Corinth Fund Management: The Only Licence — Granted and Revoked in 7.5 Months

Corinth Fund Management Ltd was the only entity in the Corinth Group network to ever hold a regulatory licence. The CySEC AIFM authorisation lasted 7.5 months before being revoked. This page documents the timeline, the associated RAIF, and what the revocation means.

The CySEC AIFM Licence

Corinth Fund Management Ltd (HE 428770, Cyprus) was granted an Alternative Investment Fund Manager (AIFM) licence by the Cyprus Securities and Exchange Commission (CySEC) in February 2022. The licence number was AIFM48/56/2013. This was the first and only time any entity in the Corinth Group network — across all brand identities and jurisdictions — held a regulatory authorisation from a financial services regulator [CySEC AIFM register].

On 3 October 2022 — just 7.5 months later — CySEC revoked the licence. An AIFM licence revocation in under 8 months is extraordinarily rare. For context, the CySEC licensing process itself typically takes 6–12 months, meaning the licence was held for barely longer than it took to obtain [CySEC decision register].

The Corinth Capital RAIF

The licence was connected to the Corinth Capital RAIF V.C.I.C. Ltd (HE 409232) — a Registered Alternative Investment Fund. RAIFs in Cyprus are lightly regulated vehicles that require an authorised AIFM as their external manager. When CySEC revoked the AIFM licence, the RAIF lost its regulatory umbrella. The Corinth Capital RAIF was subsequently dissolved in January 2023 [Cyprus Department of Registrar].

The External Manager: SCSS Fund Management

Before obtaining its own AIFM licence, the Corinth Capital RAIF was managed by an external AIFM: SCSS Fund Management Ltd (Nicosia). SCSS was directed by Socrates Fekkas, who was simultaneously CEO of the major forex broker EXNESS. Fekkas held dual roles — managing the Corinth RAIF through SCSS while running a high-volume forex operation — creating a potential conflict of interest that has not been publicly addressed [CySEC register, Cyprus corporate filings].

Cyprus Network: Directors and Secretaries

The Corinth Cyprus entities were connected to a network of local service providers:

• Andreas Matsas — Director of GMM Fund Management, linked to approximately 57 Cyprus companies. Tagged by OffshoreAlert investigative service.
• Charalampos Stefanou — Of Skordis & Stefanou LLC, served as corporate secretary for Corinth Cyprus entities.
• Conrad Weinmann — Swiss lawyer (Dr. iur.) with Graubünden connections, linked to the RAIF co-director network.

What the Revocation Means

A CySEC AIFM revocation means the entity can no longer manage alternative investment funds in the EU. It is published on the CySEC decision register as a matter of public record. Any ongoing use of the Corinth Group brand in marketing materials that references “registered and licensed investment funds” — as cgoch.com does — is referencing a licence that no longer exists and was held for less than 8 months.

Timeline

• ~2013: Application reference AIFM48/56/2013 filed with CySEC
• February 2022: AIFM licence granted to Corinth Fund Management Ltd
• August 2022: Three Tuns Trade & Investment Holdings Ltd incorporated in UK
• 3 October 2022: CySEC revokes AIFM licence
• November 2022: Centropa Investment Holdings Ltd (Marco Model PSC) dissolved
• January 2023: Corinth Capital RAIF dissolved

Key Facts

• CySEC AIFM licence (AIFM48/56/2013) — the ONLY regulatory licence ever held by any Corinth entity
• Granted February 2022, revoked 3 October 2022 — held for 7.5 months
• Corinth Capital RAIF dissolved January 2023 after losing AIFM umbrella
• Three Tuns incorporated August 2022 — 2 months before CySEC revocation
• External manager before own licence: SCSS Fund Management (Socrates Fekkas / EXNESS dual role)
• Andreas Matsas: GMM Fund Management, ~57 Cyprus companies, OffshoreAlert tagged
• cgoch.com still claims 'registered and licensed investment funds' despite revocation

Complaint Reports

People Involved

Related Entities

Related Investigations