Luxemburg REPORTER on David Mapley

The banning by the CSSF of David Mapley in Luxemburg did not stay unnoticed by the Luxemburg press. The REPORTER published a comprehensive article on the matter. You can read it here. For those who don’t master the French language we have made a translation.

FINANCIAL REGULATOR: End of the road for a self-proclaimed vigilante

BY Véronique Poujol

May 28th 2020

David Mapley presented himself as a benefactor serving the victims of investment fraud. He has become their bane. The financial sector regulator has put a stop to its journey. Considered manipulative and uncontrollable, he lost his honor.

The Financial Sector Supervisory Commission (CSSF) struck hard on Monday 25 May when it declared David Mapley persona non grata for four years in the financial center. This administrative measure is exceptional, as is the story of this 60-year-old Briton who readily pretends to be a vigilante from the financial center who flew to the aid of investors in the specialized investment fund (FIS) LFP1, victim of a major fraud.

Columna Commodities, one of the sub-compartments of the FIS, was indeed at the heart of a fraud involving 50 million euros. The funds would have partly evaporated in the pocket of an African kleptocrat, according to a relative of the file who requested anonymity. Mapley’s mission was to recover the assets.

However, the “Robin Hood” of the fight against financial crime has not lived up to his task. Mapley lied on his curriculum vitae in September 2018 to obtain a director’s approval as head of LFP1. He had to get the investment fund back on track. His mission went wrong. “Mr. Mapley provided incomplete and false information to the CSSF in the context of a sworn statement submitted as part of the approval procedure,” said the press release of May 25

Fictitious company in Switzerland

David Mapley has an MBA from the University of Chicago where he was enrolled between 1984 and 1985. He assures directing Intel Swiss, a financial investigation company in Switzerland which does not exist. “It is an informal group of financial investigators and analysts who investigate financial crimes and recover assets,” he defends himself from REPORTER.

We wonder how the CSSF was able to admit such an individual without verifying his background, which is quite impressive ” A lawyer from the Geneva Bar

His professional career mentions a position as CEO of City Windmills, in liquidation since 2019. According to information from REPORTER, the shareholders of this company which sold wind turbines in the United Kingdom for individuals, brought a complaint against him before the Attorney General of Geneva for fraud and embezzlement. His detractors accuse him of dragging around thirty bankruptcies behind him, which he was careful not to declare to the CSSF. “We wonder how the CSSF could admit such an individual without verifying his background, which is quite impressive,” said REPORTER a Swiss lawyer who worked with Mapley in the City Windmills case.

A few months after his appointment, his muscular methods, his professional faults and his ignorance of financial regulations earned him the hostility of a majority of the shareholders of the FIS. They demand his resignation. But the man clings to his mandate. The shareholders rebel and go so far as to sue him. The CSSF is alerted.

REPORTER has taken cognizance of a summons before the Commercial Court in which investors are claiming 41.5 million euros, corresponding to their financial loss due to breaches, professional misconduct and lies attributed to David Mapley and to another administrator of LFP1. They are suspected of wanting to get their hands on the 23 million cash left in one of the fund’s compartments. The recording of a telephone conversation and text messages, presented during the summons, document shocking practices, bordering on the orthodoxy of the financial sector.

Instrumented press

Mapley does not hesitate to use the press to denigrate its opponents. In a very oriented article published in the Financial Times at the end of February , the president of LFP1 indicates having seized the European authority of the financial markets to denounce the propensity of the CSSF to put itself more at the service of the marketing of the financial center than to act. in favor of investor protection. 

The Briton stubbornly refuses to implement a resolution of the general meeting of shareholders for the transfer of one of the “healthy” compartments of LFP1 to another investment fund. On April 30, in a letter REPORTER obtained, a group of shareholders representing 60% of the capital demanded, within a month, the holding of an extraordinary general meeting to obtain the resignation of Mapley and the two other directors. of the fund.

REPORTER, Mapley claims to have submitted a summons request to the CSSF and is awaiting a response.

An FIS out of control

The CSSF’s May 25 decision should speed up the end of Mapley’s mandate. The fact that his name was mentioned in the administrative decision, an extremely rare practice, testifies both to the urgency of the regulator’s intervention and to the seriousness of the reproaches made against him.

David Mapley did not come to Luxembourg by chance ” 

A familiar with the matter

Out of control, the investment fund no longer has a depositary bank. In July 2019, the CSSF removed it from its official list of FIS funds and since that date, has acted as supervisory commissioner, which in principle reduces the scope of the fund to only protective acts. However, the board of directors is suspected of wanting to overcome these constraints. The FIS paralysis is total. Many shareholders feel trapped.

In fact, the withdrawal of his honorability by the CSSF should force Mapley to shed his mandate as chairman of the board of directors of this regulated fund. However, in a press release, the Briton deplores the “unilateral” character of the decision and announces, right in his boots, that he will appeal to the administrative court. He attacks the regulator whom he accuses of complacency in the protection of investors and the fight against financial crimes.

We must therefore expect a long legal battle and, at the same time, a great unpacking of dirty laundry. It will probably take time before such a controversial figure comes out of the radars of the financial center.

A folder that hides another

“David Mapley did not come to Luxembourg by chance”, indicates a relative of the file who requested anonymity. “Alter Domus presented its authorization request file as administrator of the fund to the CSSF”, specifies this source. The Alter Domus communications department considers this assertion to be inaccurate.

The Mapley case would only be the tip of the iceberg of a much larger affair which would originate in the chaotic sale in 2018 of Luxembourg Fund Partners (LFP), a fund management company, which had offered its first directors to LFP1.

The conditions for the arrival of the British leader at the helm of the fund are enigmatic. His arrival in spring 2018 corresponds to the sale to the financial service provider Alter Domus of LFP. But the negotiations between LFP and Alter Domus went wrong. The buyer has suspended the last installment of the payment to the seller after Mapley began to fire its first salvos against its predecessors on the board of directors of LFP1, accusing them of complicity in the fraud at 50 million euros on the Columna compartment Commodities. A fraud that the fund’s auditors had not detected and that the ex-administrators had themselves reported to the authorities. These former directors of LFP1 are also the sellers of the management company.

Mapley considers this to be the Luxembourg financial crime of the decade and compares it to the Madoff and Landsbanki cases.

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Swiss City Windmills shareholders file a second criminal complaint against David Mapley

A second and new criminal complaint was filed by shareholders of City Windmills on the 22nd of January 2020 before the General Prosecutors of Cantons Geneva and Valais.
A first criminal complaint was already deposited by City Windmills investors on the 14 thof April 2019 before the General Prosecutors of in Geneva.
The complaints were all filed with allegations of fraud and misuse of company goods.

According to the shareholders of City Windmills, Mr. Mapley spent all the
shareholder’s investments since the beginning of his appointment for personal purposes, travel & expenses, and lifestyle.
David Mapley also invoiced huge amounts to personal accounts on the Cayman Islands instead of using the shareholder’s money for the company’s development (see the City Windmills annual report of 2017 page 24). Furthermore, he refuses to convene general shareholder meetings to report to the shareholders and refuses to give transparency on the bookkeeping, figures, and expenses.

David Mapley developed a business model to steal other people’s money.

Swiss investor

The company is left completely cashless and has become completely inactive. Shareholder of City Windmills state: “David Mapley has stolen all the money and left the company completely cashless”
“David Mapley developed a business model to steal other people’s money. It turns out his fraud investigation company “Intel Suisse” does not even exist and has never existed. David Mapley is a pathological liar.”

In the last weeks, more and more cases are being reported by victims of David Mapley.

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David Mapley has fled Switzerland

Recently we wrote about the scam practices of David Mapley with City Windmills in Switzerland. David embezzled 2,000,000 US dollars company funds. In the meantime it has become known that David Mapley has fled Switzerland. Non of his former residences are occupied. Furthermore all the companies that David Mapley founded in Switzerland have now been declared bankrupt or in liquidation.

David Mapley’s companies in Liquidation and Bankrupted

  • City Windmills (Suisse) SA (In Liquidation)
  • JM Investments Advisors SA (In Liquidation)
  • Crossbridge Global Capital Markets SA (In Liquidation)
  • IX Swiss AG (In Liquidation)
  • Cav & Art (Bankrupt)

Earlier we reported about the fraud committed by David Mapley at City Windmills and Cav & Art. At this moment our team is investigating the other liquidations, undoubtedly this will also provide the necessary incriminating material.

The only company that does not appear in this list is Intel Suisse, but that company cannot go bankrupt because it only exists in the head of David Mapley and is not registered anywhere.

Back to David Mapley, who has fled Switzerland and remains untraceable for his creditors. From a reliable source, we have learned that soon, litigation against David Mapley will be started by angry creditors.

We are very curious to see how this will continue, and if it goes to court, we will be sitting in the public gallery.

Stay tuned…

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The ruins of David Mapley

August 15th we posted: “We have some reading to do” after receiving a two-inch-thick report on David Mapley. Before digging into all individual cases, we would like to share with you the magnitude of the ruins of David Mapley. Just by making a list of all his involvement. David Mapley was involved in many different companies all over the world, and most companies went bankrupt, are out of business, or were relocated to faraway countries. Out of reach for creditors.

    • Address: 39 Chemin de Précossy – 1260 Nyon – Suisse
    • Record number: 48-705-7403
    • Registration date: 09.08.2013
    • Mapley: Administrator with individual signature
    • The company went bankrupt in 2017
    • Address: 8-10 Avenue Revedil – 1260 Nylon – Suisse
    • Record number: 48-286-9323
    • Registration date: 22.12.2004
    • Mapley: Administrator with individual signature
    • The company went bankrupt in 2017
    • Address: 2 Chemin du Souvenir Chez Gérald Perrin – 1800 Vevey – Suisse
    • Record number: 48-540-7675
    • Registration date: 22.12.2009
    • Mapley: Director
    • The company went bankrupt in 2018
    • Address: Zurich
    • Record number: 48-633-0793
    • Registration date: 10.02.2012
    • Mapley: Director
    • The company went bankrupt in 2015
    • Address: 8-10 Avenue Reverdill – 1260 Nylon – Suisse
    • Record number: 48-539-2596
    • Registration date: 11.12.2009
    • Mapley: Administrator till 20.04.2010
    • The company is still active, Mapley was fired in 2010, current administrator is Graham Johnson
    • Riffaud – 24230 Nastringues – France
    • Record number: 28-907-6512
    • Registration date: 2016
    • Mapley: Managing Partner
    • The company is dissolved
    • Address: PO Box 367 Sydney Vane Ho – Admiral PK St. Peter Port – Guernsey GY1 3YH – Great-Brittain
    • Record number: 22-616-1404
    • Registration date: 1980
    • Mapley: Director
    • Last annual sales reported in 2014 (dissolved?)
    • Flat 39-35 Buckingham Gate – London SW1E 6PA – Great-Brittain
    • Record number: 21-665-5053
    • Registration date: 2010
    • Mapley: Director
    • The company is active, criminal complaint is set against its Director, David J. Mapley for fraud and misuse of company goods. 
    • Flat 39-35 Buckingham Gate – London SW1E 6PA – Great-Brittain
    • Record number: 21-976-3921
    • Registration date: 2013
    • Mapley: Director
    • The company is dissolved via compulsory strike-off since June 2019 
    • Address: 209 N Orange Street – Wilmington – Deleware 198011120
    • Registration number: 12-243-4223
    • Registration date: 2000
    • Mapley: Chief Executive Officer
    • The company is active, criminal complaint is set against its Director, David J. Mapley for fraud and misuse of company goods. 
    • Address: Jennet Street c/o Caledonian House George Town – Grand Cayman 
    • The company is dissolved May 2003

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City Windmills 3

David Mapley raises steals 2 million US-dollar for City Windmills with a 90 dollar “do it yourself” wind turbine from the internet.

Since 2010 David Mapley is advertising himself as the CEO of City Windmills. In the process, he raised 2 million USD from investors and operated on the fraudulent London GXG stock market (mirror). He promoted his company on different channels.

When you watch all of the youtube material and visit the City Windmills website, it becomes apparent that it never gets to the point concerning the actual product itself. No spec sheet no testing reports or certification, not even a real product photo, and that after almost ten years of existence. Only brave talk and no substance. The only thing we see is a picture and a youtube film of an amateurish prototype.

Just google DIY vertical axis wind turbines, and you will get full building plans of even more sophisticated turbines.

A wind turbine or wind mill are not the same thing, they are actually very unique and different in many ways. 

The windmill was made to help pump water and grind grain very similar to the water wheel (to mill). In contrast to the wind turbine which was made to produce energy for a clean and safe environment. Both the windmill and the wind turbine have their own features, which can help uncover their distinctions. Mixing the up (as David Mapley does), indicates a lack of knowledge in this direction.

Speaking of vertical axis windmills. This type of wind turbine is not an invention of David Mapley nor his team, as a matter of fact, this type of wind turbine is called a Persian horizontal windmill and already exists for more than 1,000 years. No idea how he wants to get a patent for this, as mentioned in one of his investment pitches.

City Windmills is just another fraudulent investment trap created by David Mapley and a very successful one, given he managed to steal 2 million dollars from investors. City Windmills is now long gone. The addresses are still on the website, but there is nothing there.

The office is empty

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City Windmills 2

Just fond on another site. It’s a must read about the fraud and theft by David Mapley.

City Windmills Holdings Plc / Fraud & theft of company funds

David John Mapley has taken $400, 000 in bond issue money and $160, 000 in an advance order without proper permission and for personal use from company funds. He has also stolen all the share capital invested by shareholders. The company is now cash less with bond issues to be paid and orders waiting to be manufactured. 

As investors we invested in to City Windmills holdings plc, the result is that the company is left insolvent, shareholders, clients and bond investors are left with nothing. 

Frequent demands for transparency on the bank details is never provided. 
David John Mapley has also taken some of these funds to fuel his hobby business bergerac wine holdings plc and for the purchase of property where he receives rental incomes both in Switzerland, France and Cayman. 

Intel has also revealed that mapley is not just a fraudster and master of deceit, but he is also an international tax fraud. 
He lives “between the gaps” in the jurisdictions of cayman, usa, uk, switzerland and france. 
David Mapley simply passes each tax demand off as being out of jurisdiction in a vicious circle of deceit. 

David Mapley even has the cheek to drive on US-number plates to avoid investigation in the countries in Europe, intel has shown that these plates are not even registered in the USA. 

David Mapley has stolen hundreds of thousands of dollars and is continuing to deceive and defraud. 

Please be aware do not invest in this international crook’s businesses or be fooled by his charm, in particular when he comes knocking for money – his speciality. He is a “trojan horse”. 

As another fraud blog (Found recently as he has lots of history) states, “mapley cannot even lay straight in bed”!!!

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City Windmills

Just to read through, the last annual report of City Windmills, where David Mapley is in charge. It just says in black and white that David Mapley has wholly emptied the whole company. Hundreds of thousands of pounds are transferred to David Mapley personally and his company Shimoda Ltd. Interesting because the company has almost no revenue. David Mapley is just burning money from the shareholders.

If you invested in City Windmills and lost your money please contact us. We would like to hear your story.

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