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Filippo Pignatti marketed his Ponzi scheme TCCF to his European investor base, as well as marketed CIF. He also wprked with Neue Helvetische Bank to transfer all the cash from CIF into TCCF, after he liquidated every Swiss equity position by late 2015.
Even after the Bernecker loan defaulted in mid-2018, wiping out 25% of TCCF, he marketed this fund at full value, face-to-face, with new investors - bare-faced securities fraud!!! And some of these investors were diverted to remit monies into Pignatti's personal bank account with Lloyds Bank in the UK, with Fortuna/Scarabaeus complicity.
CIF's investors believed they were investing in a diversified portofolio of Swiss equities, but after 2015 their investment exposure became 97% invested into TCCF as Pignatti sought liquidity to pay his & Scarabaeus fees, as well as make an ultra-vires loan to Bernecker of Euro 450,000, some 25% of TCCF.
CIF Investors
European Investors
TCCF Investors - Class P
Neue Helvetische Bank
European Investors
TCCF Investors - Class I
Neue Helvetische Bank
Clearsteam Banking
NB. Neue Helvetische Bank represents all the CIF shareholders in TCCF.
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