Liechtenstein located Investment Manager 1741 AG and CEO Marcus Wagner are alleged to have significantly damaged Investors in a Liechtenstein based-SICAV, current reports state by a value of approximately USD $60 - 100 Million. It is further alleged that 1741 AG and Wagner have failed to fulfill fiduciary duties according to Investors in the SICAV, who are seeking legal action. The failures of 1741 AG and CEO Marcus Wagner are public, below are claims and evidence from within the public domain that confirm investor allegations.
Claims against 1741 AG and CEO Wagner for SICAV:
1. Filed False and Incorrect NAV (see below - Fact #1);
2. Failure to file accurate financial, including inaccurate balance sheets (see below - Fact #2);
3. Failure to respond to Investor Inquiries (see below - Fact #3);
4. Failure to honor a published Exchange Offer for the SICAV (see below - Fact #4) and,
5. FMA has been silent and FMA has not helped Investors (see below - Fact #5).
6. It was not until September 1st, that Marcus Wagner published to LAFV investors had potentially been damaged and that 1741 was working with KPMG to find a solution. (see below - Fact #6).
1. 1741 Group and CEO Marcus Wagner allegedly caused the SICAV to file a False and Incorrect NAV. In particular, the SICAV's NAV does not include any value attribution from the SICAV's investment in RON/Ronin which is a digital asset and not published in the following report. You can view the evidence in the annual prospectus/report at the following link: https://lafv.li/ENG/Funds/FundList/FundDetails?ID=41725;
2. As a result of the SICAV's alleged False and Incorrect NAV, the SICAV's Balance Sheet and Income Statement are incorrect;
3. Despite repeated inquiries from Investors of the SICAV, it is reported that 1741 Group AG and CEO have repeatedly failed to respond;
4. An Exchange Offer for the Fund was published early spring as can be viewed per the following link: https://lafv.li/ENG/Funds/FundList/FundDetails?ID=41725. To date, 1741 AG has failed to honor the Exchange Offer despite it being Officially Published by the Liechtenstein Stock Exchange; and,
5. Despite numerous communications by Investors, FMA has not taken any action whatsoever.
6. The recent document that Marcus Wagner of 1741 Group AG published can be found at the following link: https://lafv.li/ENG/MembersDetail/View?ID=76377#:~:text=20220908.pdf%2008.09.2022-,20220901_Pangea,-Blockchain%20International%20SICAV_Mitteilung
Investors should potentially AVOID 1741 AG as an Investment Manager in Liechtenstein because they are unaccountable and potentially harmful. This is a rapidly developing story, more information will be published as it becomes available or as events unfold publicly.
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Jonathan A. Beaufort is senior editor and a partner of FPC - An independent financial technology press agency focused on examining global financial crimes to improve public knowledge and protect potential victims through promoting public awareness.