This website is a citizen journalism project investigating various allegations that have been made against Luxembourg bond issuer CSM Securities Sarl and its U.K. agent Regal Consultancy International Ltd.
Complaints have been filed with the Serious Fraud Office and the Financial Conduct Authority in the UK. Legal pleadings have been made in Luxembourg. CSM Securities bonds on the Frankfurt and Vienna Exchanges were delisted in August 2024 — and the bondholders were never notified.
It is believed that both CSM Securities and Regal Consultancy International are continuing to offer various financial products to the public.
Fraud Alert News believes that the matters covered in this investigation are matters of public interest and are being published explicitly to prevent financial harm.
🚨 Latest Update
This section will contain the latest news update. Check back for ongoing coverage of this investigation.
Investigations
Use the navigation above or the cards below to explore each strand of this investigation:
CSM Securities Sarl
The Luxembourg bond house at the centre of a storm. How a bond promising up to £100m raised only £11m — and then defaulted.
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Regal Consultancy International
The silent conduit: how an £87 million phantom bond raise was allegedly marketed as near-fully subscribed.
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Keydata & Lifemark
The history of the £475m Keydata collapse and the Luxembourg vehicle Lifemark S.A. — and why they matter now.
Read History →
Von der Heydt
The 250-year-old bank brought down by alleged illegal trading. The link between Michael Gollits, VDH — and CSM Securities.
Read History →
Right of Response
Responses from the subjects of this investigation. Victim statements and testimony from those affected.
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Document Store
The evidential record: CS001–CS023. Court pleadings, regulatory filings, bond prospectuses and conference call transcripts.
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