What Happened to Pytheas Investment?

The Pytheas group of entities, primarily associated with H. Samaras (Greek-Cypriot, Chairman), operated in parallel with the Corinth Group network and is referenced in multiple independent fraud reports alongside the Corinth entities. [Source: Companies House, Cyprus Registrar of Companies]

Cyprus Entities

Pytheas (Cyprus) Limited (HE 159209) is dissolved. Pytheas EXT. (CY) Ltd (HE 372384) shows its last update in January 2018 but is listed as active. H. Samaras co-operated these entities from 3 Ioannis Sykoutris Street, Nicosia 1076, Cyprus. [Source: Cyprus Department of the Registrar of Companies]

UK Entity

Pytheas Holdings Limited (UK company 10165617) remains active and is registered at 4 Cavendish Square, London W1G 0PG. This London address is a premium serviced office location. The relationship between this UK entity and the dissolved Cyprus entities requires further investigation. [Source: Companies House]

Announced Deals

Through the Pytheas entities, two major investment deals were publicly announced. First, a $100 million investment in Morepen Laboratories Ltd (India, BSE/NSE listed) — Corinth Investment Holdings AG was approved for a 9.31% equity stake via SEBI/BSE/NSE in April 2021, generating significant media coverage describing Corinth as "a global private investment Group." However, Corinth Investment Holdings AG does not appear in Morepen's December 2025 shareholding pattern. Second, a $64 million acquisition of Addvalue Technologies (Singapore, SGX listed) was announced — no evidence has been found that this deal was completed, and no SGX substantial shareholding notices have been found linking Pytheas to Addvalue Technologies. [Source: BSE/NSE filings, Morepen annual reports, SGX announcements]

Complaint Report Connections

H. Samaras is named jointly with Martin Model in multiple third-party fraud reports filed on Ripoff Report and Diebewertung.de. One report from the Verbraucherschutzforum Berlin is titled "Harris Samaras Pytheas Cyprus — no man of my confidence." These are attributed third-party statements. [Source: Ripoff Report, Diebewertung.de, Verbraucherschutzforum Berlin]

All Pytheas entities in Cyprus and the UK are either dissolved or show minimal recent activity, while the Corinth/Three Tuns entities continue to operate under the same alleged controlling individuals.

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