Loan To Own Scheme
Using a "loan to own" scheme the same people serving in officers of MAPI and multiple Altus Group subsidiaries were in a position to perform a wide range of actions without the knowledge of others.
In one case Paul Doughty and Don Anderson acting as officers of the Altus group subsidiaries would, on various occasions, issue loans to Don Anderson acting as an officer of MAPI. These loans would involve using MAPI property as collateral and an "on demand" clause. Then later call the loans for non-payments. In effect Don Anderson used his position to commit the MAPI property to the loan, while in that same position failed to repay the loans. Thus leaving the loans open to foreclosure. Other information will describe how Anderson among are accused of misspending partnership funds leavinginsufficient funds to meet the loan demands.