The LFP I SICAV story Book launch - "The Whistleblower of Luxembourg - A Dirty Fund"
planned for late 2024!!
How the world of Luxembourg investment funds covers up organised
crime, money laundering, regulatory failings, and lawyers feast on the post-fraud frenzy whilst investors
lose hope..
A true story of LFP I SICAV, a Luxembourg family of funds ravaged
by off-shore criminals, a regulator covering up its failings, and Luxembourg banks and auditors
conspiring to destroy evidence.
Directors, Investment Managers and Investment Advisors
with no relevant experience or past fraud legacies authorised to manage people's
pensions and retirement savings.
With almost 40 criminal, civil law suits and money-laundering reports filed by the investigating director (2018-2020),
the regulator, judicial system and lawyers worked together with "at-fault" parties to cover-up and suppress
the investigations. 6 years later, not one person or company brought to account!!
And not 1 Euro returned to over 300 defrauded investors..(as at 15/6/22)
The "whistle-blowing" investigating director sanctioned by the Luxembourg regulator, the first personal sanctions issued in
20+ years, for alerting EU, ESMA, EBA and FATF about the lack of investor protection and the regulatory
cover-ups, as also reported in the International Financial Press..
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OVERVIEW
LFP I SICAV sub-funds Aventor, Blackstar Commodities, Columna Commodities, Equity Power Fund,
all identified as Ponzi schemes, all suffered major losses (totalling almost € 100 million) in strikingly similar ways!!
Multiple frauds, multiple service provider failings, multiple audit mis-statements, multiple regulator failings..
The LFP I chronology here - www.lfp1-sicav.com
- The Luxembourg Regulator ("CSSF") - despite observing major breaches of diversification and non-compliance with investment guidelines in 2015 onwards, failed to act - then obstructed the new directors in their fraud investigations and failed to follow up fraud reports and criminal complaints.
The CSSF even arranged the "marriage" on Luxembourg Fund Partners and Apex Malta, the Fund Administrator, so the independence of NAV accounting was a total misrepresentation - and the CSSF knew it!!
Sued for € 99.2 million damages for gross negligence.
- Luxembourg Fund Partners ("LFP") - oversaw due diligence, compliance and managed the fund, with 4 alleged Ponzi scheme sub-funds.
2 former owners/directors Leleux and Renaux were also directors of LFPI SICAV.
- Alterdomus, new owner of LFP - real estate specialist who never inspected EPF properties or checked ownership... Refusal to hand over investment records to new Board of Director re EPF Ponzi scheme..
- YAS - Columna Advisor, connected to BStar, the biggest creditor/black hole of Columna
- Urban Capital Group - property developer to Equity Power Fund, 50% losses due to stolen properties and embezzlement. Dewaegenaere jailed June 2020 for financial fraud.
- Blackstar Capital Partners - commodity finance advisor, earned undeclared commissions on most investments in Blackstar Commodities Fund, despite calamitious losses.
Owner Mark Stephens was also director of LFPI SICAV.
- JJ Noomen / Equity Experts - promoter to Equity Power Fund, with access to bank statements so placed shares for 5% commission whilst the investment funds only flowed out to Dewaegenare and Caes of Urban Capital Group in Brasschaat, Belgium.
- Apex Malta - administrator, and undeclared shareholder with directors in LFP, the Manager ??
- PWC - auditors in Luxembourg & Hong Kong, ignored the liquidity and asset parameters of the fund!! Failed to spot 4 Ponzi schemes.. Auditor to LFP, knew the conflict with Apex as a shareholder with directors and in same building..
- ABN Amro/BGL BNP Paribas - Custodian & Depository, remitted Columna investment monies to unauthorised counterparties, resulting in major losses.
- KBL/Quintet - Custodian & Depository, remitted € 8 million for EPF properties it never took title to...
- SocGen - Custodian & Depository, failed to protect the financial assets of the fund!! Sent US$ 9 million from Columna to the wrong accounts in wrong countries with insider help!! Direct refusal to provide the investigating directors with the bank statements during its period as custodian to the fund.
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