Corsair Group has been ruled unlawful across the country by Italy’s top financial authority.
Following complaints from Corsair Group investors with Italian addresses who together lost €440,969, CONSOB made its declaration.
In response, CONSOB in July 2021 began talks with Corsair Group and CEO Jussi Veikko Saloranta.
That investigation was brought on by concerns made by the Italian Corsair Group.
Corsair Group is linked to Italy through CONSOB.
names of two Italian persons who are designated as “EXECUTIVE COORDINATORS for Italy.”
Andrea Cerio and Roberto Frezza are the two Italian Executive Coordinators for Corsair Group.
Andrea Cerio describes himself as a “Global Influencer” on social media:
The title “Head of Italy at Corsair Group International” is claimed by Roberto Frezza.
The inquiry by CONSOB sheds light on Corsair Group’s complex investing strategy including shell companies.
Social Bangkok Firm Limited, a Thai company, issued an undetermined number of shares to raise money for the financing of the “Bangkok” project’s execution in Thailand.
After purchasing the shares, Socium Development Company Limited, now known as Corsair Development Company Limited, resold a portion of them to the investors it had signed contracts with, keeping the money they had paid.
To raise money to undertake the “Slovenia” project, Corsair Slovenia BV, now known as Corsair Slovakia BV, issued an undetermined number of shares.
The shares were going to be bought by Corsair Europe Holding BV. The latter company then sold a portion of the shares to the investors again while receiving the money received from them for signing the contracts.
The share purchase agreement for the “Bangkok” project refers to Mr. Jussi Veikko Saloranta as “Director and CEO” of Socium Development Company Limited.
Jussi Veikko Saloranta, the CEO of Corsair Slovenia BV (the company issuing the shares) and Corsair Europe Holding BV, is in charge of the “Slovenia” project (offeror of the shares).
Mr. Jussi Veikko Saloranta is listed as a “director of Corsair Group International” in the copy of the “Certificate Shares” that relates to the shares issued by Corsair Slovenia BV and subscribed by the investors.
In August 2021, Corsair Group misrepresented the fact that Corsair Group International “had not yet been founded” in correspondence with CONSOB.
The issued shares from Socium Bangkok Company Limited and Corsair Slovenia BV, respectively, would have been subscribed for by 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, to distribute them to the general public of savers via (at least about the Italian market) remote communication techniques such as the internet.
To cut a long tale short, Corsair Group solicited Italian investors for its fraudulent investment plan. hence, here we are.
On January 28th, CONSOB declared; “We have confirmed that Corsair Group is selling an investment program.”
It is not permitted for Corsair Group to offer investing services.
The activity in question (by Corsair Group) is set up as a professional exercise of investing services directed at the Italian public, which is against TUF Article 18, Paragraph 1.
I believe CONSOB has also mandated that the Corsair Group website be prohibited in Italy.
The verdict may be appealed by Corsair Group within 60 days.
The Corsair Group website reveals that traffic has drastically decreased. This would imply that the chance has failed altogether.
What’s left of Frank Ricketts’ failing Cloud Horizon Ponzi scam is Corsair Group.
Ricketts is presently facing charges in Germany of money laundering using OneCoin.