Allianz secures High Court orders against Irish company over alleged fraud
Allianz has secured a High Court injunction against an Irish-based financial services company that is the subject of a warning from the Central Bank.
Allianz secured the injunction against Tessline Ltd, with an address at Crescent Building, Northwood Crescent, Northwood, Santry, Dublin 9, after the defendant said it was insured by Allianz.
Allianz claimed that Tessline was allegedly misleading customers about its insurance status in posts on social media platforms, including YouTube which the insurer wanted taken down.
Allianz says it never insured or had an agreement with Tessline, which has held itself out to be an investment and trading firm and an "unquestionable leader in the online investment and asset management markets".
Tessline, it claimed, allegedly displayed falsified signed documents with what appears to be the Allianz company seal on its website, and on social media posts, to support its claim that a contract of insurance existed between the parties.
Allianz said the alleged co-founder of Tessline, a 'Mr Iain Cameron', states on a video posted on Tessline's channel last December that the company "signed an insurance contract with one of the largest insurance companies in the world Allianz. We insured Tessline for 1 billion US dollars"
That video was watched 4,000 times, Allianz claimed.
Allianz, which became aware of the claims last October, asked the company to remove the material from social media, and when it failed to do so brought proceedings before the High Court.
The injunction, which prevents Tessline from using or displaying falsified insurance certificates on any social media platform linking Allianz to the company, was granted by Ms Justice Leonie Reynolds today.
The Judge, noting that there had been "no communication" from Tessline to Allianz, said she was satisfied to make the orders sought based on what was "an ongoing fraud".
Tessline did not oppose the application and were not represented in court.
Tessline is also restrained from carrying out any advertising, marketing or promotional activity which refers to Allianz, suggesting there is any connection between the entities or using any of the insurer's trademarks.
Imogen McGrath Bl for Allianz told the court that complaints about Tessline's conduct have been made to the Gardaí, the Central Bank, and to the authorities in Germany and Italy.
Counsel said in February the Central Bank issued a warning about Tessline, stating that it is "not authorised by the Central Bank as an investment firm, business firm or to provide investment advice".
Counsel said Allianz also has issued a fraud warning about Tessline on its own website.
Allianz had also sought orders compelling Google Ireland, Facebook Ireland, and Pinterest Europe Ltd to remove and delete any videos or links referring to Allianz which had been posted by Tessline.
Counsel told the court that on consent the proceedings against the internet companies could be struck out with no order for costs.
Counsel said the internet firms had removed the materials her client had complained of. Any further issues would be dealt with on a case-by-case basis, counsel added.
