12.27.2022 – One of the American investors, Mr. Sean Grusd, who invested with us in the Czech Republic, personally defrauded our EDIFICE Group and its ultimate owners. This investor committed to invest in several of our projects, but it was later discovered that the money he used was of unclear origin.
During the past year, Mr. Grusd provided EDIFICE Group with a number of financial obligations and signed binding contracts, according to which he was obliged to provide the companies with financial supplements outside of the share capital and to pay the purchase prices for the shares in the acquired companies. Mr. Grusd did not fulfill a substantial part of these obligations and was late in paying them.
In the third week of December 2022, we learned that Mr. Grusd does not have the resources and necessary funds to pay his obligations to the group companies and its ultimate owners, and he will not pay these obligations to our group.
This default concerns the following entities, in which Mr. Grusd is a partner together with Edifice Investment, s.r.o.; EDIFICE Milovice Industrial, sro, Edifice Pstruží, sro, EDIFICE Nola Dubí, sro and EDIFICE Na Ostrůvku, sro.