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  "docSlug": "631c22c05486",
  "documentTitle": "CPI Property Group (CPIPGR)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Muddy Waters Research",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-01-25 00:00:00",
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  "notes": "The slide uses a snippet of a French financial document and its English translation to point out the seller's privilege.",
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      "text": "The KALOIKOS company, seller of building I, benefits from a seller's privilege for an amount of 4 million euros in second place behind the PPD and the mortgage allocation (in the amount of €3,545K) for the benefit of Société Générale Private Banking Monaco.",
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      "text": "\"The bank Société Générale Private Banking Monaco benefits from the Privilege of Lender of Deniers (PPD) for the loan granted for the two buildings for the principal sum of 8,545,000 euros...\"",
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      "text": "Les Mas de Figuier's 2013 financials state that the seller was an entity called Kaloikos.",
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      "text": "The bank Société Générale Private Banking Monaco benefits from the Privilege of Lender of Deniers (PPD) for the loan granted for the two buildings for the principal sum of 8,545,000 euros as well as a conventional mortgage of 1st rank on the building I to amounting to 2.5 million euros (financing renovation work). The KALOIKOS company, seller of building I, benefits from a seller's privilege for an amount of 4 million euros in second place behind the PPD and the mortgage allocation (in the amount of €3,545K) for the benefit of Société Générale Private Banking Monaco. — Les Mas du Figuier SAS (France) auditor's report on the annual accounts, Dec 31, 2013",
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      "text": "¹ Les Mas du Figuier SAS (France) auditor's report on the annual accounts, Dec 31, 2013",
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      "kind": "title",
      "text": "Villa Mas du Figuier – Suspicious Seller",
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      "evidence": "The presentation of evidence supporting the concerns about CPI Property Group S.A.'s financial transactions and governance.",
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      "objective": "What happened to the other ~€20 Million?",
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