Overview of the allegations:

Allegations surfaced that PlatinCoin (from PLC Group AG) is an elaborate Ponzi/pyramid scheme bursting with red flags, allegations and warnings from key governing financial bodies. In particular, BaFin have come forward to warn against investment into PlatinCoin, owing to their lack of compliance with financial legislation and lack of background information. The CEO of PLC Group AG, Alex Reinhardt, was allegedly previously a key team member and an affiliate of SwissCoin, a Ponzi scheme that collapsed just after the incorporation of PLC. 

Reports indicated that this scheme is allegedly sheltered behind the guise of renting ‘state-of-the-art’ (but ultimately valueless) equipment in order for users to mint PlatinCoin coins, for thousands of Euros. Consumers reported that the organisation is hidden behind a string of shell companies littered around the world, from Dubai, to Switzerland, and from Hong Kong to Slovenia. 

Working with a rudimentary calculation, we can estimate that anywhere from 24m USD to 100m USD has been allegedly accumulated by PLC Group AG since it began the PlatinCoin project in July 2017.

Join our class action with confidence to recover financial losses associated with PlatinCoin, and halt this allegedly fraudulent scheme.