Change of Corporate Governance

In London the group changed the registrar, accountant and law team for the next level. Many aspects have been taking into consideration for change of the registered office and accountant firm. In May, the group was able to join a new British brokerage management team.  The team bought shares of AVIS and extended the UK team with an international, powerful law firm and with a new corporate registrar and accountant. 

The international law firm specialized in corporate finance and merger & acquisitions will combine of the group needs in completing the project worldwide. Particular for the capital management and derivatives issuance.

The decision of change of accountant, grounded its base on several irregularities discovered, as there has been misused a bank account of AVIS Global Green Energy Fund, Ireland during 2018 and 2019. The account has been retained and blocked by the directors of the group already in 2018. Nevertheless, 2 former shareholders of the group were able to activate the account and use it for money laundering. The UK accountant had been aware about illegal activities at the Eurostandard Bank account, but he did not inform the directors of the Group. In January 2020 the directors of the group have been approached by unknown peoples searching their money apparently moved through that account without any authorization and more than 10,4 million euros disappeared from there. In fact the directors learned that illegal invoices have been issued in the corporate name and funds have been washed trough that account. 

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