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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 a corporate structure diagram to imply that the 'arms-length' entity is actually controlled by a single individual.",
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      "kind": "diagram",
      "text": "Ownership structure showing Seller -> Tahoe Invest -> WXZ1 -> Immofinanz Shares",
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      "text": "In 2020 and 2021, an apparent arms-length entity called WXZ1 a.s. (\"InvestCo\"), acquired 14,071,483 shares of Immofinanz A.G. ... InvestCo was solely owned by an apparent arms-length individual (\"Seller\") through the intermediate holding company Tahoe Invest a.s.",
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      "kind": "quote",
      "text": "Akcionář čestně prohlašuje, že je jediným akcionářem akciové společnosti WXZ1 a.s. — Czech Commercial Register filing for WXZ1 a.s.",
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      "text": "1 WXZ1 a.s. Financial Statements 2020 and 2021... 2 https://or.justice.cz/ias/ui/vypis-sl-detail?dokument=67652208&subjektId=1085661&spis=1216850",
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      "kind": "title",
      "text": "WXZ1 – Step 1",
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