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41.5 Mio euro Claim

More than 65% of the shareholders of LFP1-EPF filed a claim against the current directors David Mapley and Tudor Fedeles of LFP1 due to mismanagement, fraud and abuse of trust.

Please read the claim here, from which the content is really shocking. The modus operandi from the directors is unseen in the Luxembourg Fund industry.

Meanwhile, the CSSF suspended David Mapley on the 25th of May 2020 due to false declarations in his application process. We hear from insiders it is only a matter of time before Tudor Fedeles will be suspended as well. An investigation is actively running on his active involvement in the extortion practices and mismanagement of the Fund with the aim to personally enrich himself.

Tudor Fedeles and his mentor David Mapley have not only failed in keeping the fund listed as a CSSF approved fund by meeting up with the standard service provider requirements. (all the service providers resigned because of their unprofessional behaviour) They have also intentionally mismanagement the fund tremendously. 

Even basic rights of the shareholders are neglected as the directors refuse to convene general shareholder meetings on the request of the shareholders whilst extorting counterparties and shareholders of the fund in order to get money in their pocket.

Please watch below the shocking documentary showing Tudor Fedeles intentions and attitude towards the shareholders. 

Tudor Fedeles describes the shareholders as “Poor fuckers” while he is supposed to protect the investor’s interest as a director. He also states that he will “not do shit on the fund” and “Fuck everybody” referring to the 23 Mio euro cash that is still on the bank account.

Recently Tudor Fedeles and David Mapley made an attempt to wire the remaining cash from LFP1-EPF to a personally owned (new to be set up) investment vehicle “Shimoda High Yield Bond”. Luckily enough the CSSF has blocked them from doing so. More on this topic in our next article.

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Up the chin

Luxemburg media is reporting that Tudor Fedeles’ boss and mentor Mr. David Mapley just got banned from holding any significant position in the Luxemburg financial industry. Mr. David Mapley was caught giving false information to the Luxemburg financial authority CSSF.

Asked for a reaction to this news by the Luxemburg Times Mr. Tudor Fedeles, defiantly stated that the decision was taken wrongful and that they planned to fight it. However insiders in the Luxemburg financial industry say that they saw the measures taken to David Mapley coming for some time. Mr. Mapley has a very dubious past and has left a trail of bankruptcies and financial damages everywhere he arrived at the scene. Many even question why it took the CSSF so long to act.

In any case, this seems to reduce the playing field of David Mapley and Tudor Fedeles a lot. Doing business in the financial industry in Luxemburg has become a lot harder, if not impossible. This is not yet a knock-out but sure gives the CSSF an advantage on points.

See you in the next round…

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