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  "documentTitle": "CPI Property Group (CPIPGR)",
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  "authorName": "Muddy Waters Research",
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  "presentationDate": "2023-11-21 00:00:00",
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  "notes": "The slide uses investigative research to link nominee directors to a primary beneficiary, suggesting deliberate concealment.",
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      "text": "We suspect this delayed reporting was a deliberate attempt to conceal another Vitek associate (in addition to Tomáš Rybár) at MGI.",
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      "text": "Marc Gilbert International (MGI), a UK entity, held CPI Hotels. At the time of the acquisition, the UK Companies House identified MGI's sole shareholder as Stephanus Janke. Janke had been appointed Director in October 2015.",
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      "text": "In June 2017, a Companies House filing retroactively reported Savic had acquired significant control (i.e., 75% or greater interest). We suspect this delayed reporting was a deliberate attempt to conceal another Vitek associate (in addition to Tomáš Rybár) at MGI.",
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      "text": "Savic is a Czech national living in Prague. As we show infra, he is the sole managing director of Vent s.r.o., with multiple points of contact with CPI PG and is likely under its influence.",
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      "text": "Janke was a nominee director/ shareholder and apparently a Vitek proxy. An examination of Janke's history in the UK Companies House suggests that he plays the role of a professional nominee director, with dozens of positions in UK companies—despite Janke's residency in Hartbeesport, South Africa.",
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      "text": "On February 9, 2016, Janke—as sole shareholder—gave Tomáš Rybár, an attorney with a long history of representing Vitek, power of attorney to conduct the company's business at all general meetings during the year.",
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      "text": "In April 2016, another sole shareholder change was made, but Janke remained a Director. According to UK Companies House, Vladimir Savic became the new owner; however, this would not be recorded until June 2017, a year after the CPI Hotels acquisition.",
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      "text": "1-6: Citations for Companies House filings and news reports.",
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      "kind": "title",
      "text": "Marc Gilbert International: A Controlled Entity",
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