Core Capital Partners AG - Investment fraud

Core Capital Partners AG (CCP AG) was an asset management firm that promoted profitable investments in the medical, technical and biotechnology sectors. CCP AG was founded by Martin Gloor, who became known as the President of the Zurich Rennverein. With the motto "I'm in the same boat as the investors" he won the confidence of over 150 investors. In fact, Gloor unlawfully enriched himself with client funds with margins of up to 50% and sold shares on a large scale which did not belong to him at all.

Core Capital Partners AG (CCP AG) was registered in the Commercial Register of the Canton of Zurich on February 2, 2007. Its founder, Martin Gloor, was not only a financier, but also president of the Zurich Rennverein. On the racetrack, Gloor probably met some of his clients, whom he led to believe that he had invested his own money on the same terms in the companies he was promoting.

In fact, Gloor was not invested with his own funds, but illegally charged margins of up to 50% from client funds and sold shares that did not belong to him, in the amount of CHF 10 million. Gloor advised more than 150 investors and deceived around 40 of them by CHF 20 million.

"Gloor advisd more than 150 investors and deceived around 40 of them by CHF 20 million"

Gloor was doomed by his extravagant lifestyle with luxury cars, race horses, an expensive motorboat and real estate abroad. For his excessive cocaine consumption alone, Gloor spent CHF 20,000 a month.

When Gloor's scams were discovered, he was arrested on 05.12.2011. Subsequently, Gloor spent a long period of time in custody, where he made a full confession, namely he admitted to multiple frauds and the misappropriation of client funds.

In December 2013 Gloor was sentenced to four and a half years imprisonment in an abridged trial. In addition, the criminal court imposed a five-year ban on acting as a financial intermediary. The civil claims were referred by the criminal court to civil proceedings. The aggrieved investors therefore had to pursue their claims through civil proceedings.