Liechtenstein: Account of gold dealer TGI blocked – 2800 customers waiting for 45 million euros
In a video, TGI President Kaltenegger explains why the unwinding of prohibited discount gold contracts is stalling. He advises customers to get a lawyer.
Liechtenstein's gold dealer TGI is facing significant issues in processing the scheduled settlements of its discount gold contracts. The banks and authorities are preventing the disbursement of funds, according to TGI's lawyer. The frozen reimbursements amount to approximately 45 million euros and concern around 2,800 customers who applied for the repayment of the buyback amount on July 31, 2026.
TGI had sold gold with high discounts up until July this year, requiring customers to pay for the precious metal in advance, with delivery expected to occur within three years. However, financial authorities in Germany, Liechtenstein, and Austria halted the transactions and ordered their settlement. The Liechtenstein state prosecutor suspects TGI of operating a ponzi scheme.
The company has now uploaded a video on its YouTube channel, where TGI board member Helmut Kaltenegger informs customers about the situation. The video, barely three minutes long, is not easy to find and has been sent to affected customers.
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