HEADLINE - PPF, via its affiliated Irish Section 110 Special Purpose Vehicles (SPVs), offers 100% project funding that is recourse to the asset security/project only. To balance the risk of lending 100%, PPF takes a 20% equity share in each project.
Mr. Stamp, through this headline, takes advance fees that are held in escrow by a US law firm acting in the European market under a different company name, while clients believe their advance fees are safe. He has taken advance fees from many tens of clients and has a pipeline of fronting companies that collect for him. The funds are pooled in escrow and then used for personal and unauthorised payments, leaving investors with a loss and none receiving the loan. He sells a compelling story or uses reputable businesses to sell the story. Many tens of his clients are suing him for return of funds. He makes his offers without a license to operate as a financial institution and without registration to offer loans. His companies have zero balance sheets and he has written loan contracts amounting to in excess of ten billion, enticing unsuspecting investors out of advance fees.
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