The Argentine fintech Wenance, founded by Alejandro Muszak and dedicated to online credit for consumption, issued an official statement after being accused of scamming users.
The Argentine fintech wenanceFounded by Alexander Muszak and dedicated to online consumer credit, issued an official statement after being accused of scamming users. “Wenance reports that, in order to protect investors’ capital at a time when markets are highly fluctuating, it had to analyze a restructuring to comply with payments and the interests of its creditors,” they said.
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“This is due to the retraction of the business after the pandemic, the considerable increase in the level of delinquency of its clients and the rise in inflation. Wenance will comply with the payment of commitments assumed and will attend to all the claims. The operation is well implemented. Investors who have legally enforceable obligations will be covered. During this week the precise scheme under which all will be paid will be communicated. The company prioritized compliance with the return of the money to its creditors who will be able to count on their capital more interests in a period to be agreed”, affirmed the official document.
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The complaint of the users
Ignacio Carballo, A fintech business specialist who collected opinions from those allegedly affected, detailed on the networks the situation of a group of self-summoned people who placed funds in Wenance and “cannot withdraw the money.” They speak, directly, that they were “ripped off.” In addition, they denounce that the company “waiting for a possible restructuring, continues to attract funds.”
“Hello! All of us in this group were affected by Wenance. We know that they will not pay more interest and that they are going to carry out a restructuring to repay the capital, by quota. There is nothing official, in theory, between Monday and Wednesday there would be news,” they said.
Carballo presented a series of possible proposals, ranging from dollarizing the funds to the MEP dollar, offering interest rates of 8 or 9% and different terms, to finally be credited in pesos., or maintain the value of the investment in pesos at a nominal rate of 105% to be paid in between 12 and 18 months. In all cases the schemes would be “with capitalization”.
“Many of us are scammed, there is a lot of money owed and there is little reliable information, for the moment we have to wait until next week and then, if there is an offer, analyze it and each one define if they want to take it, those who choose not to. To do so, look at the possibility of a class action lawsuit. We know that they have not met their due dates for days and despite this they continued to attract new funds and offer renewals at ridiculous rates. The rest is all catharsis”, says the text of “self-summoned”.
Source: Ambito
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