Advisors at One Square express profound surprise over the detainment
Title: One Square Advisors' Managing Partner Arrested Amidst Allegations of Investor Harm
In a shocking development, One Square Advisors, a leading consulting firm, has confirmed the arrest of its Managing Partner, Frank Günther. Co-CEO Wolf Waschkuhn, in a statement, expressed dismay, asserting that they are confident the accusations aimed at Günther will be found baseless.
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The public prosecutor's office apparently alleges that Günther intentionally caused harm to investors during Sympatex's restructuring, according to "Handelsblatt." The prosecutor has remained tight-lipped about the specific charges against him. The Sympatex saga involves claims of investors being misled about the company's true financial status. Günther served as the joint representative of the mini-bond subscribers from Sympatex, who agreed to a drastic 90% debt reduction in 2017, significantly impacting their investments.
Investigators suspect that the bondholders may have been coerced into the debt cut, threatening them with potential insolvency and even worse terms. Reportedly, the prosecutor's office assumes that Sympatex owners Stephan Goetz and Stefan Sanktjohanser acquired bonds through shell companies to garner majorities for the vote on the debt cut. Goetz and Sanktjohanser were taken into custody as part of the investigation, with Goetz's detention order being suspended on bail this week. No charges have been filed yet. It is also alleged that Goetz and Sanktjohanser received funds for the transaction from a family office of the Otto family, with Goetz being married to a member of the Otto family.
Business Unaffected
One Square assures that their firm stands for innovation, quality, and unwavering commitment to clients, whose trust in their honesty and integrity has never been questioned. In the wake of the arrest, numerous clients have reached out to the management team to show solidarity and offer support. According to the statement, there has been no discernible impact on their business, and Waschkuhn expects this trend to continue.
In the Sympatex case, several individuals are being probed, such as fraud, market manipulation, and breach of trust. It is known that all suspects, including Goetz and Sanktjohanser, deny the allegations. Goetz and Sanktjohanser are well-known figures in the industry, having founded the consulting firm Goetzpartners. Kartesia, an investor, has entered Goetzpartners, and the consulting firm's management has participated through a management buy-out.
The latest developments in the Sympatex saga suggest that the public prosecutor's office is alleging that One Square Advisors' Managing Partner, Frank Günther, intentionally caused harm to investors during Sympatex's restructuring, as reported in Handelsblatt. This case involves the investigation of several individuals for allegations of fraud, market manipulation, and breach of trust in the finance and business sectors, with Günther being one of them.
