Italy’s top financial regulator has declared Corsair Group illegal nationwide.
CONSOB’s declaration follows complaints filed by Italian resident Corsair Group investors, who together lost €440,969 EUR.
This in turn prompted CONSOB to initiate discussions with Corsair Group and CEO Jussi Veikko Saloranta in July 2021.
Those enquiries were prompted by complaints filed by Italian Corsair Group
CONSOB ties Corsair Group to Italy through
the names of two citizens of Italian nationality, defined as “EXECUTIVE COORDINATORS for Italy”.
Corsair Group’s two Italian Executive Coordinators are Andrea Cerio and Roberto Frezza.
On social media, Andrea Cerio refers to himself as a “Global Influencer”:
Roberto Frezza cites himself as “Head of Italy at Corsair Group International”:
CONSOB’s investigation provides insight into
Corsair Group’s convoluted shell company investment scheme
.
Socium Bangkok Company Limited – a company based in Thailand – issued an unspecified quantity of shares in order to find resources to finance the implementation of the “Bangkok” project in Thailand.
The shares were bought by Socium Development Company Limited, renamed Corsair Development Company Limited, who then resold part of the shares in question to the investors with whom it signed the contracts, collecting the sums paid by them.
Corsair Slovenia BV, renamed Corsair Slovakia BV, issued an unspecified number of shares in order to find resources to finance the implementation of the “Slovenia” project.
The shares would have been subscribed by Corsair Europe Holding BV The latter then resold part of the shares to the investors, collecting the sums paid by them with which it signed the contracts.
Mr. Jussi Veikko Saloranta appears in the share purchase agreement relating to the “Bangkok” project as ” Director and CEO” of Socium Development Company Limited.
In relation to the “Slovenia” project, Mr. Jussi Veikko Saloranta is the CEO of the companies Corsair Slovenia BV (issuer of the shares) and of Corsair Europe Hoding BV (offeror of the shares).
In the copy of the ” Certificate shares” – relating to the shares issued by Corsair Slovenia BV subscribed by the investors – it is indicated that Mr. Jussi Veikko Saloranta is ” director of Corsair Group International”.
As part of their communication with CONSOB, in August 2021 Corsair Group falsely stated Corsair Group International “had not yet been established”.
Corsair Development Company Limited (formerly Socium Development Company Limited based in Thailand) and Corsair Europe Holding BV (based in the Netherlands) to which the website corsairnow.com is linked, would therefore have subscribed the issued shares, respectively, by Socium Bangkok Company Limited and Corsair Slovenia BV with a view to relocating them to the public of savers through (at least as regards the Italian market) remote communication techniques such as interaction through the website corsairnow.com.
Long story short, Corsair Group pitched its f
🤖 Quick Answer
What is Corsair Group and why did Italy's financial regulator take action against it?Corsair Group is an investment scheme declared illegal nationwide by CONSOB, Italy's financial regulator. The action followed complaints from Italian investors who collectively lost €440,969. CONSOB initiated investigations in July 2021 after receiving multiple reports of fraudulent investment activities linked to the organization.
Who are the Italian Executive Coordinators of Corsair Group?
Andrea Cerio and Roberto Frezza serve as Executive Coordinators for Italy within Corsair Group. Cerio identifies himself as a "Global Influencer" on social media, while Frezza holds the position of "Head of Italy at Corsair Group International," according to their online profiles.
How did CONSOB establish a connection between Corsair Group and Italy?
CONSOB identified Corsair Group's presence in Italy through
🔗 Related Articles
- Grass Review: Wynd Labs securities fraud?
- The Eddie Head defense declarations
- CryptoGold Review: Daily crypto mining pool ROIs & recruitment
- BidXcel Review: “Profit-sharing” done right?
- Is WorldVentures operating illegally in Brazil?