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“Fiduciary Mirage”: Trust betrayed, fortunes vanish. Story of Alper Deniz

“Fiduciary Mirage”: Trust betrayed, fortunes vanish. Story of Alper Deniz

Alper Deniz was making a name for himself. A lawyer by trade, Alper had spent years honing his skills at the prestigious Keystone law firm. His specialty? Advising on bond issuances. Over the years, he had advised on multiple issuances, with a total close to GBP 1 billion.

However, Alper’s role was not as straightforward as it seemed. He was also acting as a trustee for Truva Trustee, a position that put him in direct conflict with his duties as a lawyer and the bond structure he advised and marketed by third party IFAs. As a trustee, he was supposed to work with the bond issuers to ensure they paid their debts. But Alper had other plans.

Using a complex structure that took advantage of the weaknesses in the UK law system, Alper worked with the bond issuers to avoid paying the bonds they had issued. His targets were mostly unaware retirees, who had invested their life savings in these bonds, trusting in the system to protect their interests. The list of bonds Alper was involved with was extensive:

  1. Audley Funding PLC
  2. Invenio Capital PLC
  3. Intergroup Mining 1
  4. Just Cashflow PLC
  5. Balise Springs PLC
  6. Ethika Finance PLC
  7. Dover Hartcourt PLC
  8. Omnia Bond II PLC
  9. Minerva Lending PLC
  10. WELLESLEY SECURED FINANCE PLC
  11. Sustainable Capital PLC
  12. The Resort Group
  13. My Club Betting
  14. Chip chip Holding

As Alper’s web of deceit grew, so did the stakes. Would he be able to keep his secret hidden, or would his actions catch up with him? Only time would tell. 

Alper Deniz experience https://www.keystonelaw.com/lawyers/alper-deniz )

Advised on listed green bond offering of USD 144 million for Altech Chemicals Limited. Altech Chemicals Limited is a supplier of a high purity alumina (HPA) with a production plant at Johor in Malaysia. Altech Chemicals Limited is listed on the Australian Stock Exchange (ASX: ATC) and the Frankfurt Stock Exchange (FRA: A3Y). Bedford Row Capital plc is the structuring agent and Truva Trustees is the note and security trustee.

Advised listed ICMA-compliant green bond offering of EUR 25 million for Sustainable Capital plc, structured by Bedford Row Capital plc to finance the development and construction of five Smart Farm facilities in high-profile cities in Europe. The green bond will be listed on the Frankfurt Stock Exchange maturing 2024. The projects will be located in London, Monaco, Amsterdam, Munich and Toulouse. Truva Trustees is the note and security trustee.

Advised on the issue of USD and EUR ICMA-compliant green bonds by Sustainable Capital plc to finance Energy Storage’s development and construction of thermal clean generation and green power plants for “on-site-of-need” commercial and industrial customers, on a “distributed energy” model in Australia. Bedford Row Capital plc is the structuring agent and Truva Trustees is the note and security trustee.

Advised on the issue of USD 50 million 10% 7-year sukuk by Al Waseelah plc to finance the expansion of the mining operations for NQ Minerals plc, a UK listed company. The issuance of the sukuk was managed by Bedford Row Capital and Shari’a advisory services were provided by Khalij Islamic. Truva Trustees is the note and security trustee.

Advised on the establishment of a EUR 5 billion listed secured medium-term note programme for CP Funding 1 plc, a UK-based issuer of short-term notes and supply chain financing. Bedford Row Capital plc is the structuring agent and Truva Trustees is the note and security trustee.

Advised on the establishment of a GBP 1.2 billion listed secured medium-term note programme for Al Waseelah plc, a UK-based issuer of Shari’a-compliant bonds. Bedford Row Capital plc is the structuring agent and Truva Trustees is the note and security trustee. Shari’a advisory services are provided by Khalij Islamic.

Advised on the establishment of a GBP 2 billion listed secured medium-term note programme for Sustainable Capital plc, a UK-based issuer of green and sustainable bonds. Sustainable Capital plc is recognised on the NASDAQ Sustainable Bond Network. Bedford Row Capital plc is the structuring agent and Truva Trustees is the note and security trustee.

Advised on the establishment of a GBP 2 billion listed secured medium-term note programme for Invenio Capital plc, a UK-based issuer, and the issuance of notes to finance the expansion of the mining operations for NQ Minerals plc, a UK listed company. Bedford Row Capital plc is the structuring agent and Truva Trustees is the note and security trustee.

Advised on the establishment of a GBP 5 billion listed secured medium-term note programme for Propifi Bonds plc, a UK-based issuer specialising in commercial bridging loans to UK property developers. Truva Trustees is the note and security trustee.

Advised EEW Eco Energy World plc, an independent global developer of utility scale renewable energy projects on multiple solar energy projects.

Advised Rectory Homes, a property development company on a private placement of secured bonds.

Advised on the establishment of a EUR 8 billion listed secured medium-term note programme for Serica Finance plc, a UK-based issuer specialising in trade finance and supply chain funding. Bedford Row Capital plc is the structuring agent and Truva Trustees is the note and security trustee.

Advised on the establishment of a GBP 5 billion listed secured medium-term note programme for Kaeva plc, a UK-based issuer specialising in venture capital financing. Bedford Row Capital plc is the structuring agent and Truva Trustees is the note and security trustee.

Advised Minerva Lending plc on the establishment of a retail note programme listed on the main market of the Irish Stock Exchange (now Euronext). Advised Wellesley Secured Finance plc on the establishment of a retail note programme listed on the main market of the Irish Stock Exchange (now Euronext). Advised Roxbury Asset Management Limited on the establishment of a UCITS fund in Ireland.

2 responses to ““Fiduciary Mirage”: Trust betrayed, fortunes vanish. Story of Alper Deniz and Truva Trustee”

  1. Rob F Avatar
    Rob F

    Alper deniz is nothing but scammer, he and Scott Levy distribute the bond to our network of investors, stating the bond was secured, only to find it’s nothing but smoke and mirrors.
    Alper Deniz fraudster
    Scott Levy fraudster
    Stuart Gordon fraudster

    These 3 culprits need to be in jail.

    Reply
    1. Barrie Avatar
      Barrie

      Hi
      Very interesting ..he took £50 K off me and despite over 30 call/emails etc …nothing !
      Please can we get some justice

      Barrie

      Reply

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