ID Finance Spain
What's going on with ID Finance Spain? They are paying 150k € per week, which is basically nothing. Are they going the same way as ID Finance Mexico?
My sum of pending paymets and "in recovery" payments is about the same the sum of all the profits made in 5 years...
Es una auténtica tomadura de pelo a los inversores.0
Please see the latest update here: https://www.mintos.com/blog/wp-content/uploads/2022/07/Pending-Payments-report_08072022.pdf
The case was escalated and a meeting was held between ID Finance CEO Boris Batin and Mintos CEO Martins Sulte. There is no deterioration in the loan portfolio quality or the financial stability of the company. However, there has been a significant decrease in investments on Mintos over the last few months since the war in Ukraine broke out. The company has had to repay considerable amounts to investors, which has been challenging without harming the business. Since 24 February, ID Finance has transferred €7.4 million to investors, but currently there are still pending payments outstanding. To remedy the situation, ID Finance and Mintos agreed in the meeting to restructure the current pending payments to give time for the company to attract additional funding. This approach offers the best chance of fully recovering the outstanding amounts. The details of the plan will be worked out next week, and the plan will be shared with investors no later than 22 July. Tentatively the outstanding pending payments will be covered by 31 Dec 2022 at the latest. To compensate investors for rolling over their investments, the interest rate will be increased significantly to above the current market rate (tentatively to 17-18%).0
Hello, the date of July 22 has passed. Do you have the plan to share with us?
thank you for your reply0
Mintos fails again with communications about our invested and withheld money for no apparent reason (ID FINANCE continues to have active loans when it owes a lot of money to investors). Smells too much like a Ponzi Scheme.0
Thank you for your comments. Please note that in the recent updates we shared that the details of the plan will be shared with affected investors via email on 22 July and you should have received it if you are holding investments in loans issued by ID Finance, Spain and/or Mexico. The pending payments for ID Finance have been restructured, and if for some reason you haven't got this message, please let us know via this form: https://help.mintos.com/hc/en-us/requests/new.-1
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