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While Classic Cars have remained an attractive investment asset class for many decades, Pignatti set up and used
CIF and TCCF as a personal ATM, using his German company BKL to buy and on-sell cars with a mark-up, often failing to transfer
ownership out of his name into the funds, recording overinflated values in the accounts, then ultimately faking an audit
from a bogus Ukrainian company whilst the cars disappeared from a Zurich garage.
TCCF car purchases & sales, by year (as in audited accounts, Bonham Auction House sales etc...) - prices in Euro equivalent :
NB.
the audited accounts never stated what each car was sold for, just the overall capital gains & losses.
Sale & purchases within a year never showed actual profit or losses.
There is no indication which cars were bought and sold via Pignatti's German company BKL.
With cherry-picking, Pignatti would sell cars to generate profits, falsely mark-up loss-making cars that ultimately sold at Bonhams' auction in 2019 for less than 50% of 2017 fund valuation.
TCCF was effectively a Ponzi scheme, committing securites fraud!!
| 2013 | purchase | Lancia Belna (60k), MG K3 Magnette (442k) |
| 2014 | purchase | Lancia Aurelia (340k), Ferrari 365GT 2+2 (?), Ferrari 456GT (30k), Ferrari F360 (63k), Januar E-Type 3 (58k) |
| sale | MG K3 Magnette (???), Ferrari 365GT 2+2 (?) - realised net profit = 125k | |
| 2015 | purchase | Lamborghini Espada 400GT (175k), Fiat 1500 Berlinetta (?), Ferrari 308GTB (265k), Ferrari Testarossa (170k), Ferrari 308GTS (106k), Ferrari 348 Spider (86k), Ranger Rover Sport - David Beckham (50k) |
| sale | Lancia Aurelia (?), Fiat 1500 Berlinetta (?) - realised net profit = 72k | |
| 2016 | purchase | Ferrari 599 (131k), Ferrari Maranello (?), Maserati (65k) |
| sale | Ferrari 308GTS (?), Ferrari Maranello (?) - realised net profit = 24k | |
| 2017 | purchase | MG TF1500 (45k), Ferrari 365GTB/4 (880k), Ferrari 328GTS (95k), Lamborghini 5000S (68k) - 2 Ferraris were actually collateral from Bernecker loan |
| sale | Lancia Belna (82k) - realised net profit = 22k | |
| 2018 | ||
| 2019 | Bonhams sale | Ferrari 456GT (32k), Ferrari F360 (57k), Januar E-Type 3 (44k), Ferrari Testarossa (55k), Ferrari 348 Spider (38k), Ferrari 599 (83k), MG TF1500 (18k) - less than 50% of 2017 fund valuation |
| 2020 | ||
| 2021 | sale | Ranger Rover Sport - David Beckham (17k), Maserati (37k) |
| 2022 | Missing | Lamborghini Espada 400GT, Ferrari 308GTB, Lamborghini 5000S - Ferrari recovered and valued by liquidator at euro 100k, not 250k as in audits!! |
| status unknown | Lamborghini Aventador, Lamborghini Huracan, Lamborghini Gallardo LP 560, Lamborghini Gallardo LP 570 Superleggera Spider, Mercedes G63bxAMG, Mercedes GTS AMG FAB Design, Audi R8 Plus 5.2L Coupe550 PS, Ferrari 488 spider, Ferrari 458 Italia, Maserati MC Stradale 520 PS, Maserati Quattroporte V 2005 (ex Elton John), Land Rover (ex Churchill) |