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Erscheinung:12.03.2021 | Topic Unauthorised business Anglia Real Estate Ltd. Concept & Co. KG: BaFin orders cessation and wind-up of unauthorised deposit business

During an on-site operation on 10 March 2021, BaFin ordered Anglia Real Estate Concept Ltd. & Co. KG, Langenhagen, to cease and wind up its deposit business. The company merged with Red Rock Wealth Concept GmbH and continues the business of the latter. Red Rock Wealth Concept GmbH offered so called “Loan Notes” to British Investors and purported to invest the proceeds in real estate.

Anglia Real Estate Concept Ltd. & Co. KG has not been authorised by BaFin pursuant to Sec. 32 German Banking Act (Kreditwesengesetz – KWG) to conduct the deposit business.

By law, the notice from BaFin is immediately enforceable but not yet final.

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