Finma conducts proceedings in connection with the “Moonshot” platform
Published: Tuesday, Nov 19th 2024, 19:50
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The Swiss Financial Market Supervisory Authority FINMA is conducting proceedings against a total of ten interlinked companies and two natural persons in connection with the "Moonshot" investor platform. It has also taken measures to protect investors' interests that are under threat, Finma announced on Tuesday.
There is a strong suspicion that the persons involved in the proceedings as a group have carried out several activities that are illegal under financial market law without the necessary licenses, according to the statement from the supervisory authority. According to Finma, this specifically concerns activities as a securities firm and as a derivatives firm, the acceptance of deposits from the public and the corresponding advertising, as well as the issuing of structured products.
Investigator appointed
FINMA has now appointed an investigating agent at the companies in question and authorized him to act in place of the companies' governing bodies. In this way, the authority wants to prevent investor interests from being damaged and new investors or depositors from being harmed.
According to the current status of the investigation, the companies affected by the proceedings do not have up-to-date accounts, according to Finma. Accordingly, the financial situation of the companies is unclear.
Questionable financing of restaurant property
In recent days, there have been several reports in the media about the "Supernova" restaurant project in Bern, the opening of which was prevented due to the Finma measures. This property is owned by OCSP, which is a company affected by the enforcement proceedings, writes Finma.
There is a concrete suspicion that the purchase of this property was financed with funds that originated from an activity that is illegal under financial market law. However, there is no rental agreement between the operator of the "Supernova" restaurant and the owner of the property.
Instead, the operator of the restaurant is basing its claims on a subletting agreement between itself and a natural person directly affected by these enforcement proceedings. According to the press release, Finma has concrete indications that the sublease agreement may have been concluded unlawfully.
Promise of "first-class deals"
According to its own website, Moonshot sees itself as a "network of accredited investors, specialists and entrepreneurs". On its website, it promises investors investments in "first-class private equity and venture deals before the general public has access to them".
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