Envion ICO Scam – Envion is said to be a new player in Block-Chain System. Read here Envion’s Project Full Story how it ended up being listed in Scam ICOs.
Also, read How to identify scam ICOs?
Envion ICO Scam Full Story
Berlin- January, 2018-Introducing the Future of Smart Decentralized Crypto Mining Infrastructure. Envion Project was quickly approaching.
According to Envion Project news– the Company entered most profitable standard of self-expanding crypto infrastructure.
Crypto Currency prices are growing at a dizzying pace and many smaller or larger investors also want to get involved. Seeing this Envion launched and begin Crypto Mining is starting its ICO and even Crowd-Funding campaigns raising $100 million.
16th May 2018 –The founding team of the Envion project joins hands with the Company Trado GmbH.
Woestmann’s scandal: A Summary and Scam from Beginning
The Envion Crypto Mining Company drives according to the current value of each crypto Currency, so investors do not have to monitor how the market is developing. Instead of investors, the market situation is monitored by the experts of the company.
There are many allegations against the CEO – Woestmann and there is no evidence supporting his allegations and thus Envion’s founders have begun a campaign to publish the necessary proof to allow investors to determine the truth based on verifiable documentation.
Envion’s Founding Team made legal Actions – They even took legal action against the shareholders of Envion AG (Switzerland), namely Quadrat Capital GmbH, whose shareholder and managing director Matthias Woestmann is also acting as board member (CEO) of Envion AG, after he unlawfully secured the majority stake in EnvionAG in breach of contractual obligations. The company has been left paralyzed with no word from Woestmann for many months.
According to the Officials – Matthias Woestmann is responsible for not burning the additional tokens unallocated after the ICO ended despite this being part of the investor proposal.
A more detailed Report about the Scam – All relevant IP as patents are owned by the founders. The accused cut contact with them and then informed them in a meeting that he was taking full control of the company, an action that they refer to as the world’s first ‘analogue hacking’ of an ICO wherein funds were illegally hijacked without breaking into the CryptoCurrency wallets. They cite his reasons for doing so as a lack of communication on their part, which they deny.
Allegations filed against Envion Company
Lawmakers narrated the entire issue and missing of ICO Token- “In addition to the 86 million tokens issued legitimately in the ICO, another 40 million have been generated [illegally] without the knowledge of the Board of Directors. For every 83 Tokens issued to subscribers, additional 10 Tokens will be allocated to the founders, 5 Tokens to the Company and 2 to the bounty program without consideration.”
The Presale of Token- The pre-sale was executed with the knowledge and direction of Matthias Woestmann- about 12.5 million total tokens were sold in the presale.
About Envion New Company and Block-Chain
To expand the value chain of energy producers, Envion has created a smart global network of satellite-connected modular crypto-mining units that transform energy into crypto-assets right at the source. It delivers smart, scalable off-grid solutions to maximize the value of renewable and traditional energy worldwide.
The founding team – Led by Michael Luckow, partnered with the former newsman and energy industry investor Matthias Woestmann.
Envion Company Shares and Investment – Woestmann was tasked with forming Envion as an AG company in Switzerland and later appointed CEO with a 19% stake in the company. The founders pooled their 81% of shares via a jointly-held company, Trado GmbH.
Block-Chain-Envion AG is a Block-Chain start up operating out of Berlin which produces crypto currency mining containers powered by renewable energy. After an Initial Coin Offering (ICO) that raised $100 million, plans to create mobile Block -Chain data centers which install on-site at power plants have now been put on hold by an acrimonious legal battle that pits the CEO against the rest of the company.
The Envion Assignment – CEO Matthias Woestmann words after found Guilty
“There is no contradiction- 41m Tokens have been created without the knowledge and permission of the board. 24m of them are totally illegal because they are not covered by the prospectus. And general I would say that the German judicial system will bring light into the suspected large-scale fraud. $50 million of the raised funds available, claiming the founders lied about the amount of money raised. On the issue of operations.”
“We will replace the old Envion token by a new token that carries the full payout rights for you.”
- According to the information you sent me, the investor took a long time — until April — to provide accreditation documents. We would gladly distribute his tokens and also distribute the complete amount of tokens to other investors who have provided full documentation in the meantime. Do we have consensus that that should take place?
- Another topic: we would also like to start destroying tokens. In order to finalize that, we need to agree on a final accounting of tokens, but we can at least start on this to show the community that we are still making progress. What would you say to a first gesture in the amount of 5 million or would you think a higher sum is possible?