 Schaerbeck, Belgium, or Kidman Partners Ltd, allegedly located at 10 Upper Bank St, London, United Kingdom, have a licence pursuant to the German Banking Act (KWG) to conduct banking business or provide financial services. The companies are not supervised by BaFin. Companies offering shares of other companies for sale to consumers require a licence from BaFin for this purpose. This also applies to pre-traded shares. Information on whether a particular company has such a permit can be found in the company database. Also, the securities prospectus required for such a public offer is not available. You can check whether an approved prospectus has been filed with BaFin for a public offer of securities in the database Deposited Prospectuses. Both Daimler AG and BaFin have been pointing out since the end of August 2021 that pre-IPO offers to purchase shares in Daimler Truck Holding AG (DTHAG) are unlawful and originate neither from Daimler AG nor from Daimler subsidiaries. A fraud scam in which the purchase price for the shares offered on the phone is accepted but the securities are never delivered has been warned about for several years."


Euro-Gic: Investment fraud - Acquisition
In order to attract new investors, Euro-Gic's offers are promoted in all conceivable media and channels. Most of the time, these recommendations are misinformation. they upload image films on Youtube or Vimeo in which interested investors are convinced with invented references. With the same goal, an affiliate programme is usually started to motivate others to beat the advertising drum for Euro-Gic.


Euro-Gic: Criminal business practices
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their many years of experience and their satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Investors usually start with a small amount of money. Beforehand, investors are often motivated to install remote maintenance software, such as "AnyDesk" or "TeamViewer", on their computers so that they can supposedly receive help with the first steps. In many cases, the computer is manipulated afterwards and unwanted transactions are carried out. In the process, the investment fraudsters often also gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. Sometimes even small sums are paid back to lull investors into a sense of security. Who then does not want to increase the stakes further? But what happens next?


Euro-Gic: Repayment of the money will be subject to conditions
Once in, it is usually impossible to get out. Rather, the administrators of the investment scams tie a repayment of the money to further deposits. This is where employees come into play who claim alleged tax debts and commission payments. If these are settled, the alleged profits are paid out. The perpetrators send investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. It is never possible to offset them against the alleged profits. If an investor refuses to make further deposits, supposed profits are turned into losses through senseless transactions and the client is damaged to the maximum. The horror does not end there, but investors are permanently confronted with calls from other dubious providers. This indicates that the investors' contact details are traded on among the investment fraudsters. In the end, a "saviour" regularly calls claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course the "rescuer" also wants a small fee - in advance!


Euro-Gic: Scheme of Investment Fraud?
There is no authorisation of the investment adviser Euro-Gic. Euro-Gic lacks authorisation by a recognised European supervisory authority, such as the English Financial Conduct Authority (FCA)or the Cyprus Securities and Exchange Commission (CySec), which is frequently used by brokers. Similarly, there is no authorization from the Swiss Federal Financial Supervisory Authority (finma) or the  Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. For this, there is the warning from BaFin quoted above. It is also obvious that Euro-Gic is a scheme of capital investment fraud. All those harmed by Euro-Gic are advised to consult an investment fraud lawyer as soon as possible.


Euro-Gic: Where are the investment fraudsters active?
Unfortunately, Euro-Gic's illegal activities are not limited to the English-speaking world. Because Euro-Gic also addresses German-speaking investors, it is only a matter of time before the defrauded investors of this speaker group also come forward. Going through the list of supervisory authorities is recommended before any financial commitment in order to reduce the risk of becoming a victim of investment fraud.


Euro-Gic: Investors want their money back!
The constellation is by no means as hopeless as it seems. The victims can take countermeasures and demand the return of their invested capital. As of today, it is not likely that the Euro-Gic investment fraudsters will be caught in the near future, but there is nevertheless reason to hope. The reason for this is the fact that the money transactions took place via accounts provided by reputable financial institutions. Their managers undoubtedly failed to check the investors' deposits, some of which were large and therefore subject to controls, and their onward transfer for illegality. These omissions made the investment fraud possible in the first place.


Euro-Gic: They want their money back! How does it work?
Equipped with this knowledge, no one would have got involved in business with Euro-Gic. Now the only way left for the deceived is to seek compensation. Many investors cannot even imagine that there is a real chance of ever seeing their money again. Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering". When investment fraudsters collect money, the offence of money laundering has been committed. Financial institutions are obliged to take action against money laundering. This is where one starts with good chances of success. First of all, essential questions must be answered. Where did the funds moved by Euro-Gic go? Can investors somehow get back the capital they invested with Euro-Gic? What steps are advisable from now on? A lawyer specialised in investment fraud will be happy to answer such questions thoroughly.


Euro-Gic: Who can help?
What to do in case of investment fraud? What help can the victims of xxx hope for in the case of investment fraud? Victims of xxx will ideally find the help they need from an experienced investment fraud lawyer. He is able to take care of your case with xxx both in terms of the criminal aspects of investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading also comes into question because he is also familiar with the methods of fraudulent brokers such as xxx.


Euro-Gic: Follow the money trail!
The internationally active investor protection law firm Resch Rechtsanwälte has been pursuing such abuses on the non-regulated capital market for more than three decades. Seen in this light, Euro-Gic's approach is nothing new. Over the years, Resch Rechtsanwälte has developed a strong set of instruments for tracking down the sums of money that have been set aside and tracing the money flows. Making money disappear has become extremely difficult in the age of the Internet. The sooner investors follow the money trail, the more likely they are to get their invested capital back. Now it is important that the investors who have been harmed by Euro-Gic take immediate action.


RESCH Rechtsanwälte - Experience in investor protection since 1986
If you have been a victim of Euro-Gic and want to know if and how you can get your money back, call +49 30 885 9770 or fill in the questionnaire. You will receive a free assessment of your case.