Dormant Company Acquisitions: Creating False Corporate Heritage

dormant company acquisition fraud shell company fraud dormant company scam company acquisition fraud
6+Fraud Reports
7Jurisdictions
12+Years Active
0Known Funded Deals
0 currentRegulatory Licences

The acquisition of existing dormant companies — rather than incorporating new ones — can create a misleading impression of corporate longevity. This page examines the practice and how it appears in the Corinth Group network.

How It Works

A dormant or inactive company with a long registration history is acquired, renamed, and presented as if it has been operating under its new identity for the full period of its registration. A company registered in 1977 and acquired in 2018 may appear to have 40+ years of corporate history — when in reality its current form has existed for only a few years.

The Corinth Group Pattern

Five of the six Corinth Group Swiss AGs are documented dormant company acquisitions:

  • Corinth Investment Holdings AG (CHE-102.223.770) — formerly Photo Max Wagner AG (1977), then Centra Investment AG
  • Corinth Management Services AG (CHE-103.982.016) — formerly Mario Poltera Architekturbuero AG, then Rhea Investments AG
  • C-Capital Group AG (CHE-108.684.891) — formerly CCG Curatio Capital Group AG
  • C-Software Solutions AG (CHE-101.372.769) — formerly Raytrad AG
  • Corinth Investments AG (CHE-114.816.959) — formerly Gabari SA

In the UK, twenty or more companies were batch-incorporated on 19 May 2019 and subsequently renamed as part of the Three Tuns structure [Swiss Commercial Register, Companies House].

Red Flag

Dormant company acquisition is legal in both Switzerland and the UK. However, when combined with unverified claims of long-standing operations and no current regulatory authorisation, it becomes a significant due diligence red flag.

Key Facts

  • 5 of 6 Swiss AGs are documented dormant company acquisitions
  • Photo Max Wagner AG (1977) → Corinth Investment Holdings AG
  • Mario Poltera Architekturbüro AG → Corinth Management Services AG
  • 20+ UK companies batch-incorporated 19 May 2019, then renamed
  • Legal practice, but a due diligence red flag when combined with other indicators

Complaint Reports

Ripoff Report #1134964 (March 2014) Ripoff Report #1344693 (2016) Ripoff Report #1354982 (2024, Toronto — Dale Changoo) Diebewertung.de — EUR 1.5M loss

People Involved

Martin Walter Model Alec Theunissen Jurate Kairiene

Related Entities

Corinth Investment Holdings AG Three Tuns Investment Holdings Ltd C-Capital Group AG

Related Investigations

Advance-Fee Fraud: The Mechanism Behind the Corinth Group Allegations Advance Fee Fraud Warning Signs Advance-Fee Fraud Warning Signs: 12 Red Flags That Should Stop You from Paying Advance Fee Scam: How It Works Companies House: Checking for Fraud Red Flags Corporate Funding Fraud: Advance Fee Schemes Corporate Funding Scam: Promises of Institutional Financing That Never Arrives Cost Contribution Fraud: Rebranding Advance Fees as Legitimate Business Expenses

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