These probes have not uncovered any wrongdoing, but goings-on at Berlin-based Picam show signs of concern, says a report in the German business and financial news Handelsblatt Global, who say that have a daily readership of one million.

The firm being reported on promised investors returns of 15 to 20 percent at a time of negative interest rates, consistently reported fabulous gains and even honoured redemptions for those desiring to take out their money – until last year, when it all came to a crashing halt.

On the hook are as many as 3,000 customers who have invested about €300 million, many through several dozen advisers in Germany, and are now chasing their money as Picam, the funnel for German investment funds and Piccor, the supposed manager of these funds in Switzerland, prove elusive, the report claimed.

19-01-18 PANORAMAdailyGIBRALTAR