Basket / Elan Béarnais: Token Buyers Have Tokens

After several weeks of purchase, most have not received a return of the contract or written proof from the CSG, nor a transaction notice, including a…

Several weeks after the purchase, most had not received a return of the contract or written evidence from the CSG, nor a transaction notice, including a document addressed to the buyer to confirm the transaction had been executed.

Some other potential buyers, who haven’t been charged yet, have submitted all their tax and financial statements online on a platform called “Securitize” but are still waiting for the return and transaction notification and that’s for several weeks.

According to the figures mentioned in recent weeks, 400,000 euros have been subscribed, of which 250,000 euros have already been raised. This means that about 500 people were hoping to take advantage of “benefits close to those obtained by the shareholder through a legal structure that entitles them in particular to confer a portion of the club’s profits”, as stipulated in the announcement still stands. The club’s website, as well as “premium access to the upcoming offer related to the CSG real estate project and the right to vote for the appointment of a director who will sit on the club’s board of directors.”

radio silence

“I see that 450 euros have already been deducted but my wallet is empty of tokens,” this befell one Elan fan who did not hesitate to invest for the love of his club, but regretted it today. bitterly. “I lost over 450 euros, it’s the feeling of robbery which is hard to digest. We have the impression that CSG used us, our naivety, to get the money easily in their coffers. We sent emails to the club, to Greg Heus, to CSG, for clarifications, and we have not received No response, nothing! I know backers – other buyers have asked for their compensation, no answer there too.”

The €250,000 collected by CSG France (see zoom) made it possible to fund all or part of the players’ salaries as of the end of April, while originally, the sums collected through tokens were to be used to develop the club. By raising capital. We are far from that, while, as David Otto has insisted at length to partners, shareholders and journalists during his recent visit to Béarn, a core part of CSG’s economic strategy depends on the income associated with the sale of these popular intangible tokens.

Upon contact, Greg Hughes, CEO and co-founder of CSG, did not respond to our requests.


Buyers of CSG tokens have received transfer instructions.

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Frying on accounts

The source of the tokens that signed the contracts with the French buyers is CPC (CounterPointe Capital), a company under US law that was going to send this money back to “CSG France” to generate the SASP Elan Béarnais capital increase afterwards. The money raised was initially supposed to go back to CPC, which it wasn’t because CPC Bank, which is based in Seattle, was technically unable to transfer money to/from France. Hence the difficulties initially encountered by many potential buyers of tokens. The payments were then made to “CSG France”, whose account is hosted by Crédit Agricole. Payments that alerted the French bank that “CSG France” was, according to a specialist in this type of innovative market, “not intended to receive this type of financial product. This was followed by three weeks of total blockage and increasing distrust from potential buyers.
Today, the bank account that CSG mentioned to make transfers in order to purchase tokens goes to Bank of America via direct debit in Dublin, Ireland.

Monday's error message on the CSG token account consulting platform.


Monday’s error message on the CSG token account consulting platform.

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Testimony of Dominic Grange, President of Beyonce

The Peones Association bought two batches of 500 tokens, its president Dominic Grange recounting the latest adventure: “We recently received an email from Greg Heus asking us to validate our payment when the transfer was made several weeks ago! What we did was re-proof the transfer of two batches of 500 tokens each, For 900€, which clearly states that the beneficiary is CSG and the money has been paid into the Crédit Agricole account.We had no response from Greg Heuss or CSG.The problem is that our tokens account is still not credited.I went there once Others today (yesterday), and now the wallet is no longer accessible, as if there was an error with the site! What we find strange is that we are now also being asked to make a transfer to a US account.”

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