Thursday, August 26, 2010

Traditional American Pancake

prospectus error at AVIMA and ISIS Fund?

by lawyer Martin Arendt, MBL-HSG

The industry information service "direct investor protection" reports in its edition 09A/10 on existing, in his view brochure errors in the Fund AVIMA AG & Co. - Property Value Plan 6 KG and ISIS GmbH & Co. KG Investment Fund 3. These so-called for the icon group associated companies would not provide information on current account as specified by the IDW S4 made. Moreover, there is one for the investors in the fund AVIMA the risk that the successively later paid up savings rates of the rate payers in economically less attractive investment destination in comparison to the initial investment of the single investor would invest. This risk is dilution - so the "direct investor protection" - not
prospectus.

Even more serious, however, in my estimation, the fact that the initiators of the fund, Mr. and Mrs. Klaus Pitter-Kilfitt Anouschka Wittke are previously convicted, but this has not been mentioned in the brochures. This should, in my legal analysis of the facts Investment fraud (§ 264a StGB) meet, as it is of good repute for the investment decision is a relevant factor. Pitter-Kilfitt and Wittke had been associated with the launched of them before Alpina funds in late 2002 for illegally operated bank and financial services business (criminal offense under § 54 KWG) from the Munich District Court sentenced to several months imprisonment.

are in connection with the previous fund-AVIMA Alpina GmbH & Co. KG asset development plan 4 Klaus Jürgen Pitter-Kilfitt Anouschka Wittke and the remainder for investment fraud to pay damages to an aggrieved investor sentenced (§ 823 para 2 BGB in conjunction with § 264a StGB). An appeal lodged by them constitutional complaint against the final verdict of the Munich Higher Regional Court of 18 December 2006 and the order of 15 January 2007, Az 21 U 4148/06, the Federal Constitutional Court has not accepted the decision and confirmed that these decisions (decision of 29 February 2008, Az 1BvR 372/07).

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