PARIS / SINGAPORE, January 12, 2026 — Chillax Hospitality Pte Ltd (the “Company”) is issuing a formal update regarding its ongoing criminal pursuit of Karl Tchalian for the alleged orchestration of a sophisticated international investment scam resulting in the loss of half a Million euro.
A Complex Global Network
The criminal complaint, filed with the Tribunal Judiciaire de Paris (Case Ref: N° Parquet 21357000698), details an elaborate network designed to deceive High-Net-Worth Individuals (HNWIs) in Asia. Investigation reveals that the funds were funneled through several international entities, acting as layers to obscure the movement of capital. These include:
- Pin Holding Enterprise LLC (Singapore): Acts as the primary brokerage intermediary to establish trust with local investors.
- Smiley Group (Turkey): Utilized as a destination for the international wiring of funds.
- Exbitex LTD (Hong Kong): Involved in the multi-jurisdictional movement of the misappropriated capital and Utilized as a destination for the international wiring of funds.
These entities allegedly formed a “scammer network” that utilized the appearance of legitimate international trade and AAA-rated bond investments to induce the Company into transferring significant capital.
Details of the Criminal Complaint
As The complaint, filed with the Tribunal Judiciaire de Paris (Case Ref: N° Parquet 21357000698), accuses Mr. Tchalian of orchestrating a sophisticated fraudulent scheme. The allegations include:
- Targeted Solicitation: Recruiting High-Net-Worth Individuals (HNWIs) across Asia through high-profile business intermediaries in Singapore.
- Deceptive Financial Instruments: Soliciting investments under the guise of “AAA-rated” bond trades with promises of high-yield returns in the French market.
- International Facade: Leveraging an international network of brokers to project institutional credibility and bypass standard investor due diligence.
Jurisdictional Challenges and Judicial Status
Despite the formal registration of the complaint on December 23, 2021 (Identifiant Justice: 2103924690P), and over five years of active legal pursuit, the case highlights a troubling gap in international financial enforcement.
While reports have been filed with the respective Justice Departments and authorities in France, Singapore, Turkey, Thailand and Hong Kong, the multi-border nature of the crime has hindered the apprehension of Karl Tchalian. Chillax Hospitality expresses grave concern that despite clear evidence of the wire transfers and the entities involved, the coordinated effort to freeze assets and arrest the accused has yet to yield a final result.
Statement from Chillax Hospitality
“We are facing a sophisticated criminal operation that exploits the boundaries between national jurisdictions,” stated a Company representative. “By naming Smiley Group, Pin Holding Enterprise, and Exbitex LTD, we are alerting the global financial community to the mechanics of this scam. We call upon the authorities in France, Singapore, and Hong Kong to bridge their investigative gaps to ensure that international scammers can no longer operate with impunity.”
Current Status of Judicial Proceedings
The Company has formally moved the case forward within the French judicial system. Following an initial filing in Paris, a new Complaint with Civil Party Status (Plainte avec constitution de partie civile) was filed on April 6, 2025.
As of November 4, 2025, the Tribunal Judiciaire de Pontoise (under the jurisdiction of the Cour d’Appel de Versailles) has officially confirmed the appointment of Vice-President Zineb Kriem as the dedicated Examining Magistrate (Juge d’instruction) to lead the investigation.
Current Official Case Reference:
Prosecutor’s Case Number (N° Parquet): 25113000093
Instruction Number: JI CABDOYE25/43
________________________________________
Notes to Editors (For Verification)
- Jurisdiction: Tribunal Judiciaire de Paris / Cour d’Appel de Paris.
- Prosecutor’s Case Number (N° Parquet): 25113000093
- Instruction Number: JI CABDOYE25/43
- Charges: Fraud, Embezzlement, and Financial Scamming.
Media Contact:
Organization: Chillax Hospitality Pte Ltd
Contact Person: Josey Herrera (Director of Legal Office)
Email: [email protected]
Website: www.chillaxhospitality.com