Helmut Kaltenegger’s TGI AG Ponzi scheme has collapsed.
The identical day TGI AG collapsed on July thirty first, a Belief Gold Worldwide Ltd reboot was introduced.
Kaltenegger operated TGI AG from Austria, nonetheless the corporate’s headquarters have been arrange in Liechtenstein. Kaltenegger additionally seems to have registered a TGI AG associated Dubai shell firm.
TGI AG primarily focused German-speakers in Europe, resulting in a regulatory fraud warning from Austria in April 2026. In neighboring Germany, BaFin banned TGI AG nationwide the identical month.
In June 2026, Kaltenegger was ordered to refund all German resident TGI AG traders. Whether or not he has performed so stays unclear.
Whereas Austria ought to have been main TGI AG investigations, as a substitute it was left as much as Liechtenstein to provoke a prison investigation.
TGI AG’s Liechtenstein places of work have been raided after Public Prosecutors obtained warrants in late Might.
TGI AG’s Ponzi ruse was baloney about gold mining in Ghana and Sierra Leone. Seized proof from the Liechtenstein raids painted a clearer image of TGI AG’s fraud, particularly the absense any proof demonstrating investor funds being despatched to Africa to buy gold.
As a substitute Liechtenstein’s investigators uncovered a Dubai cash laundering path by Austrian registered “trustees and development firm” accounts.
It’s in opposition to the backdrop of Liechtenstein Prosecutors constructing a prison case that the next message was displayed on TGI AG’s web site on July thirty first;
Expensive Prospects, Expensive Companions, Expensive Referrers, Expensive Colleagues,
As of right this moment, July 31, 2026, TGI AG Liechtenstein will stop its enterprise operations.
Collectively with TRUST GOLD Worldwide Ltd, we’re embarking on a brand new worldwide journey.
Traders with funds locked up in TGI AG have been given two choices:
- roll over TGI AG investments into Belief Gold Worldwide Ltd; or
- request a refund.
Maybe anticipating the vast majority of TGI AG traders in search of to money out, TGI AG’s withdrawal choice has an important catch;
We count on a processing time of 6 to eight weeks.
This seems to be a time-buying stall tactic. The cash isn’t there to pay out so we’re anticipating extra excuses after 6 to eight weeks.
Belief Gold Worldwide’s web site area (“trustgold.worldwide”), was solely just lately registered by “Udo Duha” on July thirtieth, 2026.
Belief Gold Worldwide’s web site defaults to German. Kaltenegger is cited as Belief Gold Worldwide’s “founder and proprietor”. Mark Bogen is CEO and Robert Weik, “lawyer”.
Within the footer of Belief Gold Worldwide’s web site, we be taught a minimum of two new shell corporations have been arrange in Mauritius;
TRUST GOLD Worldwide Ltd, (previously INVICTA Markets Ltd,), c/o Legacy Capital Co Ltd. … Republic of Mauritius.
Neither TGI AG or Belief Gold Worldwide are identified to have precise bodily enterprise operations in Mauritius, a tiny remoted island nation off the coast of Madagascar (east Africa).
Mauritius is a tax-haven with no identified lively identified regulation of MLM associated fraud. Any MLM firm claiming to be based mostly out of Mauritius raises fast fraud and cash laundering considerations.
Reflective of TGI AG’s fraud persevering with by Belief Gold Worldwide, the web site footer additionally states;
The content material of this web site shouldn’t be meant for people within the following nations:
Principality of Liechtenstein, AFG, BLR, CAN, CAF, CHN, CUB, COD, ETH, HKG, IRN, IRQ, LBN, LBY, LIE, MLI, MMR, PRK, RUS, SOM, SSD, SDN, SYR, UKR, ARE, USA, VEN, YEM.
TRUST GOLD Worldwide Ltd doesn’t function in these nations and doesn’t promote any merchandise there.
Neither Austria or Germany are on the listing regardless of regulatory motion and ordered refunds.
Perusal of Belief Gold Worldwide’s web site reveals it’s the identical gold-ruse funding fraud, though no greenback particular funding tiers are supplied.
Passive returns of as much as 4% a month for twenty-four months are marketed. There may be additionally no point out of TGI AG’s MLM compensation plan.
Maybe giving the funding fraud away, the “purchase gold” part of Belief Gold Worldwide’s web site states;
This product (Belief Gold gold bars) is proven for illustrative functions solely; it’s not out there for buy.
Belief Gold Worldwide advertising and marketing displays seem like hosted by Jurgen Rehbein and Franz Springer:
Rehbein and Springer are each believed to reside in Germany, the place TGI AG and by extension Belief Gold Worldwide stay banned nationwide.
The Liechtenstein investigation has up to now uncovered round €31.3 million euros in losses, a minimum of €5.9 million of which is confirmed to have been misappropriated by Kaltenegger and his spouse.
With Belief Gold Worldwide setting the stage for continued fraud, what number of extra hundreds of thousands customers have to lose earlier than Austria takes additional motion stays to be seen.
The result of the continued Lichtenstein investigation into TGI AG and Kaltenegger stays pending.
