After publishing an adaptation of the article on the link between two ICOs, Trilliant and Gladius, with Crypto Capital Co., which was entangled in the Bitfinex drama and whose executives were arrested in the United States (Reginald Fowler and Ravid Yosef), we were contacted by the owner of the Swiss company Crypto Capital AG, who requested that we pay attention to certain inconsistencies and presented proof that it was not involved in this affair. The conclusion is that any information, especially such critical information, must be cross-checked and that such bold accusations should not be believed so readily.
The author of the original article links Crypto Capital AG to the scandal-plagued Panamanian company, based on an article which has since been deleted in which Crypto Capital Co., which is also registered in Panama, is mentioned in relation to Trilliant’s ICO. This article has been deleted, apparently because its author did not verify the validity of its information. The second thing is the CYCAPAP1XXX BIC/Swift code found online that allegedly links Crypto Capital SA to Crypto Capital Co. on the grounds that the code belongs to a company with the suffix SA, which is on the list of alternative names for Iridium AG (the former Crypto Capital AG). But there is a mistake here, too: CYCAPAP1XXX belongs to Crypto Capital Corp. SA. A suffix is added to the end of a company name that characterises its structure. In this case, “Co.” (Corp) means “Corporation, while “SA” indicates the country of registration, Panama:
The Swiss company Crypto Capital SA that is owned by Steffen Korbach is a completely different company. In this example, the suffix “SA” does not mean a country (Panama), but rather S.A. — Société Anonyme – which when translated from French means a “Public limited corporation”. This suffix is given to limited corporations from the French speaking part of Switzerland, especially in the canton of Geneva. Other suffixes mean: AG — Aktiengesellschaft (limited corporation), Inc. — Incorporation:
Iridium Capital AG, judging by information from zefix.ch, has been renamed several times: in April 2018, as it happens, its name was changed to Crypto Capital SA, AG, Inc. In June 2019, its old name was restored. Unfortunately, that source only allows the history to be traced to 2016, while Korbach claims that Iridium Capital was initially founded in 2008. And this really is the case, there are records from 2008:
In addition, given the story of the scandal-ridden Crypto Capital Co., another coincidence is noteworthy: the fact that Korbach was previously a resident of Panama. Swiss document records always show a person’s place of residence:
According to Korbach, he was a resident of Panama when Iridium Capital was founded and, in 2009, he moved to Monaco, which is why he is listed as a resident of the Principality of Monaco at Trilliant. The denial that Korbach’s connection to Panama does not prove his complicity in this case, sounds logical That is because he lived in Panama in 2008, but Crypto Capital Co. only appeared in 2018. Proof was presented confirming his place of residence in Monaco.
Korbach also said that Iridium Capital was renamed Crypto Capital AG precisely to launch Trilliant’s ICO. As a result, the project was launched, an advertising campaign was started, and investor capital was sought. However, only less than $100,000 was able to be collected. This was due to the fact that Iridium was renamed and signs of the links with the cryptocurrency became clear. First of all, this would most likely unavoidably cause problems to arise with regulators and, secondly, the format of the ICO would require more starting capital to be raised due to excess marketing costs, and there would be a risk of a shortfall in the start-up amount, followed by having to return an even larger amount of money to investors. It would be better to develop the project by means of a private offering. As a result, the project had to be scrapped, Trilliant AG, which was created for the ICO, had to be detached from Crypto Capital and renamed Iridium Capital AG. Ownership was retained through a shell company in order to return money to investors. Part of the capital raised was returned; the rest remained unclaimed. What’s more, Korbach decided nevertheless to move away from cryptocurrencies and return to the stock market, since it is really difficult for companies related to cryptocurrency to open accounts in Europe, plus there are a lot of less than reputable characters involved in crypto.
As such, the link between the ICOs of Gladius and Trilliant and the scandalous Crypto Capital Co. Has been refuted, and the cash flows from this company do not overlap with those passing through the structures of Gery Shalon and the Ukrainian company Krypton Capital. The Panamanian company is completely out of the picture.
Before speaking about Trilliant's further link to any kind of fraud, one fact that has already been mentioned must be taken into consideration: the project drew less than $100,000 from investors. Not millions, as some sources cite. After the ICO was cancelled, the capital attracted was returned to investors. The story of the attempt to launch cryptocurrency cash points began with the fact that Korbach already had a company at the time that had been enabling mobile payments since 2011, www.cashcloud.com on an eMoney license, and the infrastructure for it was already partially ready. That is why his brother Sebastian's idea to launch crypto ATMs got funding and support for its development.
Another thing in the original article that confused us is that the author considered Frank Bonnet, who wrote the smart contracts to collect capital and distribute tokens in both ICOs, to be one of the key links connecting the two projects. First of all, Bonnet is just a regular employee, a coder for hire. Secondly, there was a boom in crypto start-ups in 2017. And before crypto's bull run and ICOs started to emerge in large numbers, the market was very small. In the first half of 2017, there were not many influencers, crypto information outlets on ICOs, advisors or people who would become advisors for money; there were not massive numbers of coders working on blockchain who knew how to work with its features. That all came about much later. At the time of the launch of Gladius and Trilliant, there were very few people who really understood the subject area. That is why, in principle, intersections were unavailable. Frank Bonnet came well-recommended to hold an ICO as the creator of ether-based smart contracts. That is why Trilliant decided to hire him. What's more, everything with Gladius was on the level at that time. Bonnet, in turn, suggested inviting Orie Levy, who was marketing director there, because he had attracted millions of dollars thanks to his connections and relationships. Levy was helping Trilliant with partnerships, deals and consultations, which is why he brought people with whom he had already worked well in a previous project. He also wanted to raise capital from investors who had already gone to Gladius, but, for some reason, this did not happen. Perhaps that was for the best. As who knows: perhaps the list of investors would feature the ill-fated Krypton Capital, through which Gery Shalon's money had passed multiple times.
Source: https://cryptosherlock.club/crypto-capitals/ | Overviews of ICO projects from the team of analysts at © cryptosherlock.club