While the real estate group remained unnamed in the public prosecutor’s press statement, it is widely believed to be Cenaro. The group’s CEO, Christophe Chevallier, last month had announced the group’s bankruptcy, which was recorded in the trade and companies register on 26 January.
Complaints lodged with the Luxembourg justice system triggered a judicial investigation for breach of trust, fraud, forgery, misuse of company assets and fraudulent bankruptcy. The investigation intends to shed light on the circulation of capital within the group.
Around 40 investigators from the judicial police on 1 February carried out “searches in financial establishments, offices and homes in the judicial district of Luxembourg”, the public prosecutor said. Objects, documents and assets were seized.
One person was arrested and presented to an investigating judge, who ordered their detention.
The public prosecutor’s office did not disclose any further details on the case, nor on the identity of the person arrested. Despite the arrest, “by virtue of the principle of presumption of innocence, any person who is accused of an offence is deemed innocent until proven guilty by law,” a spokesperson said.
This article was originally published in Paperjam. It has been translated and edited for Delano.