$Lenndy has a tax debt of 9k EUR and website is not available anymore. Investors also report lack of communication. Looks like another questionable P2P platform going down.

Interesting overview of $Lenndy actions:

* 2020-12 lenndy says - we are facing system errors, stay calm. WTF.
* Loan originator SimpleFin gets out, no entry about that in Lenndy blog. Btw 4 loan originators in their statements still.
* Lenndy gives info that First Finance is suspended. They dont give info that its the same group. Same people.
* They rename to Giantus, but in their website First Finance disapears, only Giantus Finance is mentioned. Its before all system errors.
* They give schedules about payments.
* They do not follow schedules, invent pending withdrawals and reserved funds, monopoly money, that's a good name.
* They lie. Its a dodgy, super dodgy way of brainwashing and time buying style. As far as I know, criminal proceedings were started, but to calculate some loss is needed by private persons to calculate the harm and state it.
* Shareholder Teresa Janutienė is an old woman, fictitious shareholder, mother of real brain and chairman of the group. Are we in 90s still?
* Chairman of the board of First Finance, and Giantus Finance left the board just after criminal proceedings started (rekvizitai.lt).
* CEOs and shareholders are enjoying their life with electrocars and luxury lifestyle here in Lithuania. We are small country, its easy to find out.
* Their people are here in this group too, as it is public. Best regards.

We noticed some strange inaccuracies on $Lenndy statistics page:

The cumulative invested amounts reduced by almost 10M EUR.
For example, previously for April the total invested amount was EUR 38636269, today for April it is displaying EUR 29444634. An archive screenshot from January also shows the decrease in cumulative volumes.

Comment from Lenndy: This is because our IT department have transferred all active claim rights with buyback guarantee to “active claims” section and changed the status of loans to “combined loans” regarding this they did not update the statistic so the numbers have increased as the same loans appeared twice in the “active investment” section and “active claims” section.. When we noticed the inaccuracies, our accounting department with the help of IT have updated the numbers to be up to this date.
I have forwarded your concerns to our IT department, to look into this, if the case if different to what I have mentioned above, we will let you know immediately.

Another P2P legal action group is being created. $Lenndy investors are welcome to contact #BulldogP2P to get involved in a law suit. You can reach him on Telegram: @Bulldog_p2p

Lenndy Telegram group: t.me/lenndyP2P

$Lenndy is processing withdrawals for P2P influencers like #BulldogP2P in less than a day: "I sold my portfolio's this morning at a loss. I received the funds this afternoon. Happy to leave and not have to bother any further"

At the same time other investors are waiting for weeks:

$Lenndy is offering investor to exit for 50% discount: "We have received a letter from operator First Finance, stating that they have a buyer, who is interested in buying your published sales in second market with 50% loss."

Note that the same people are behind $Lenndy platform and their Loan Originators, so this communication just like the offer is a joke. But as the team behind $Lenndy has stopped withdrawals and are causing a panic among investors, then getting back at least 50% is something many will consider.

$Lenndy has created payment schedules with following approach:

1. Interest will be calculated only until March 17th, 2021, but payments are planned until March 2024, so basically investors will provide capital for 3 years with no interest at all.
2. Previous agreements will be ignored - repayments won't be based on the loans that investors funded and their performance, but on overall cash-flow from each loan originator.
3. All payment schedules will make small monthly payments, and a very big payment at the end. Is that realistic? Or just another way how to kick the can down the road?
4. The payment schedules have wrong year at the end.. Does not leave a good impression.

First Finance payment schedule in attachment

According to Latvian company register from 02.05.2017 till 24.01.2019 Lenndy SIA was 100% owned by Donatas Šatkauskas, and from 24.01.2019 till today Lenndy SIA is 100% owned by Fintrust group UAB.

Who is behind Fintrust group UAB? Latvian company register says that there are 4 beneficial owners, which means that all of them control 25% of Fintrust group UAB:
2. Teresa Januteniene

In October 2020 Lenndy sent us following comment: "The decision has been made to establish a holding structure – Giantus Group – as a mother company. This means that from now on the shares of P2P lending marketplace Lenndy as well as loan operators First Finance and Daily Credit will be consolidated into Giantus Group."

$Lenndy platform is changing its business model and will no longer sell loans secured by the BuyBack guarantee to investors. Lenndy platform operators re-purchased all loans with „Buyback“ guarantee from Lenndy investors on March 17, 2021. All capital + accrued interest as of March 17, 2021 is redeemed.

* Priority is covering full capital first and after capital is returned in full, the accrued interest will be covered.
* Each loan operator covers liabilities for repurchased claim rights based on its cash-flow.
* Lenndy ensures that all funds, received from loan operators, are distributed to the investors in proportion to the size of their portfolio.
* Following the re-purchase of claims from investors, the loan operators became directly indebted to the investors as legal entities.
* Investors may sell their receivable claim rights which has been re-purchased by operators to other investors in Lenndy secondary market platform.
* Lenndy always monitors cash-flows of loan operators. In addition, Lenndy conducts financial audits of loan operators.
* Lenndy can provide each investor with a detailed list of re-purchased claim rights. Get in touch at [email protected] for detailed information, if required.
* Lenndy initiated all the processes and protects the interests of investors in consultation with the law firm TRINITI JUREX. triniti.eu

From their blog: lenndy.com/blog/67

$Lenndy investors are not happy, considering legal action. Another P2P Titanic?