Advisor firm, One Square, conveys surprise at the detention event
Rewritten Article:
Frank Günther, the Managing Partner of One Square Advisors, has been arrested recently, with the firm's Co-CEO, Wolf Waschkuhn, expressing concern in a statement. Despite the situation, One Square stand firm on their values, promising innovation, top-notch quality, and unwavering dedication to their clients.
Financial Turmoil at Sympatex
The public prosecutor's office alleges that Günther intentionally misled investors during Sympatex's debt restructuring process. While the public prosecutor's office declined to elaborate on the specific charges, reports suggest that investors were deceived about the company's true financial status.
In Sympatex's case, there are claims that investors were coerced into accepting a 90% debt cut in 2017, resulting in substantial losses. Investigators believe that this was achieved by threatening bondholders with insolvency, offering even worse terms. Allegations also suggest that Sympatex's owners and accomplices used straw companies to control majorities for the vote on the debt cut.
Investigations and Arrests
Stephan Goetz and Stefan Sanktjohanser, the Sympatex owners, were detained as part of the investigation, though Goetz's detention order was recently suspended on bail. No official charges have been filed yet. It's worth noting that media reports suggest Goetz and Sanktjohanser received funds for the transaction from a family office associated with the Otto family, and Goetz is married to an Otto family member.
Business as Usual?
One Square asserts that their honesty and integrity are beyond question, and they've experienced solidarity and support from numerous clients since Günther's arrest. The firm maintains that they haven't noticed any business impact, nor do they anticipate any at this time.
All Await the Outcome
Investigations are ongoing, with several suspects, including Günther, allegedly being investigated for fraud, market manipulation, and breach of trust. As of now, all suspects have denied the allegations. Goetz and Sanktjohanser are known for founding the consulting firm Goetzpartners. Interestingly, investor Kartesia has entered Goetzpartners, and the consulting firm's management has participated through a management buy-out.
- The arrest of Günther, the Managing Partner of One Square Advisors, has sparked unfounded concerns about the firm's integrity, as expressed by Co-CEO Wolf Waschkuhn.
- In a separate incident, Sympatex, a company known for its finance and business dealings, is under investigation for allegedly misleading bondholders during a debt restructuring process in 2017.
- Sympatex's owners, Stephan Goetz and Stefan Sanktjohanser, have been detained along with Günther, though Goetz's detention has since been suspended on bail.
- Amidst the ongoing general-news investigations, Sympatex is accused of threatening bondholders with insolvency to coerce them into accepting a 90% debt cut, a practice that reportedly involved the use of straw companies to control votes.
- Despite the financial turmoil at Sympatex and Günther's arrest, One Square maintains their commitment to innovation, quality, and client dedication, stating no negative business impact thus far.
