He was nicknamed the “Madoff of Maine-et-Loire”, named after Bernard Madoff, the famous American crook who died in prison in 2021. Suspected of having defrauded wealthy families by persuading them to invest in a fund located in Hong Kong, which has never been profitable, Guillain Méjane is being tried by the Paris Criminal Court from this Monday with four other people. The defendant, aged 41, must appear until January 25 for fraud, laundering tax fraud and illegal provision of financial services between 2012 and 2014.
At the beginning of the 2010s, this graduate of a management school and recently fired from Microsoft launched into trading and founded the investment company Now For Tomorrow (NFT) with a childhood friend, Gaëtan O., specializing in “innovative high-yield alternative investments”. The duo recruits in their immediate environment, then by word of mouth, in particular in families with particle names, with an attractive argument: “total transparency”, “100% guaranteed” funds, withdrawals possible at any time and 10% donated to charities.
A dangerous Ponzi scheme
But at the end of 2014, customers learned of the bankruptcy of NFT. And the complaints are multiplying, including that of Gaëtan O. against his former partner whom he accuses of having set up a “Ponzi pyramid”, consisting of paying former investors with the money of subsequent ones. At the end of the investigations, the latter was nevertheless also referred to court, notably for complicity in fraud.
During the investigation, Guillain Méjane strongly contested any fraudulent maneuver. “Although Mr. Méjane’s state of health is diminished, he will appear before the criminal court and answer all of the questions formulated by the court, being keen to clarify the role of each of the protagonists in this case “, declared his lawyers, Messrs Thomas Amico and Pierre-Henri Baert.
Large personal expenses
According to investigators, the two men collected 15.3 million euros, including 10.6 million invested in the financial markets via brokerage companies. Nearly 2 million would have been used to reimburse certain investors, 1 million to pay an employee in London and 1.6 million for the personal expenses of Guillain Méjane. Investigations showed that he had, in particular, bought his main residence for 290,000 euros, financed his wedding in Italy and acquired a Ferrari for 330,000 euros.
His father will also be tried for receiving and laundering tax fraud, as well as Gaëtan O.’s aunt and grandmother for this second offense.
Around fifty investors, most of whom never saw their money again, became civil parties. They “are awaiting recognition of each person’s responsibilities and the convictions that will result from them, both criminally and financially,” declared Me Paul Le Fèvre, who defends several of them.