Artūrs Geisari continues to mess with $Crowdestor? SIA Elmets raised €62 658 from $Crowdestor, campaign finished on 08.08.2021

From Crowdestor campaign description about guarantees: "Commercial pledge on 50% of the Borrowers shares" - no such pledge is registered, but instead on 09.08.2021 a pledge was registered to Koronada SIA.

SIA Elmets also has a tax debt of €6213 and 94.9754% of SIA Elments is owned by SIA GST 51,
5.0246% is owned by Edgars Cers and there is lien registered on 09.08.2019 on Edgars shares from VID (Latvian tax authority).

Also interesting that when campaign was placed on Crowdestor, GST 51 had only 2 owners:
- Vladimirs Gasperovičs 50%
- Tauriņš Ritvars 50%

But only 4 days after campaign finished, on 12.08.2021 ownership was changed, and 50% of company was given away to 2 new shareholders:
- Artūrs Geisari 25%
- Iļja Sitovs 25%

Both Artūrs and Iļja are also partners at SIA Nordic Food - company that is selling magic water: be-more.eu - maybe targeting the same audience that invests in Crowdestor?

Of course, there was no mention of Artūrs Geisari in the campaign description and also no mention that Artūrs previously was part of Crowdestor team, and managed Crowdestor SME SIA - company that developed product to automatically score and issue loans to SMEs.

It will be interesting to see if the money borrowed will be paid back, but if we look at history and take into account following:
1. Artūrs Geisari was head of Monify, borrowed lot of money from different platforms to lend out and created a bad quality portfolio. Company failed, and it is rumoured that investors will lose about € 2 million.
2. Artūrs Geisari was leading Crowdestor SME automation product development, but after internal conflict left Crowdestor with lot of money burned, a product not used and a tax debt of €170k.
3. Crowdestor has not learned from it's mistakes and still is not registering pledges, just writing false claims in project descriptions.

My guess - this will be another problematic case where money is basically donated.


Enforcement procedures have been initiated against AS Lumen Investments (AS Monify):

We continue to inform you about any development in the relationship with the originators on iuvo.
Based on the claim filed a few months ago in the court in Estonia, judicial proceedings were initiated against AS Lumen Investments (AS Monify), on which the judgement is in favor of iuvo. On the basis of this judgement, enforcement procedures have been initiated against AS Lumen Investments on the territory of the Republic of Estonia and the Republic of Latvia.
We are reminding you that AS Lumen Investments is the new name of AS Monify. After the annex signed last year between iuvo and the credit company, regulating the repayment of their debt to the investors by equal installments, the first out of three payments was made but unfortunately, the company stopped fulfilling their obligations to the platform after that. This forced us to take immediate legal actions against AS Lumen Investments (AS Monify) in order to protect the interests of the investors on the iuvo platform.


Artur Geisari is leaving $Crowdestor ship: "starting from 16.03, CROWDESTOR terminates collaboration with Artur Geisari, who has been taking the role of Head of SME at CROWDESTOR for the last year. We want to thank Artur for the work done as a part of the CROWDESTOR team and wish him all the best in his upcoming plans and challenges."

Artur's statement: In the financial world, reputation is of great importance. Due to various external reasons, misleading conclusions, and unfounded public allegations my reputation was damaged. And this also creates a negative impact on the CROWDESTOR platform. I don’t agree with speculations and conclusions, yet I cannot ignore the fact in itself. And action is needed.

Because I do care about CROWDESTOR, investors' community, and the industry as a whole, I see stepping down from my position as a Head of SME is the only right decision.

I will stay within the industry, remain publicly available and our paths will cross once again. I hope at better circumstances.

It was an honor to be part of the CROWDESTOR team and community.