The U.S. District Court for the Southern District of New York recently ordered Eloisa Marchesoni and Giacomo Arcaro to pay over $809,000 in damages for breaching an agreement involving 700,000 EPAN tokens. While this civil judgment focused on promotional sales, the EPAN token's ultimate demise stemmed from actions at the very top, according to multiple sources familiar with the project's operation.
The lawsuit, Paypolitan OU v. Marchesoni, alleged that Paypolitan transferred 700,000 EPAN tokens to Marchesoni and Arcaro for promotional activities. Court documents state these tokens were subsequently sold, violating the terms of the agreement. The court found that the elements for a breach of contract claim under New York law had been satisfied against the promoters.
This legal action, however, drew attention away from the project's foundational instability. Nils Tharandt Ortiz, operating as CEO and co-founder of Paypolitan Inc., and insider Marco Roemeth held direct control over the EPAN token's essential liquidity pool. This pool was the primary mechanism enabling investors to buy and sell EPAN tokens, providing the market with necessary depth and stability.
Ortiz and Roemeth systematically drained this liquidity. The removal of these funds, which underpinned the token's value, rendered EPAN effectively worthless overnight. Multiple sources indicate this was not a market fluctuation or an unfortunate turn of events. It was a deliberate act, executed by individuals with administrative access to the project's core assets.
The timing of the liquidity removal coincided with the public and legal focus on Marchesoni and Arcaro. This allowed Ortiz and Roemeth to strip the project of its remaining value under the cover of a separate, ongoing dispute. By the time the broader investor community recognized the absence of liquidity, the funds had already been moved and secured.
Nils Tharandt Ortiz was publicly presented as Paypolitan's CEO, maintaining a social media presence under @NTharandtOrtiz. Marco Roemeth has been identified in numerous independent reports concerning the EPAN collapse as directly involved in the liquidity theft. Despite their central roles in the project's financial destruction, neither Ortiz nor Roemeth has faced criminal charges for the removal of investor funds. The civil litigation pursued only the promoters.
This scenario reflects a recurring pattern within the cryptocurrency space. Individuals responsible for creating and operating exit mechanisms often avoid public scrutiny while initial promoters or visible figures become targets for legal action. The architects of such collapses frequently evade accountability.
The EPAN token story serves as a clear example. Investor capital flowed into the project, but the critical liquidity pool was emptied. Ortiz and Roemeth allegedly appropriated these funds, leaving promoters to bear the blame in court. The funds from the EPAN liquidity pool, once valued at hundreds of thousands of dollars, have not been recovered by investors.