Private Equity Scam: When 'Private Equity' Is Just a Label for Fee Collection

Private equity scams involve entities that present themselves as private equity firms or fund managers to collect fees from companies seeking investment. This page examines how the Corinth Group network has used private equity terminology and branding without the substance behind it.

Legitimate Private Equity vs. PE Scams

Legitimate private equity firms manage pooled investor capital, deploy it into portfolio companies, and earn returns for their investors. They are typically registered with financial regulators, have audited track records, employ investment professionals with verifiable credentials, and generate returns by actually completing transactions.

PE scams, by contrast, use private equity terminology and branding to create an impression of institutional investment capability. They may register corporate entities with names including “Investment Holdings,” “Capital Group,” or “Investment Services” without actually managing any investment capital. Their revenue comes not from investment returns but from upfront fees charged to companies seeking financing.

The Corinth Group's PE Presentation

The Corinth Group's entity names suggest a sophisticated investment operation: “Corinth Investment Holdings AG,” “C-Capital Group AG,” “Corinth Investment Services AG,” “Corinth Investments AG.” The websites (cgoch.com, corinthinvest.com) present the group as a professional investment firm with international operations [cgoch.com; company registrations].

However, key elements expected of a genuine PE firm are absent:

• No fund: The only investment fund associated with the network — the Corinth Capital RAIF in Cyprus — had its managing entity's license revoked by CySEC in October 2022 and was dissolved in January 2023 [CySEC AIFM register]
• No track record: No completed investment transaction has been documented across any brand identity (Curatio Capital, Arcis Consortium, Corinth Group, Three Tuns) [Investigation analysis]
• No regulation: No entity holds FINMA, FCA, or CySEC authorisation. The only license ever held was revoked
• No audited returns: No published performance data, no audited financial statements showing investment returns

The Morepen Deal

One transaction that appears in public records involves Morepen Laboratories Ltd, a BSE/NSE-listed Indian pharmaceutical company. Three Tuns Investment Holdings Ltd holds shares in Morepen [Companies House filings]. However, this single shareholding — in a publicly traded company — does not constitute evidence of a functioning private equity operation that manages client capital and completes financing transactions on behalf of fee-paying clients.

Verification Steps

Before engaging with any entity claiming to be a private equity firm: (1) Check regulatory registration with FINMA, FCA, CySEC, or the relevant authority; (2) Request audited financial statements; (3) Ask for a track record of completed transactions with verifiable references; (4) Verify claimed team credentials independently; (5) Be sceptical of firms that charge upfront fees to the companies they claim to invest in — legitimate PE firms invest capital, they do not charge targets for the privilege.

Key Facts

• Entity names suggest PE capability: 'Investment Holdings', 'Capital Group', etc.
• No current regulatory authorisation in any jurisdiction
• Only fund (Corinth Capital RAIF) — license revoked, fund dissolved
• Zero completed financing transactions documented across 12+ years
• No audited financial statements or published performance data
• Morepen Labs shareholding does not evidence a functioning PE operation
• Legitimate PE firms invest capital — they don't charge targets upfront fees

Complaint Reports

People Involved

Related Entities

Related Investigations