CRIMINAL PROCEEDINGS AGAINST EURONA UPDATE.
THE NATIONAL COURT HAS ADMITTED THE FIRST COMPLAINT AGAINST EURONA FILED BY IURIS&FACTOR ON BEHALF OF DEFRAUDED SAVERS.
CASE 74/2022 JCI-AN.
For more than a year and a half, the law firm Iuris&Factor accepted the assignment to act in defense of the interests of its clients (and of the successive ones that have joined) to uncover the background of the de-patrimonialization of the company Eurona Wireless Telecom SA (Eurona).
Our clients are, among others, shareholders who acquired their shares through the MAB (today BME Growth, a stock market dedicated to small capitalization companies which, unfortunately, is becoming famous for the number of bankruptcies of its listed companies and losses of small savers, due to the lack of supervision and efficiency of the CNMV), and bondholders (bondholders).
BRIEF ACCOUNT OF THE PUNISHABLE ACTS
The recent history of the millionaire losses of shareholders and bondholders that exceed 60,000,000 euros, is the history of a maneuver to decapitalize the company and pass the profitable lines of business to another company, to finally keep Eurona, with nothing more than the liabilities that has led to the bankruptcy, liquidation and dissolution.
In fact, Eurona Wireless Telecom SA, incorporated the company Global Satellite Technologies Sl (Global) in 2018 and was transferring its profitable business lines to this company. At that time it held 100%. Up to this point, whoever was a shareholder and bondholder of Eurona, was or could be satisfied as it maintained, as the real owner, 100% of the profitable business lines, with positive EBITDA.
From that moment on, multiple subtle and complex moves were made, of which we will make a brief arabesque and which have led Eurona to bankruptcy.
It all started with the granting of a loan to Eurona with which an American company came into play. In 2018, in the restructuring process in which the company Global was created, the same American company and another national company granted a loan to the new company in exchange for a small stake in Global, taking place to subsequently take control of the entire company. During the following months, Eurona transferred not only its main business lines, but also all its assets to the new company without informing the market or its shareholders, through various financial operations, and the little liquidity it had left was used to repay part of the loan to the American company, to the detriment of its creditors. When Eurona was totally undercapitalized, these two companies increased their shareholdings in Global by granting new loans, thus acquiring the majority of the company.
This is a well-known international technique and instrument to take control of companies and lead minority shareholders to ruin and enrich the administrators who, in addition, are always the administrators of both companies, the emptied and the benefited.
Meanwhile, in the Spanish market, they kept the illusion to their trusting creditors, shareholders and bondholders, that everything was still the same and that Eurona remained strong and published it in the media, creating a false appearance typical of the best gamblers. It is enough to enter Eurona’s website, eurona.com, and believe that you are on Eurona’s website, when in fact it is Global’s website. Moreover, the brand and logo of Eurona are not Eurona’s, but Global’s.
Well, after the tangle of companies, businesses, loans, and other operations Eurona Wireless Telecom SA of the 100% that it had in Global, only maintains less than 7%, which, if it had not uncovered its management, would already be 0%.
Obviously, the lenders, for that minimal capital, have taken control of Global, which otherwise should have been purchased and the proceeds would have been of use to Eurona’s shareholders, creditors and bondholders, now worth exactly 0.00 euros for their more than 60,000,000 euros invested.
CRIMES AND PERPETRATORS
This disregard for small savers and investors, not protected by our regulators, who should ensure transparency and legality in the operations of listed companies, has meant, in our opinion, the commission of the following crimes:
Punishable insolvency, unfair administration, capital investment fraud, alteration of market prices and corruption among individuals.
Being its authors:
Eurona Wireless Telecom SA, Global Satellite Technologies Sl, PREMAAT Previsión Mutua de Aparejadores y Arquitectos Técnicos MPS, Magnetar Capital LLC, Realta Investment Ireland DAC, Fernando Ojeda González Posada, Richard David Alden, Guillermo Medina Ors, Fernando Barreiro Pérez Freire, Jaume Sanpera Izoard, Belarmino García Fernández, Miguel Ángel de Berrazueta Fernández, Javier Moncayo Barriopedro, Aquilino Artuña Díaz, Manuel José Campo Vidal, Javier Condomines Concellón, Cristina Amor Soto, Alan Shaffran, Luca di Rico, Victoria Parry and Jordi Martí Taulé (also investigated in our lawsuit against Qrenta in the Audiencia Nacional).
ADMISSION OF THE FIRST COMPLAINT AGAINST EURONA
All the above is explained in detail in the complaint and in a rigorous expert report, which has been filed before the Central Court of Instruction of the Audiencia Nacional.
the complaint was first admitted by on June 1, 2021 and has fallen into the hands of the Magistrate of the Central Court of Instruction number 6, Mr. Manuel García-Castellón.
It is currently being followed under procedure number 74/2022 of the Juzgado Central de Instrucción 6, the complaint having been admitted by decision of 5 December 2022.
This type of crime, which affects the credibility of our economic and market system, against consumers, and with international ramifications in the USA, Luxembourg and Ireland, can only be clarified through a strong criminal investigation, so we are satisfied that it is in charge of one of the most solvent magistrates in the country.