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  "documentTitle": "Eurofins Scientific SE (ERF)",
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      "text": "Dr. Martin appears to have been covertly enriching himself by peeling off real estate portions of Eurofins’ M&A transactions as early as 2005.",
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      "text": "Loan-to-Value: 101%",
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      "text": "All of the above are Muddy Waters Research estimates using, where applicable, a combination of county property records, a leading real estate industry database, and subsidiary financial statements.",
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      "kind": "paragraph",
      "text": "However, it is plausible that Dr. Martin paid Eurofins nothing at all for the Lancaster site: We question whether Dr. Martin ever actually paid Eurofins the $23.75 million for the Lancaster property.",
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      "text": "4 Eurofins acquires Lancaster Labs from Thermo Fisher for $200mm... 5 Lancaster County Deed... 6 Corporate Mortgage Lancaster County...",
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      "text": "Hermann Debroux Real Estate Invest SRL | 90% | 5 | 4.5 | 2014 | Number of assets | 22 | Average Loan-to-Value | 101% | Median Loan-to-Value | 92%",
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