Cyprus Investment Scam: RAIF License Revoked

cyprus scam cyprus fraud warning cysec revocation
6+Fraud Reports
7Jurisdictions
12+Years Active
0Known Funded Deals
0 currentRegulatory Licences

A warning about investment schemes using Cyprus RAIF structures, illustrated by the CySEC enforcement action against Corinth Group of Switzerland entities.

What Happened in Cyprus

The Corinth Group of Switzerland established fund entities in Cyprus under the RAIF framework. The external manager, SCSS Fund Management Ltd, held AIFM license AIFM48/56/2013 from CySEC. This license was revoked, and the Three Tuns Capital RAIF F.C.I.C. PLC was ordered into liquidation [CySEC AIFM Register].

The Cyprus Citizenship Connection

Cyprus formerly operated a Citizenship by Investment programme that was abolished following widespread criticism. Some complainants in the Corinth Group investigation allege that investment proposals referenced opportunities connected to Cyprus. The timing of entity registrations in Cyprus and the citizenship programme period overlap, though no direct connection has been established by this investigation [CySEC; European Commission reports on CBI programmes].

Reporting to CySEC

The Cyprus Securities and Exchange Commission accepts complaints through its website. Affected persons should provide: details of the investment entity, term sheets or contracts signed, evidence of payments made, and any communications received. CySEC has the power to investigate, impose fines, and refer matters for criminal prosecution under Cyprus law.

Key Facts

  • AIFM license revoked, fund liquidated
  • Cyprus CBI programme now abolished
  • CySEC accepts complaints online

People Involved

Have You Been Affected?

If you have information about any of the people or entities described on this site, your account could help ongoing investigations and other affected parties.

Contact Us Confidentially