By akademiotoelektronik, 29/08/2022

Swoon: a complaint against X filed on behalf of 19 people | iGeneration

Things are changing in the case of Swoon, this fintech which closed its doors at the beginning of August, leaving some of its customers without news of their savings. Faced with the lack of progress in the case, former clients organized themselves to take the case to court. A complaint against X was filed on behalf of 19 people with the National Financial Prosecutor's Office. She is supported by the France Conso Banque association as well as by two lawyers.

Swoon's ambition was to offer a very advantageous savings of 3% to its customers. To finance itself, the group relied on 5% loans made to small businesses generally shunned by traditional banks. The establishment had finally closed suddenly last August. Since his brief reappearance in September, the company's founder has not been heard from. Mail from customers intended for the head office is returned undelivered.

According to the complaint, several million euros remain untraceable. Nine counts of offenses are mentioned there, including “fraud”, “breach of trust”, “misleading commercial practices” but also “unlawful use of expressions with a banking connotation or misuse of the qualifier of bank”. The company presented itself as a real bank in its communication even though it did not have a banking license. This complicates warranty and refund issues for customers.

The file is not going to be simple. "This is a complex case where you have to go back to the main leaders and dissect this whole sector", explain the group's lawyers to La Dépêche. Swoon was based on three different companies, making it difficult to track funds. The complaint specifies that a "complete transfer of available funds to an account located in Lithuania" was observed a few days before the bankruptcy filing. At least 200 people are involved in the case according to lawyers, and former clients have until the end of January to join the class action.