Kept on Wikipedia:SkyWay Group
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SkyWay Group is a term used to refer to a group of companies registered under business names including "SkyWay Capital Ltd"[1] and "Eurasian Rail Skyway Systems Ltd"[2] which are based in London, Minsk and the Virgin Islands.[3] These companies have been accused by regulators and other media, of encouraging risky investments in infrastructure projects,[4] which include ambitious but unsupported claims about their technology called SkyWay[3] (or String Transport).[5][6] Anatoly Yunitskiy is the inventor of the technology, and the founder and main shareholder of many of these companies.[7]
Background
Anatoly Yunitskiy is the inventor of SkyWay technology and according to The Baltic Course is also the founder and the main shareholder of companies in the SkyWay Group.[7] The SkyWay technology has been marketed as a new type of elevated light rail transportation system. A prototype of this technology was assessed by the Moscow State University of Railway Engineering in 2008. They concluded that "the technology is filled with a large number of system defects" and that the system is "associated with great risk". In 2016, a Russian government panel that evaluated the technology called it "innovative, but only in theory".[6]
Although countries like Australia,[3] India,[6] Indonesia,[8] Italy,[3] Lithuania[9] and the United Arab Emirates[10] started negotiating with the SkyWay Group, no projects have been realized; Memorandum of Understanding contracts were apparently signed but projects in Lithuania and India were later cancelled due to concerns about safety and viability of the technology as well as financial irregularity.[6] The Italian government has banned the advertisement and sale of SkyWay Group company shares.[3]
The SkyWay Group is financing itself with crowdfunding[3] and other marketing techniques that have drawn the attention of international financial regulators. Regulatory organisations and national banks in Belgium,[1] the Czech Republic,[11] Estonia,[12] Germany,[13] Greece,[14] Italy,[3] Lithuania,[1] New Zealand[15] and Slovakia[16] have issued warnings about their activities and accused the promoters of not complying with regulations when seeking investment.[4] The Financial Services and Markets Authority in Belgium warned that SkyWay Group finances exhibited "characteristics of a pyramid scheme".[1]
Test projects
Russia
The technology promoted by the SkyWay Group was assessed in Russia in 2008 and 2016. An earlier prototype of this technology was assessed in 2008 by the Moscow State University of Railway Engineering but it was subsequently dropped after they concluded that the project was "not viable and unsafe". According to their assessment, this technology is filled with a "large number of system defects and (is) almost unrealistic because it doesn’t provide an even path for the traffic". The report also quoted that "Passengers are at altitude from the ground level. Destruction of any string leads to deaths. The system is associated with great risk." In 2016, a Russian government panel that evaluated the technology called it "innovative, but only in theory".[6]
Belarus
In October 2015 the SkyWay Group started constructing a test site to demonstrate 'SkyWay' technology. It is situated in Marjina Horka (about 70km from Minsk)[17] and is called the EcoTechnoPark.[18][19]
Abandoned projects
Russia
In 2007 and 2018 pilot projects of the SkyWay Group technology were planned in Russian cities. But specialists of the Moscow State University of Railway Engineering gave a negative assessment of the project and it was not implemented.[3]
Australia
A test site of the SkyWay Group technology was planned in Australia but a dispute between Yunitskiy and his partners resulted in its cancellation in 2010.[3]
Lithuania
In 2014 the SkyWay Group planned to build its first test site in Lithuania, but this project was cancelled at the end of 2014 due to suspicions of financial fraud.[9]
India
In May 2017 a Memorandum of Understanding was signed by Sudhir Sharma the minister of Urban Development of the Northern Indian state Himachal Pradesh government with one of the SkyWay Group companies. Although Sudhir Sharma said the facility would be started in the next three years, in July 2017 the Economic Times reported that the project ran into controversy when doubts were raised over the credentials of this Belarus-based company along with concerns over the suitability of this means of transport for the region. The congress government was criticised for "the decision to sign a memorandum of understanding with a company with no operational projects anywhere in the world" and doubts were raised over the safety and viability of the project.[6]
Indonesia
There were negotiations planned between Indonesian companies and 'PT Skyway Technologies Indonesia'. They were planning to build 'sky trains' in Jorong (Kalimantan). Members of the public complained about the suspicious sale of investment products and the negotiations were finally cancelled in 2018.[8]
Future projects
The United Arab Emirates
In February 2019 a Memorandum of Understanding was signed by the Roads and Transport Authority (RTA) of Dubai with the Skyway Greentech Company to build "Sky Pods" there.[10]
Regulatory warnings
Lithuania
In 2014 due to suspicions of financial fraud from the Bank of Lithuania, an official statement was released which warned investors that unidentified individuals invited Lithuanian residents to invest in "next-generation string transport" by acquiring on-line shares of the private limited company without a prospectus approved by a competent authority.[4][5] The prosecutor's office in Vilnius decided, however, to stop its investigations in May 2017.[9][20]
The Czech Republic
In December 2016, the Czech National Bank released a warning stating that a SkyWay Group company 'Euroasian Rail Skyway Holding' was operating in the Czech Republic without a prospectus required by Czech law.[11]
Estonia
In April 2017 the Estonian Financial Supervision Authority (EFSA) released a warning stating that the 'First Skyway Invest Group Ltd.' started offering its shares to the public without legal authorization to do so.[12]
Belgium
In September 2017, the Belgian Financial Services and Markets Authority (FSMA) issued a warning concerning Skyway Capital who were offering investment to the public without a prospectus approved by the FSMA, as required by Belgian law. The FSMA further stated that "the scheme proposed by SkyWay Capital exhibits the characteristics of a pyramid scheme."[1]
Italy
In January 2018 the Commissione Nazionale per le Società e la Borsa (the Italian Companies and Exchange Commission - CONSOB) – banned the advertisement and sale of SkyWay shares in Italy.[21] The CONSOB had already banned SkyWay Group companies in 2017 for 10 days, and had warned as far back as 2014 about the concerns of the Bank of Lithuania.[22]
New Zealand
In July 2018 the Financial Markets Authority (New Zealand) released a warning stating that the Skyway Group "are not registered as a financial service provider in New Zealand and is therefore not permitted to provide financial services to New Zealand residents". The FMA further warned that the SkyWay Group "could be involved in a scam".[15]
Germany
In November 2018 the Federal Financial Supervisory Authority of Germany (BaFin) warned that the 'First Skyway Group Limited' company lacked a sales prospectus for their shares.[13]
Greece
In November 2018, the Hellenic Capital Market Commission in Greece (HCMC) released a warning about various companies within the SkyWay group.[23]
Slovakia
In January 2019, the National Bank of Slovakia released a warning stating that neither it nor any other supervisory authority of a European member state had approved a prospectus for the legal sale of SkyWay Group company shares.[16]
See also
Notes and references
- ↑ 1.0 1.1 1.2 1.3 1.4 "First Skyway Invest Group Limited ("Skyway Capital")". Financial Services and Markets Authority. 22 September 2017. Retrieved 1 March 2019.
The Financial Services and Markets Authority (FSMA) warns the public against the activities of First SkyWay Invest Group Limited (“SkyWay Capital”), a company that offers investment instruments to the public in Belgium.
- ↑ Linas Jegelevičius (25 September 2015). "A genuine investment project? A boondoggle? A scheme? Lithuania: a national security threat first". Baltic News Network (BNN). Retrieved 1 March 2019.
«Euroasian Rail Skyway Systems Ldt.», «American Rail Skyway Systems Ltd.», « African Rail Skyway Systems Ltd. », «Australian&Oceanic Rail Skyway Systems Ltd » and, set purposely to Lithuania, «Rail Skyway Systems Ltd.» are a few to be mentioned.
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 "Sky Way, l'azienda del "tram volante" che non ha mai realizzato un progetto". letteraemme.it. 2018-07-20. Retrieved 2019-02-04.
- ↑ 4.0 4.1 4.2 ">"Bank of Lithuania warns SkyWay activities in Lithuania illegal". Lietuvos Bankas Lithuania. Retrieved 2017-03-23.
- ↑ 5.0 5.1 "Investment project from Yunitskiy in Siauliai – threat to national security?". The Baltic Course | Baltic States news & analytics. Retrieved 2017-03-01.
- ↑ 6.0 6.1 6.2 6.3 6.4 6.5 Venugopal, Vasudha (13 July 2017). "Doubts raised over Belarus company credential for Rs 250-crore skyway transport project in Dharamshala". The Economic Times. Retrieved 15 July 2017.
- ↑ 7.0 7.1 "Court dismissed Rail Skyway Systems' EUR 10 mln claim against Lithuania". The Baltic Course. 7 January 2019. Retrieved 1 March 2019.
- ↑ 8.0 8.1 "Investasi Mandek, PT Skyway Teknologies Indonesia Umumkan Pembekuan". 30 September 2018.
- ↑ 9.0 9.1 9.2 Černiauskas, Šarūnas. "Lietuvos bankas: "oro traukinius" žadančio A. Junickio veikloje – sukčiavimo požymiai". DELFI. Retrieved 2017-03-01.
- ↑ 10.0 10.1 "MoU with Skyway Greentech to develop Sky Pod Network". RTA. Retrieved 2019-02-12.
- ↑ 11.0 11.1 "ČNB". www.cnb.cz.
- ↑ 12.0 12.1 "Information on First SkyWay Invest Group LTD" (PDF). EFSA website. Retrieved 16 January 2019.
- ↑ 13.0 13.1 First Skyway Invest Group Ltd: Anhaltspunkte für fehlenden Verkaufsprospekt BaFin
- ↑ "SkyWay Invest Group ads are not approved". EconomyNews247 Greece. Retrieved 2018-11-13.
- ↑ 15.0 15.1 "Skyway Capital/Skyway Group". Financial Markets Authority (New Zealand). Retrieved 16 February 2019.
- ↑ 16.0 16.1 "Upozornenie Národnej banky Slovenska na činnosť spoločnosti First SkyWay INVEST Group Ltd. - www.nbs.sk". www.nbs.sk.
- ↑ "Возле Марьиной Горки строят испытательный центр транспорта будущего — Пухавiцкiя навiны. Пуховичские новости. Марьина Горка. Новости Марьиной Горки".
- ↑ "Transport Of The Future? Video Shows High-Speed Vehicle Test In Belarus". 30 November 2016.
- ↑ Сидорович, Константин (18 September 2018). "«Это прикол на День дураков?» Что происходит со SkyWay Юницкого - Технологии Onliner". Onliner.
- ↑ "A genuine investment project? A boondoggle? A scheme? Lithuania: a national security threat first". Baltic News Network - News from Latvia, Lithuania, Estonia. 2014-09-25. Retrieved 2017-03-01.
- ↑ http://www.consob.it/web/consob-and-its-activities/warnings/documenti/english/entutela/cns/2018/enct20180129.htm?hkeywords=skyway&docid=3&page=0&hits=7&nav=false
- ↑ http://www.consob.it/web/consob-and-its-activities/warnings/documenti/english/entutela/other/2014/enct20140929.htm?hkeywords=skyway&docid=6&page=0&hits=7&nav=false
- ↑ http://www.hcmc.gr/vdrv/elib/a056c494c-1ef7-44e9-b5e7-db55d67a566e-695604395-0
External links
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