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TGI AG gold discount business halted amid investigation
TGI AG has halted its business model involving the sale of physical gold at high discounts compared to market prices. Under this model, investors paid the full purchase price in advance but were scheduled to receive the gold much later, sometimes up to three years after signing the contract.
Authorities in Liechtenstein have launched investigations into potential criminal offenses, including fraud and unauthorized banking activities. There are concerns regarding whether the business operated as a Ponzi scheme, where new customer funds might have been used to satisfy older claims.
According to the lawyer for TGI, the current blockade of repayments affects approximately 2,800 customers, involving a total volume of about 45 million euros. While authorities have frozen funds and accounts to protect investors, these actions have also blocked the actual disbursement of funds during the ordered liquidation process.
Entities
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] The Liechtenstein prosecutor's office is conducting investigations into potential fraud and unauthorized banking. www.mittelstandcafe.de · prmitteilung.de · www.pflumm.de · www.pr-neuigkeiten.de
- [● 4 SOURCES] Repayment blockages affect approximately 2,800 customers. www.mittelstandcafe.de · prmitteilung.de · www.pflumm.de · www.pr-neuigkeiten.de
- [● 4 SOURCES] TGI AG sold physical gold at high discounts relative to market prices. www.mittelstandcafe.de · prmitteilung.de · www.pflumm.de · www.pr-neuigkeiten.de
- [● 4 SOURCES] Investors were scheduled to receive gold up to three years after contract conclusion. www.mittelstandcafe.de · prmitteilung.de · www.pflumm.de · www.pr-neuigkeiten.de
- [● 4 SOURCES] The total volume of blocked repayments is approximately 45 million euros. www.mittelstandcafe.de · prmitteilung.de · www.pflumm.de · www.pr-neuigkeiten.de