• Report: #865625

Complaint Review: Alvin Donovan, Equity Partners Fund SPC

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  • Submitted: Sun, April 08, 2012
  • Updated: Mon, November 26, 2012

  • Reported By: Nathan Detroit — Toronto, Ontario Ontario Canada
Alvin Donovan, Equity Partners Fund SPC
Level 31, 6 Battery Road, Raffles Place Singapore Internet United States of America

Alvin Donovan, Equity Partners Fund SPC Zigong Bank, Dr Alvin G. Donovan III, Alvin Donovan, Equity Partners Fund SPC, non-existant finacings finally exposed Singapore, Internet

*Consumer Comment: EPF Partners FRAUD/SCAM

*Author of original report: More phony rebuttals by Donovan - give it up please !

*Consumer Comment: google shows that at least one company DID get actual funding from this investor and many others also had very good things to say about the MD of the investor arrranged for other investors and acquis

*Author of original report: The above two rebuttals appear to be phony

*Consumer Comment: There are several reasons why this article is complete rubbish. I would like to add the results of my own investigation and research. I have contacted and spoken to a few people involved in this case

*Consumer Comment: I have read this tabloid journalist with great interest and it is an interesting alert about just some of the many of Luke BrackenBracken International Mining, Kim Cox AWTN and Jacques Blandin Firmw

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Alvin Donovan describes himself as follows:  Managing Director Equity Partners Fund SPC, bestselling author, hedge fund industry pioneer, completed several billion dollars transactions, consultant to fortune 500 companies, faculty member most of the world's largest management institutes, raised over USD$1.5 billion for funds.

Mr. Donovans motto is Lead, follow, or get out of the way

For over two years Mr Donovan has been spamming members on the finance related groups of Linked-in with press releases about the fund raising activities of his offshore fund, Equity Partners SPC, in addition to his joint venture with a Chinese bank.

Equity Partners Fund SPC, with offices in Singapore and the Cayman Islands, writes on its web site that it provides fast, efficient and  inexpensive access to equity  capital. We have commitments for funding on many exchanges including Frankfurt, Johannesburg and Sydney.

I was curious as to why a fund manager would choose to set up in the Cayman Islands, have no apparent source of capital, then proceed to announce huge  deals. ..  Upon close review of the related press releases, their content appears to be complete non-sense. To anyone who has had any kind of legitimate securities training,  these supposed transactions look like a bad joke.  The announcements typically refer to  large amounts, however when you examine closer, there never appears to actually be any funds changing hands.   This method of operation is typical to give cover for some advance-fee type of scam, as appears to be the case here.
  
For example, in February of 2011, Equity Partners Fund SPC announced that is was funding BioJet International Ltd. (of Barbados, Santa Barbara, Monterey, London, Zurich, Buenos Aires, etc) to the tune of $1.2  billion (www.biojetcorp.com)  and they are going to use our funding to take over and/or JV with ebitda positive energy and alternative energy companies internationally. etc., etc  There is no evidence that any actual cash ever changed hands in this supposedly funded deal, other than perhaps up-front fees.. In response to an inquiry, in January of 2012, the  Companys Director of Corporate Development wrote me indicated that the Company was still at the pre-revenue stage and was currently looking to raise some money.    If they were looking to raise money, then an obvious question is what became of the supposed $1.2 billion in funding from Equity Partners SPC ?????

I would like to commend the writer of the investigative
journalist report, published by the Cootamundra Herald: http://www.cootamundraherald.com.au/news/national/national/general/the-guru-who-surfs-the-web-to-make-a-fast-buck/2475950.aspx?storypage=4    The Guru who Surfs-The Web To Make A Fast Buck

Finally, this sociopathic fraud has been exposed.

There is a reason to be skeptical offshore brokers, deal makers and promotions involving grand schemes that are conducted solely via the Internet:  the principals may not be registered anywhere and are probably skirting securities
laws that would apply "onshore".....

It looks like the sucker company involved in one of Mr Donovans non-existent deals, as mining company, actually decided to raise a stink.

On Linked-in, Mr Donovan has just recently changed his position description to Investigative journalist for a Singapore newspaper.   It appears that the leopard is attempting to change its spots once again.   Lead, follow or get out of the way, eh?    

This report was posted on Ripoff Report on 04/08/2012 04:47 PM and is a permanent record located here: http://www.ripoffreport.com/r/Alvin-Donovan-Equity-Partners-Fund-SPC/internet/Alvin-Donovan-Equity-Partners-Fund-SPC-Zigong-Bank-Dr-Alvin-G-Donovan-III-Alvin-Donov-865625. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
2Author 4Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

EPF Partners FRAUD/SCAM

AUTHOR: GS - (United States of America)

Just look at every announcement, they are scams with no funding.
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#2 Author of original report

More phony rebuttals by Donovan - give it up please !

AUTHOR: Nathan Detroit - (Canada)

The above rebuttal by Regina Westlake an the preceding ones on this thread all rather mysteriously arrived within the last few days, making the same assertions and quote the same alleged facts, in the same style.     This author is most likely Alvin Donovan himself, in disguise, or one of his cronies.

 These arguments are quite disingenuous.  For example, citing the one company that actually received some funding is hardly an enviable track record in the finance world.

I challenge Donovan and/or his disciples to clearly disclose the following:

1.     In what jurisdiction and with what regulatory authority is Donvoan registered to deal in securities ?  Has he ever been sanctioned by any regulatory authority ?

 2.     What are the portfolio holdings of Equity Partners Fund SPC ?   How much cash does the fund it have ? where was this capital obtained ?

3.     Publish a list of all of the financings his companies/funds have announced over time, in addition to the actual cash amounts that were actually raised and changed hands at subsequent closings. Most legitimate financeers like to publish tombstones.

Until he can comply with the above request, I would ask him and his cronies to stop spreading lies and stop contaminating these discussion threads with useless twaddle.
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"Any fool can criticize, condemn and complain and most fools do." 
Benjamin Franklin 

"You have complaints? Good. That means youve stood up for something, sometime in your life."
Winston Churchill 

Having read the rebuttals here on the one hand they do make sense and on the other hand further show the original report for the utter and total nonsense it is.

Firstly, thanks for stating the real facts here and  for pointing out just some of the many obvious factual mistakes
the tabloid made. 

Secondly, a quick check on google shows that at least one company named Worldlink Plc DID get actual funding from 
this investor. google "worldlink update on funding" This company and many others also had very good things
to say about the MD of the investor.

Furthermore, those companies went on to say that the investor also arrranged for other investors and acquisitions as well.

Lastly, this provides reliable independent proof this investor is for real and that the tabloid sensationalist story is 
in reality a lie.

This is an example of the just one of a long line of shoddy mistakes made by either ignoring or not even bothering 
to check out the real facts in the case.

They would not let the truth get in the way of a good story.

Obviously when the companies do what they are supposed to do according to their contract with the investor and proceed in an honest and ethical manner then the investor does what they are supposed to do with respect to the contract.

In this case, this investor is for real as they have invested in at least one company who did the right thing and shows
that Blandin and Brackens story just do not hold water.
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#4 Author of original report

The above two rebuttals appear to be phony

AUTHOR: Nathan Detroit - (Canada)

The first rebuttal posting that appeared above has been repeatedly posted on the other related threads to the point where it amounts to spamming.   It is also rather off topic.   Who is doing this?

Note: the originating post on this thread was intended to discuss and expose ALVIN DONOVAN and his sham offshore hedge fund, Equity Fund Partners SPC. The post was not intended to discuss Ms. Cox, Msrs. Blandin, Bracken et al.

Is the person who posted the first rebuttal REALLY Elena Ambrosiadou, multi-millionaire, tycoon, famous fund manager of Ikos wealth management, one time highest paid woman in Britain and more recently making headlines with her divorce from co-fund manager  Dr. Martin Coward ?????  It is reasonable to think that she takes such a keen an interest in the matters discussed here ?

Alternatively, is the person who posted the above rebuttals actually Alvin Donovan himself, or one of his apologists, acting in such a way as deliberately obfuscate the trail of Internet whistle-blowers, journalists,  and others pointing fingers  ?

If you  Google Alvin Donovan around this time, a large number of Internet sites and pages that emerge high in the search engine rankings that have Alvin Donovan and Alvin Donovan Rip-Off, and Alvin Donovan Scam ,  in their subject lines and content.   These appear to have been deliberately planted by the accused in order obfuscate the trail and lower the rankings of sites with legitimate information, such as this site.   Somebody has been hard at work !

 
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This post here on ripoff report has been reposted over and over again, apparently by the same person. I would like to add the results of my own investigation and research. There are several reasons why this article is complete rubbish. I have contacted and spoken to a few people involved in this case and here are the facts. 

Luke Bracken or Bracken International Mining, Kim Cox of AWTN and Jacques Blandin of Firmware and Visi Inc Plc. played that poor unsuspecting tabloid journalist at the Enquirer like a banjo and here is how they did it:

1. This company in the report is an equity line funder. This kind of investor obviously wants companies to drawdown so they make money when a company draws down. So if a company puts in a drawdown notice obviously they would fill it, there is no reason not to.

2. In all cases the company signs a legal contract which they must have their lawyer review before signing and the terms are in simple plain English. Nowhere in the article by this tabloid journalist does the journalist refer to the contract or having had any discussions with Brackens or Blandin lawyer. I can only assume there was no discussions with their lawyers .

3. Their website clearly states that the companies pay a third party non- affiliated law firm for legal document preparation.

4. It also clearly states they are not an underwriter and do not provide liquidity, IR or PR.

5. In all cases the company signs a term sheet which is made in simple English any 12 year old can understand.

This type of funding has been around for over 10 years and there are over a dozen firms worldwide offering this type of structure worldwide.

Luke Bracken claims the investor did 100s of deals. Okay but only two companies in Australia seemed to have had a problem. Maybe in Australia they sign term sheets without reading them? And they sign legally binding agreements without reading them?

Jacques Blandin CEO Firmware or VisiInc PLC made an announcement after they signed with the investor, probably used that announcement to entice investors and the investor never heard from them again after the announcement and they never put in a drawdown

But dont believe me- Google the term Jacques Blandin ASIC and you will see that Jacques Blandin of Firmware VisiInc Plc. was banned by the Australian SEC for:

Mr. Blandin, of Dianella, Western Australia, was a proper authority holder with Australian Financial Securities Pty Ltd during the period 19 November 1998 to 27 January 2000.The undertaking was offered following an investigation into the activities of Mr. Blandin, which found that Mr. Blandin had made recommendations to his client that ****she invest $135,000 in companies with which he was associated or had an interest, without properly disclosing that association or interest to the client, in contravention of the Corporations Law.****ASIC also found that Mr. Blandin did not have a reasonable basis for making those recommendations, and knew that his client would rely upon them.The conduct of Mr. Blandin ultimately caused his client to sustain a loss of approximately $120,000 due to the insolvency of the company with which Mr. Blandin was associated or had an interest.

My guess is Jacque Blandin Firmware Visi Inc used the announcement of his signing with the investor as a way to entice investors into his sham company and had no intention of ever getting funding from the investor.

One other point that makes no sense whatsoever:  Jacques Blandin of Firmware Visiinc Plc. claims that the investor is just giving you your own money. Yet he claims that the investor did not fulfill the drawdown. If the investor was just giving him his own money then obviously they would have fulfilled the drawdown.

My sources reveal that once Jacques Blandin of Firmware Visi Inc made the announcement, then he fled to the USA to get away from the Australian authorities and never contacted the investor again.

Further proof is that Visiinc plc. that they have been kicked off of the German stock exchange- why?

Now lets focus on Luke Bracken of Bracken International Mining-His company Bracken International Mining appears to have a $500 million dollar market cap as of this posting but it does not have any trading volume? How many companies with that size market cap have no trading volume like this?

Also if you research them further you will see they are trying to raise $500 million dollars. How can a company worth $500 million raise $500 million?

Maybe he just cannot do the math like they just cannot read term sheets and contracts?
Furthermore Google Luke Bracken Ripoff Report  to see his background.  Luke Bracken of Bracken International Mining seems even worse than Jacques Blandin of Firmware Visi Inc Plc.

Once again, Luke Bracken of Bracken International Mining announced the deal with the investor and then most likely used it to get other investors into his company.

We also have it on reliable sources that Luke Bracken of Bracken International Mining was close to roping in Gerry Harvey of Harvey Norman fame into investing but he tried to circumvent the introducer and Norman ran away from Luke Bracken of Bracken International Mining as fast as he could. Not to mention that he works out a bedroom in the house of his mother. How is it that the CEO of a 500 million euro market cap does not have the ability to even live in his own apartment- something smells very fishy there.

It looks like both Luke Bracken of Bracken International Mining and Jacques Blandin of Firmware Visi Inc pulled one of the oldest tricks in the book- they burn an investor then try to throw dirt on the victim to bury their mis deeds.

 
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I have read this tabloid journalist with great interest and it is an interesting alert about just some of the many of Luke Bracken Bracken International Mining, Kim Cox AWTN and Jacques Blandin Firmware Visi Inc. latest in a long line of questionable debacles. 

If you Google the term Jacques Blandin ASIC you will get an idea of his character. ASIC reported in part as follows The undertaking was offered following an investigation into the activities of Mr Blandin, which found that Mr Blandin had made recommendations to his client that she invest $135,000 in companies with which he was associated or had an interest, without properly disclosing that association or interest to the client, in contravention of the Corporations Law.

ASIC also found that Mr Blandin did not have a reasonable basis for making those recommendations, and knew that his client would rely upon them.

The conduct of Mr Blandin ultimately caused his client to sustain a loss of approximately $120,000 due to the insolvency of the company with which Mr Blandin was associated or had an interest.

Birds of a feather flock together. It is important for other potential investment firms or private investors to conduct thorough due diligence on them and their past transactions and know that Luke Bracken of Bracken International Mining, Kim Cox of AWTN and Jacques Blandin or Firmware/Visiinc and their conduct should there be any difficulties arising from their dealings with them.

Let this ripoff report serve as a warning to anyone looking at doing business with Kim Cox AWTN, Jacques Blandin Firmware Visi Inc or Luke Bracken of Bracken International Mining that if they sound too good to be true it probably is and the possible trouble they will cause you if you do business with them. 
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