LEGENDRE heritage, a € 40 million investment scam?

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Legendre heritage

The topic is "The Parisian" daily this morning (January 21, 2016): "fake investments, real scams" and announces the suspicions of a gigantic scam that the amount could reach 40 million euros.

the Parisian

In June already, 2015, the AMF published a press release in which she put cautioned investors against an aggressive and probably misleading commercial speech which announced incredible returns with a very low risk level.

 

 

There is no such thing as risk-free return see article torque performance risk

AMF releases: 2015

The financial markets authority draws the attention of the public on certain products sold by "Legendre heritage"

Published on June 9, 2015

The AMF receives many questions on the part of individual investors and professionals related to LEGENDRE heritage activities. In this context, the AMF draws the attention of the public on the site internet http://www.legendre-patrimoine.com.

The Global heritage investment company (with the trade name "Legendre heritage") whose headquarters is located 34, the Champs-Elysées 75008 Paris, offers, through its website, solutions of tax exemption in real estate as well as different investments in various fields, including the field of photovoltaics.

The designer and Manager of these products is the France energy finance company.

Some documents relating to investment products whose underlying asset consists of photovoltaic panels, announce high return prospects (4%, 6% and 7% per year).

These products include the following:
• 'Energy yield 4% France (1).
• 'Energy yield 6% France (1).
• "Energy yield 7% France" (referred to as either 'Ms France energy yield 7% ' or "Legendre yield 7%".)

Legendre heritage markets also present as 'défiscalisant', and eligible products to the Girardin industrial device.

The marketing of all or part of these products is done also through other companies (including Kalys investments).

The precise AMF, in accordance with article L. 621 – 15 I of the monetary and financial Code, that she provided the details it holds on Legendre heritage and the companies involved both in the design and management of the following products in their marketing of the Paris public prosecutor's Office from which investors can make themselves known.

In General, the AMF invites investors to apply rules of vigilance before any investment:

  • No commercial speech does make you forget that there is no efficiency without high risk. Any product with a higher yield than the currency rate (the investor may also refer to the rate of the livret A) priori has a sensitive risk;
  • The information provided by your intermediary should be clear and understandable. The adage "invest only in what you understand" will avoid many setbacks.
  • Get more information on intermediaries that offer the product (clearance/approval, social identity, headquarters etc.);
  • Ask yourself the question of how, and by whom, is achieved (purchase or sale price) valuation of the proposed product.

Finally, in view of their intrinsic characteristics, some investment high risk of lack of liquidity to the resale of the product. It is therefore imperative to learn precisely about the rules or mechanisms that allow the resale of the product.

To ensure that the intermediary who offers products or financial services is allowed to operate in France, you can consult the list of authorized investment services (https://www.regafi.fr) providers or intermediaries allowed in the category list consultant investment financial (CIF) or (CIP) (https://www.orias.fr/search) equity investment consultant. If the person is not on these lists, we strongly invite you to not meet its demands.

About AMF


Independent public authority, the AMF is responsible for ensuring the protection of savings invested in financial products, information of investors and the proper functioning of markets. Visit our site www.amf-france.org

You have questions?


You will find information on our site internet http://www.amf-france.org or contact AMF savings service info at 01 53 45 62 00 from Monday to Friday from 9 h to 17 h.

Contract press:
Directorate of communication of the AMF – Caroline water – Tel: + 33 (0) 1 53 45 60 39 or + 33 (0) 1 53 45 60 28

Notes

Accurate as of August 7, 2015: the AMF says that products 'Energy performance 4% France' and 'energy yield 6% France"mentioned in this press release have not been marketed by Legendre heritage (trade of Global heritage investment name), but mainly by the Kalys investment company and they still are.

Products that are not part of the offer according to Legendre heritage for this first charge

"We have never marketed France energy yield 4% and 6% France energy return, defends Louis Sanguinetti, president of Global assets investment, joined by the money & you. We are also criticized France 7% energy marketing. "But we stopped to offer early April." It is also the case for the industrial Girardin, according to the group.

To support his point, leader also puts forward a court decision dated June 2 last and available on its website. In April, the AMF had assigned society for interim measures so that it ceases to commercialize the product iron 7%. However, the order made by the TGI (and online by Global heritage investment) notes that "the dispute became moot", the product is no longer offered.

Louis Sanguinetti said, so do not understand this alert from the AMF to intervene after the order of the TGI.

 However Legendre sells much of the photovoltaic

 

Legendre heritage

 

Why a scam this time, according to the newspaper?

The scam investment in power plants and industrial Girardin photovoltaic have never been made.

The scam is relatively simple: the funds collected from investors don't would simply not been fully invested in projects which should have finance and solar power stations never commissioning.

Beyond the questioning of the tax advantage expected by investors Legendre heritage and FSB Holding (company head at the origin of the construction of the model) for lack of connecting solar power stations, it's the loss of the capital invested by investors who must be feared.

 

 

There are thousands of blurred customers", assures Hélène Féron-Poloni, one of the lawyers of the victims. In total, the newspaper reported approximately 1500 investors cheated by these financial products in the photovoltaic. The similarities with other large financial scams (Madoff, Aristophil, etc.) are disturbing: promised above average yields (let's not whopping 8% per year is not huge) but it is especially the million euros (40 M€ precisely) evaporated, opaque fixtures, a multitude of companies nested with each other…

Where then are the 40 M€ of investors attracted by the products of the FSB Holding Group and its subsidiary France Energy Finance (FEF)? It will be justice to establish it. According to our information, a preliminary investigation at the Paris Prosecutor's office. The financial brigade is trying to clear up this sprawling case with international ramifications. Investigators rely on several reports of the authority financial markets (AMF) and Tracfin, the Bercy AML cell.

An association of victims for damage control

While the society that has cheated them, the FSB Holding Group, is in receivership, investors formed themselves into association. Objective: limit break. "If we get 50% of our capital, we will be happy," says Philippe Barbet, president. They were however promised "guaranteed" 7% yields. Too good to be true? The authority of financial markets (AMF) alert: "performance pays a risk. If it is too high, it's that there is danger. »

The end of a dream.

Despite his 75 Springs, Louis – Pierre Cavaillé hoped to take his girlfriend to the Mexico… But the Toulouse no longer has the means to travel. Risky investments put an end to his desires also. "It was four years ago. I had a little more than €200,000 to invest. At the age of 75, we think of the transmission, to the family. So I was looking for safe investments. "While surfing on the Internet sites of savings advice, he thinks discover the gem: an investment offering a yield of 7% proposed by Legendre heritage society. How to justify a such profitability? The money was supposed to fund own power plants. However great mistake, it has not diversified as I recommend it all the time by placing on several sites, several products etc. Anyway after I asked to do this to the sales…

Former financial officer at IBM, Louis – Pierre Cavaillé delves into the documentation. "Products appeared safe, guaranteed. "We were talking about insurance, legal assistance with a law firm, was quoted even the name of EDF", he says. After a few phone calls to the economic advisers, he makes the mistake of his life. "I paid a first €100,000 in 2013 on the product placement, then new €100,000 next year. ' Big mistake.

Initially, everything goes perfectly. "I got interest in 2014. "Confidence, Louis-Pierre-Ca-worked signed a contract of tax exemption said Gervais and invests more than €25,000 with the promise to significantly reduce its taxes, a good idea either. However in 2015 no interest is paid. "I asked my Advisor wealth management where my money had been placed. He said: I don't know, but it is not normal that I don't know. "A few weeks later, Legendre heritage passes documents. "He had plans of power plants, photos, letters. Stupidly, I was reassured. "Until the day where an Advisor warns him by telephone that an administrator (so that the company is in trouble) has been appointed to manage the company which organised its investments. «Here, I thought: it smells bad, says Louis – Pierre Cavaillé, today, fatalist.» If I can get 15-20% of my initial investment, I already think me happy. But many victims find themselves in inextricable situations. »

It is the case including Michel P., 66, who region several years in a row through industrial Girardin. Yet the electrical installations that he has funded are never out of Earth. For him, it's worth double. It will therefore losing money and have relief tax because it has not fulfilled the conditions. "I received an amending notice of administration, sighs Michel. Bercy wants me to tax savings in 2012 via the industrial Girardin. "Total, around €10,000 to add 10% of penalties and interest on arrears. Worse: "I find myself in the same situation against the IRS in 2013, 2014 and 2015", Michel already knows. "I was cheated.
Madam S., 30, used and at the time unemployed she had borrowed money in order to invest in these interesting products and that "savings on the Internet comparison sites were very well classified", she says. It borrows money to 2, 96% theoretically, a good rate to use the effect of leverage, hoping to wait a 7% return on its investment and collect the difference. "I have invested €50,000 and now I have to postpone my real estate project. I'm stuck,"she said. The effect of leverage played Club-indeed, it loses a lot of money.

I didn't know it was a scam but I knew that the placement was bad (JF of wealth and finance)

I've never tried to put my money in photovoltaics for two reasons:

In my analysis, for a friend, I have seen that frankly we don't talk much risk or location I think the photovoltaic sector in Lorraine it is not terrible in Toulouse…

And then and especially, because of the friends who have worked inside me clear that it is not good to see downright bad (they were salespeople in photovoltaics!).

Yet Legendre heritage is a member independent wealth management of the ANACOFI consulting firm.

Behind this potential scam, Legendre heritage played a key role: the distribution of financial products. Legendre heritage is a controlled and adherent of the ANACOFI independent wealth management consulting company.

What is this association of IFAs has achieved sufficient controls? What were the internal sanctions on the part of the ANACOFI against Legendre heritage for this release of the AMF?

 

Legendre heritage made its customer survey via a physical network of heritage management advisors and had a prestigious address Paris, but also through a heavy advertising on the internet. Like what that means nothing!

Conclusion

Always diversify and think very carefully about its investments.

 Altogether, the newspaper reported approximately 1500 investors cheated by these financial products in the PV, but what other products marketed by Legendre heritage?

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Or sign up directly: lendix, crowdimo, bolden, pretup code 0JWN5CH1, credit.fr Promo Code to get a bonus: P10073, dividom, finsquare,.

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