I don't think the original 2012 Clarinova €600 million zero Coupon MTN was a "scam" per se....maybe "optimistic". It was registered with Euroclear. However there is zero evidence it was ever subscribed and did not appear to be connected to the "asset" in any way and this appears to come before any connection with ELGL. My personal opinion is that in the original version of this "story" hatched last year...it was found and that part was inserted in the story since it had a web footprint.
I am getting the feeling a couple of "new" players have come along to try and get some mileage out of this "story" part deux...but did not realize just how much "DD" had already been done....that blows most of it apart.
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