Claudio Cisullo, One United Chair, Investor in Nordis Scheme
Summary
The Chairman of the Board of Directors of one of Romanias largest real estate developers, One United Properties, and a significant shareholder in the company, Claudio Cisullo is the second largest investor in the Nordis scheme, reports presshub.ro.According to PressHub, Claudio Cisullo, Chairman of the Board at One United, invested 2.5 million in Nordis. He purchased 34 apartments in advance from the Nordis real estate group through his investment company, ACC Investments, which has since been renamed CC Trust Private Equity Group, a commercial vehicle heavily used in One Uniteds international transactions.After Recorder published its investigation into the Nordis scheme, several contracts paid in advance by clients were terminated, which generated a major dispute. Unlike smaller investors, Cisullo has already recovered most of his money, the cited source also writes.PressHub says that for the 34 apartments, the company run by Cisullo (CC Trust Private Equity Group, formerly ACC Investments) had paid approximately 2.5 million euros (i.e. 12,355,860 lei) by the time the contract was terminated. The company CC Trust Private Equity Group, through which the Swiss contracted Nordis apartments, is a subsidiary of the CC Trust holding company, also founded by Cisullo in Zurich.With another arm in Luxembourg, the cross-border conglomerate operates like an investment fund: it buys apartments in advance, therefore at lower prices, to rent or resell them in the future. But, above all, it serves today as an optimization tool in the external transactions of the developer One United Properties, where Cisullo is chairman of the Board of Directors, explains PressHub.An example is the one from 2021, when One United sold 124 units from the One Cotroceni Park complex, in a single transaction, to CC Trust Private Equity Group (formerly ACC Investments).When prices rose further in the market, One repurchased 67 of the 124 apartments, announcing that it would resell them all at a profit of one million euros.Contacted by PressHub journalists to answer whether the dispute with Nordis and his involvement in One United does not place him in a conflict of interest, Claudio Cisullo redirected them to his lawyer.CC Trust Group, through its subsidiary in Romania, CC Trust Private Equity Group, purchased several residential properties from various developers in Romania, as part of its investment strategy.