GAME OVER | Day 9 — The Trustee Never Filed a Complaint

The Danish state confirms: the trustee's "complaint" was a document request. The real investigation is ours — into Carnegie and Lars Topholm for market abuse.

Every day, a new layer peels off. Today we caught the trustee in a lie that was broadcast to the entire Danish financial press as fact. And we have the Danish state’s own words to prove it.

I’m not going to tell you about the evidence. I’m going to show it to you. Every letter. Every word. Read it yourself.

What We Found in Romania

We regained access to Shape Robotics Romania this week. What we walked into was not a company. It was a crime scene. No headquarters. No warehouse. Every company car seized. Production equipment gone. Bank accounts still locked. Creditors who heard nothing from anyone for months sent bailiffs.

The trustee was the de facto shareholder and de facto director for fifty-nine days and did not pick up a phone, did not send an email, did not pay a bill, did not protect a single asset.

We found pallets of stock that haven’t been seized yet. We’re evaluating what’s salvageable. My first order of business was to start an independent audit. We need to know where we are, what’s left, and what was destroyed. The results will be shared publicly. As always.

But here’s what I want you to understand — this is not zero value. The intellectual property alone — Thinken, the Lenovo partnership, 150 Thinken units on stock worth over three million euros, part of a 3PO system and a live Lenovo distribution agreement — all of it incapacitated by a trustee who told the court and the press there was nothing here.

Forget zero value. Every euro I identify above zero is an infinity compared to what the trustee reported.

The DFSA Letter — Read It Yourself

Now to the main event. I received a letter today from Viktor Stidsen Katic, Legal Officer at the Capital Market Division of the Danish Financial Supervisory Authority — the DFSA. This is a public state organism. This is the regulator. And what the DFSA told me is something the trustee and Finans never wanted you to know.

Here is the letter. The full text. Not a summary. Not a paraphrase. The actual words of the Danish state.

Now let me walk you through what you just read.

Point 5.1 — The complaint that never existed. We asked the DFSA for a copy of the trustee’s complaint against me. The one Teis Gullitz-Wormslev told the press about. The one Finans reported as fact. The one that was used to create the impression that the CEO of a public company was under formal investigation by the financial authority.

There is no complaint. There never was a complaint. The trustee submitted a request for documents — an aktindsigt — and this was repackaged, laundered through Finans, and presented to the market as a criminal complaint against the CEO.

The DFSA will process it under §36 of the Danish Freedom of Information Act — because that’s what it is. A document request. Not a complaint. Not a filing. Not an investigation. Seven working days and we’ll see exactly what documents the trustee was fishing for.

And I have a theory — I believe he was trying to access our complaint against Carnegie. Because Teis Gullitz-Wormslev’s last assignment before Shape Robotics was running a bankruptcy where Carnegie was involved. Draw your own conclusions.

Point 5.2 — The complaint that does exist. While the trustee’s complaint turns out to be a document request, the DFSA confirmed in the same letter that there is an active investigation. Ours.

Let me translate — the Danish state is actively investigating Carnegie Investment Bank and analyst Lars Topholm for potential market abuse. The same analyst who held undisclosed shares in Shape Robotics. The same bank whose research note was used to inflate and then crater the stock.

This is not a blog post. This is not a Substack allegation. This is the Danish Financial Supervisory Authority confirming an ongoing state investigation into potential breaches of market abuse regulation.

The DFSA also noted that our criminal complaints against the trustee and Nasdaq fall outside their supervisory mandate and must go through the courts — which is exactly where we filed them. But the remaining parts of our filing are included in the DFSA’s ongoing supervision.

So let me summarize what the Danish state confirmed today:

1. The trustee never filed a complaint. It was a document request.

2. There is an active DFSA investigation into Carnegie and Lars Topholm for market abuse.

3. Our criminal complaints against the trustee and Nasdaq are proceeding through the courts.

4. Everything runs under one file number.

The trustee sent misinformation to the market. Finans published it as fact. Today, the Danish state set the record straight.

How Finans Cherry-Picked the Story

Now let me show you how the media machine works. Today Finans published another article. Headline — the Finnish fraud police has been asked to investigate Sanako Oy, Shape Robotics’ Finnish subsidiary. Reporter Jesper Høberg contacted me for comment. I gave him a full, detailed response.

This is how it works. You give a journalist a full picture. He takes the one frame that fits his narrative and throws the rest away. Then when the readers see “Finnish police investigating Shape Robotics subsidiary,” they think the CEO did it. He didn’t. The trustee did. And I can prove it.

The Kromann Reumert Letter — Proof of De Facto Control

On January 8, 2026 — two days after the Danish bankruptcy — Albert Mungo Madsen of Kromann Reumert sent a letter to Sanako Oy on behalf of trustee Teis Gullitz-Wormslev. This letter is the single most important piece of evidence in the Sanako story. It proves, in black and white, that the trustee took control of Sanako Oy.

This is not supervision. This is not oversight. This is control. Total, absolute, de facto control. Every decision had to go through Teis Gullitz-Wormslev. Every payment had to go to Kromann Reumert’s bank account. Every action out of the ordinary course required advance permission from the trustee.

This letter — in similar form — was sent to every subsidiary. Romania. Finland. All of them. And under this regime of total control, Sanako Oy — a company with a forty million euro Bechtle contract — went bankrupt in February 2026. Not during my administration. During his.

So when the Finnish police investigates who destroyed Sanako — the trail leads to Copenhagen, not Bucharest. And now you’ve seen the proof.

The Pattern

You’re starting to see it now.

Romania — trustee takes control, does nothing, assets get seized, headquarters lost, creditors abandoned, twenty-four million euro EU project destroyed.

Finland — trustee takes control, does nothing, company goes bankrupt, forty million euro Bechtle contract destroyed, Finnish police now investigating.

Denmark — trustee tells the press the company has zero value, tries to fire-sale everything, gets overturned by the High Court on procedural grounds.

Same trustee. Same law firm. Same pattern. Three countries. Hundreds of millions in destroyed value. And the only complaint he ever filed turned out to be a request for documents.

What Happens Next

Tomorrow I have a meeting with the auditor for Shape Robotics Romania. We are conducting a full, independent audit of what remains, what was destroyed, and what can be recovered. The results will be made public.

The DFSA will process the document request within seven working days. We’ll know exactly what the trustee was looking for. That, too, will be shared with you.

The Finnish investigation is in its initial assessment phase. We are cooperating fully.

And we continue to identify and recover assets. The robots in Denmark — half a million euros worth of inventory the trustee wrote off as zero — are being sold. First revenues hit the company account tomorrow.

I keep telling you there is light at the end of the tunnel. But you have to drive through the tunnel first.

The trustee said there was nothing left. The Danish state says his complaint was just a document request. The Finnish police is investigating what happened under his watch. And every single day, we find more value that was written off as zero.

Game over.

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Mark Abraham

Administrator, Shape Robotics Romania S.R.L.

CEO, Shape Robotics AS

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This is part of the GAME OVER series documenting the reconstruction of Shape Robotics AS in real time. Subscribe for daily updates.