thinking of investing in a very profitable and ecological project, able to satisfy their quest for meaning: a complex of 27 villas on the Indonesian island of Bali, with a gym, bar and swimming pool. With a promised return of 8% tax-free, the promoters of this investment - the Vivalav group - have attracted nearly 200 investors, often in a fragile period of their lives. But the project never saw the light of day and the financial package turned out to be a pyramid-type scam that collapsed in 2014. Between 2009 and 2014, justice estimates that the cheated investors (of which a hundred became civil party) lost some 13 M €. Many have lost the savings of a lifetime . After five years of investigation, on April 18, the investigating judge referred the two former officials of Vivalavi to the criminal court. The brothers Eric and Franck Girardot will be judged in particular for fraud in an organized group, abuse of corporate assets, breach of trust and money laundering. The Caisse d'Épargne, suspected of not having complied with its due diligence obligations, will also be tried for money laundering.

Real estate scammers Vivalavi on trial

Real estate scammers Vivalavi facing trial in Paris ( France ) on Wednesday 18/11/2020 charged with cheating more then hundred investors. The two former owners of the Vivalavi group , The French brothers Frank and Eric Girardot who managed  the project ” 3V Rening Bay Hotel ” in Jembrana will be judged  for fraud , abuse of corporate assets and money laundering. The French Bank ” The Caisse d’Épargne ” suspected of not having complied with its due diligence obligations, will be also charged for money laundering.


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thinking of investing in a very profitable and ecological project, able to satisfy their quest for meaning: a complex of 27 villas on the Indonesian island of Bali, with a gym, bar and swimming pool. With a promised return of 8% tax-free, the promoters of this investment - the Vivalav group - have attracted nearly 200 investors, often in a fragile period of their lives. But the project never saw the light of day and the financial package turned out to be a pyramid-type scam that collapsed in 2014. Between 2009 and 2014, justice estimates that the cheated investors (of which a hundred became civil party) lost some 13 M €. Many have lost the savings of a lifetime . After five years of investigation, on April 18, the investigating judge referred the two former officials of Vivalavi to the criminal court. The brothers Eric and Franck Girardot will be judged in particular for fraud in an organized group, abuse of corporate assets, breach of trust and money laundering. The Caisse d'Épargne, suspected of not having complied with its due diligence obligations, will also be tried for money laundering.

The ecological real estate project ” 3V Rening Bay Hotel ”  a complex of 27 villas with bar and swimming pool in Jembrana never saw the daylight. With a promised investment return of 8% tax-free, the accused promoters of this investment Vivalavi group Frank and Eric Girardot  attracted nearly 200 investors . The financial package turned out to be a pyramid-type scam that collapsed in 2014. Between 2009 and 2014 they cheated investors who lost  more then 13 miljoen Euros ( 15 miljoen US$ ). Many victims have lost their live savings and one victim became homeless and was forced to sleep in his car.

Real estate scammers Vivalavi on trial

The French Bank ” Caisse d’Épargne ”  where one of the scammers accounts was registrated  is accused of not having been sufficiently vigilant regarding the source of revenue of millions of euros. The legal action against the acused scammers started in the summer of 2014, when more then fifty individuals claiming to have been cheated by  the two brothers Frank and Eric Girardot which promised them very high investment returns, up to 8%. During the period  2009 until  2014, the brothers Frank and Eric Girardot raised the total amount of  12.5 million euros from their investors.

Many victims field brainwashed during the coaching sessions when they been offered a real estate investment in Bali, The entry ticket to acquire shares in the  project was set at 5,000 euros ( 6.000 US$ ). In reality the investigators discovered that the invested funds have not been used to build the villas but to supply other budgetary items or to provide benefits in kind to the directors of Vivalavi. The interest received by the first investors came from the payments made by the following ones. A system that was based on a vacuum that collapsed in May 2014 when the Girardot brothers unsuccessfully tried to set up a rescue plan. The beginnings of the scam can be found in the coaching activities and the communication made to investors,  The construction of the Rening Bay resort  on the beachfront in Jembrana started in 2008 with only a third of the project was  built before the  bankruptcy in 2014.

Real estate scammers Vivalavi on trial

Their have three men accused of  the large scam , only two of them  will be present in court, the third person passed away. He was the wellness coach and  a former follower of the Church of Scientology. They took advantage of the credulity of the victims  to hide their fraud on the Ponzi scheme. Or a system in which the first investors are remunerated by the money brought in by the following investors.The two brothers, who spent several months in detention in 2016 and  have  been set free under judicial supervision.

source : http://www.boursorama.com


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