Conversion kit Bimoz in bankruptcy: many speak of fraud

In 2018, we drew attention to the Bimoz conversion kit in our first Bike issue. According to Roland Eschler, the marketing man at the time and later director of the company responsible, the delivery of the new conversion kit, with which customers could easily convert their bike into an e-bike, was planned for May 2018. But apparently nothing ever came of it. This is all the more surprising since at the time they were talking about needing and wanting to generate $165,000 from the indiegogo.com platform to get started. In fact, however, they have generated CHF 1,553,460.00 via indiegogo.com to date. After prototypes had already been presented in videos before the publication in 2018, the production could actually only be a question of money and that had been received. Why was it never delivered? Was it ever produced at all?

Numerous media reports and videos on Youtube, which are still online today, impressively demonstrated the functionality of the new drive, with which a bicycle could be converted into an e-bike. It was clearly suggested to consumers and investors that the drive would work and that the investment in this system was credible and made sense. Now, of course, many see themselves bounced, because to date, at least according to the investors, no part of Bimoz has ever been delivered.

Company bankrupt since 2020
On 20.04.2020 the company "Z Institute AG", which was responsible for this, was dissolved by the Zurich Commercial Court. With judgment of 24.11.2020, the bankruptcy was reopened, which is why summary bankruptcy proceedings are currently underway before the District Court of Horgen. So what happened to all that money? Did they really put it into a production and where are the products then or did they just put it into their own pockets? In view of this evidence, it is understandable that many investors who have diligently paid in money here are annoyed and talk of fraud. The platform indiegogo.com is also massively criticized by investors because, according to the aggrieved investors, it does nothing to protect investors. The rating of the platform indiegogo.com on ch.trustpilot.com is therefore negative with 1.1 out of 5 stars. Giacomo Carcangiu, the technical director of Bimoz, is in Italy, according to the Zurich commercial register extract. Moreover, he can still be found as technical director in the English company Vancor vancor.uk.com. Vancor Ltd is involved in four companies that do not have a website, one of which is Z Institute AG. In addition, Giacomo Carcangiu is to serve as CEO at GCC and Nurtech UK Ltd. Roland Eschler left the companies Z Institute AG and Suisse Solar AG at the end of 2019. It is piquant that as a board member of Suisse Solar AG is named the Italian Armin Pörnbacher, based in Dubai, who is the founder of the English company Vancor, in which Giacomo Carcangiu is technical director. A great network with people who are all based abroad and probably need not fear prosecution from the Swiss judiciary. We could not reach the responsible persons! The whole thing smells like organized fraud.