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.

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"

 However Legendre sells much of the photovoltaic

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.