RDI Enterprises S.A. (an offshore company) run by Patrick Phipps and Maurice Mills of Washington State, attempted to obtain $5 million from the Wall Street investment banking firm of FDP Capital LLC (NY) to set up an off shore internet gambling operation that was designed to illegally target US gamblers. RDI submitted a signed application agreement to FDP Capital that failed to disclose that their operation likely did not comply with US gambling laws and international banking laws. RDI also disclosed to us that they intended to repatriate the profits from the enterprise back to the US via other entities set up in a third nation in the Caribbean that is widely reputed to be a tax haven.
Our legal department determined that US authorities would likely consider this type of arrangement to be illegal money laundering and profiting from an unlicensed gambling establishment.
Since we determined that RDI was in grievous violation of their application agreement for failure to previously disclose their true intentions and because if we had arranged to provide funding for such an enterprise we would likely have been participating in a crime, FDP terminated RDI's agreement with FDP and RDI forfeited any refund of any and all fees that RDI may have paid to FDP as a result.
After we informed RDI that they would not qualify for a refund of the application fee under the terms of their agreement, RDI's Executive Vice President Patrick Phipps began to make threats and harass our employees via email for weeks. Our policy is to ignore, rather than encourage such behavior with responses. Mr. Phipps then turned to the Internet to harass us with more threats and false, libelous and defamatory statements on this website about FDP and its employees as retaliation for refusing to fund RDI's enterprise and for not honoring their request for a refund of the application fee which they forfeited by attempting to involve us in a highly questionable and likely illegal offshore gambling operation and money laundering scheme.
FDP Capital LLC cautions other investment houses about RDI Enterprises S.A. (aka RealDeck) and its principals; Patrick M. Phipps of Redmond, WA; and Maurice L. Mills of Kent, WA.
(Note: Patrick Phipps and Maurice Mills were apparently the principals in a now defunct Multi-level Marketing scheme called Bigguppy.com which has also been described in a complaint on this website.)
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