Like the 1,000s of other pages of evidence uncovered and descriptions of crimes on this site, this web page is only one part of a massive multi-state entanglement of government corruption and cover-up. See size

MAPI or Mountain Adventures Properties Investments was a joint venture of four partners.

  • An executive brief. -

    In May 2006, Grassy Creek Holding Company, 4S Development, Altus Bank, and Robinson Construction all partnered to form MAPI (Mountain Adventure Property Investments). MAPI's purpose was to develop, build, and sell new homes and/or finished lots at three projects...Lake Village (Villages at Hayden), Mt. Harris (The Cliffs at Steamboat), and Hidden Springs Ranch. Altus Bank insisted that Robinson Construction be involved as the lead contractor. The responsibilities of each partner were:

    1. Grassy Creek Holding Company was to contribute land to MAPI...and did.
    2. 4S Development was to contribute land to MAPI...and did.
    3. Altus Bank (part of the Altus group) was to provide financing, accounting and tax reporting functions...and didn't.
    4. Robinson Construction was to complete development infrastructure at its cost plus 5%...and didn't.


    Will the FDIC be successful in locating the Altus group's financial records? The Altus group has failed to provide financial records as instructed in a court order. View more.


    Question A: Why did Altus Bank recruit another bank...Vectra Bank to provide development/construction financing...and what part did David Bruni, President of Vectra Bank play?

    Response: Altus Bank apparently did not have the financial capability it represented itself to have when MAPI was formed. See FSB Altus Ratings View. Altus Bank principals went, instead, to other banks to find financing that they could not provide as part of their responsibility to MAPI. David Bruni (Pres. of Vectra Bank) was apparently encouraged, by Altus Bank to provide Vectra Bank financing for the project. He was, in turn, promised a position as president of MAPI, a large salary, benefits, signing bonus, and portion of company profits, none of which was authorized by MAPI managers. See Bruni Employment Agreement. View

    Question B. Why would Vectra Bank (by way of its President, David Bruni), make development loan disbursements/draws to MAPI at the Altus Bank in Oklahoma rather than make disbursements directly to Robinson Construction or other vendors based on invoices, inspections, and receipt of lien waivers? By doing inspections, and paying vendors directly...only upon receipt of lien waivers for completed work (as is customary), Vectra Bank would have no question as to whether work being paid for had been completed, or whether payments on completed work was current.

    Response: Altus Bank, Oklahoma, on behalf of MAPI received at least 3 wire transfers totaling $3,501,454.18 from Vectra Bank, signed by David Bruni. Vectra Bank apparently had no oversight as to how these funds were of invoices, the application to specific invoices, review of lien waivers, etc. Instead, Altus Bank apparently had complete control of these funds.

    For actual Wire Transfer images, please see Exhibits E, F. and G pages 84, 85 and 86 respectively of the Attorney Letter Regarding Robcon (Robinson Construction) Liens for Villages at Hayden View.

    Question C. If lien waivers were produced by Robinson Construction, why is there an outstanding balance owed to Robinson on Lake Village, now secured by a Mechanics Lien against Lake Village?

    Response: Lien Waivers were supplied by Robinson Construction. Robinson's own audit figures show a balance owed that is significantly less than the Robinson lien amount. ($652,199.77 vs $1,411,090.76) Also, cancelled check images, cashed by Robinson total $4,925,140.68 against $4,929,715.20 in invoices would indicate that Robinson was overpaid by $4,574.52.

    Please see

    Question D. If Robinson Construction invoices were not current, why wouldn't Vectra Bank know the status of any such outstanding balances?

    Response: Vectra Bank perhaps wouldn't know because A) Robinson Construction produced lien waivers that said that Robinson had, in fact, been paid, and B) Vectra Bank sent the loan proceeds to Altus Bank (in the amount of $3.5 million) rather than paying vendors, thereby delegating that responsibility to Altus Bank rather than paying invoices themselves with the appropriate controls in place (i.e. inspection of work completed, line item review of invoices vs cost estimates, checks in return for lien waivers, etc.)

    Question E. What evidence of payment did MAPI "Altus" provide to Vectra Bank regarding payment of invoices?

    Response: No one seems to know. Grassy Creek Holding Company and 4S Development are still waiting for accounting documents requested from Altus Bank since June of 2007. When Altus Bank neglected to supply the MAPI partners with accounting, MAPI managers approved a resolution in August of 2007 to have an outside audit firm do an audit of the MAPI books, the result was that Altus Bank began calling its loans; and Robinson Construction began filing liens. Altus Bank is currently in "contempt of court" defying a court order to produce accounting and tax information dating back to 2006. The court order has been in effect since May 2008. Please see Order Granting Motion to Compel Discovery View.

    Question F: What part did David Bruni's prospective employment with MAPI "Altus" play with Vectra Banks loan facility to MAPI?

    Response: It served to reduce or eliminate proper bank oversight; allowed for mis-management of funds by Altus Bank; created unnecessary expense to MAPI; precipitated confusion as to validity of payments to Robinson which encouraged filing of mechanics liens and resulting and slander of title to MAPI property; in turn causing MAPI property to be rendered un merchantable; which then necessitated voiding of purchase contracts with numerous third parties; and damaged existing lot owners at MAPI projects; and precipitated the filing of bankruptcy for three companies...MAPI, 4S Development, and Grassy Creek Holding Company.

    Question G. If Altus Bank's function was to provide financing to MAPI for development, administrative and marketing expenses, and was to provide accounting and tax services to MAPI using its in-house accounting department, and if Robinson was not paid for completed work, why did Altus Bank not pay Robinson?

    Response: No one knows for sure. However, Grassy Creek Holding Company and 4S Development know that sales proceeds from MAPI lots were directed to places other than as authorized by MAPI managers/members. This may have reduced the amount of funds otherwise available for vendor Robinson as well as other MAPI creditors. Loan proceeds may also have been directed by Altus Bank to destinations not authorized by MAPI. Please see

    Question H. Why would Robinson as a MAPI partner, file liens against MAPI properties?

    Response: No one knows for sure. From a common sense perspective, it would seem that Robinson, as a MAPI partner, would be hurting itself to file liens which would eliminate MAPI's ability to close on pending contracts which would in turn provide sales proceeds with which to pay for work Robinson had completed. It would seem, that if Robinson were owed money, Robinson would work out payment within the partnership. Logically, Robinson would agree to take a disproportionate (increased) share of sales proceeds toward that obligation, rather than render title unmerchantable and thereby eliminate MAPI's ability to generate sales proceeds. Robinson was, in fact offered this solution, and Robinson declined, opting instead to file liens.

    Please see Back-up Documents Moisan Deposition Parts     I    and     II

    Question I. Are the Robinson liens even valid liens?

    Response: Specifically, with regard to Lake Village, at Villages at Hayden, the following evidence would indicate that the liens are not valid:

    1. Cancelled checks indicate that Robinson was actually overpaid for work completed. In fact, some of the invoice line items request payment for work that was not even done, but for which Robinson was paid. Please see

    2. Lien waivers were produced by Robinson for work done at Lake Village. If lien waivers were produced, which are evidence of prior payment, either payment had been received, or the lien waivers were fraudulently signed. Please see
      • Robinson Lien Waivers 1    View
      • Robinson Lien Waivers 2     View.

    3. In Colorado, it is typical that the time elapsed from the date that the contractor has left the work-site/completed work, to the time a mechanic's lien may be filed, cannot exceed 120 days. Robinson left the job site in November of 2006 and the liens were filed in September of 2007...9-10 months, 270 or more days after completion of the work which was last invoiced.

    4. Relationship. Robinson and Sons and Robinson Construction are two different companies controlled by Randy Robinson. It is our understanding that Robinson and Son's may have paid remaining obligations to Robinson Construction in order to clear up any performance bond requirements. If this is true, Robinson Construction has no lien rights as it was paid, even if Altus Bank's accounting department had not paid Robinson Construction for completed work for MAPI.

    Question J. Once Vectra Bank was made aware of the status of the Robinson Construction liens, why did Vectra Bank not argue more diligently the legitimacy of said liens given the:

    1. Paid Invoices
    2. Lien Waivers/li>
    3. Time Elapsed between completion of work and filing liens (over 120 days)./li>
    4. Relationship between Robinson Construction and Robinson and Sons; indications of conspiracy between Altus Bank and Robinson in filing the liens; Deposed Testimony of Kirk Moison; Robinson's audit statements of June 2007, etc./li>

    Response: No one knows. Instead of pursuing the validity of the liens, Vectra Bank apparently decided to pursue the Guarantors; Roger Johnson, Ron Sills, Grassy Creek Holding Company, 4S Development, etc. for payment by filing judgements against the guarantors, rather than looking to their ample collateral value evident in the Lake Village lots and model homes. The December 31st, 2007 MAI appraisal for Lake Village was $6.9 million against which Vectra Bank had loaned $3.3 million.

    A more detailed overview. View more.

  • Financial shell games -

    The shell game involved the use of multiple FSB Bancorp Altus group subsidiaries along with a few outsiders who were well rewarded. As you will see the same individuals served as president (Paul Doughty) and/or vice president (F. Don Anderson) of each of the group subsidiaries.

    With Anderson serving as an officer of the partnership MAPI. This allowed these two individuals to work both sides of virtually every transaction, without the knowledge of others. Then add co-mingling the funds and accounting of MAPI with the funds and accounting of the group of subsidiaries, many which were tied to the partnership. View still more

  • Mirrored bank accounts -

    Mirrored bank accounts are used deposit checks or redirect money wires intended for someone else.

    Mirrored bank accounts are typically, as in this case, accounts set-up with the same name of a company, but in another bank. Often in another state.

    1. The following document is showing where checks and a wire transfer recorded as paying Grassy Creek Holding with an account at Alpine Bank in Colorado are diverted to Grassy Creek Holding account at First State Bank Altus Oklahoma. The wire transfer goes to Grassy Creek Development at First State Bank Altus. Note: there was no signature on the checks deposited in First State Bank Altus.

    Both banks should have caught this. Paul Doughty was president of First State Bank and Altus David Bruni was an officer at Vectra Bank when the checks were accepted without a signature or full knowledge of the other partners.

    Note: David Bruni was soon hired by Don Anderson as president of MAPI, at a significant increase in salary, signing bonus and performance bonus plan without the full knowledge of the other partners.

    Definite Mirror Account for GCH at First State Bank of Altus based upon Vectra MAPI account activity

    2. This documents backs up GCH's position they had no knowledge of an account using their name existed at First State Bank Altus

    Supposed Mirror Account for MAPI at First State Bank of Altus based upon Peachtree Server documentation

  • 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 leaving insufficient funds to meet the loan demands.

  • Kickbacks -

    These kickbacks were in the form of using partnership funds to refund down payments on lots. Something the property owning partners had no knowledge.

    Note: For the most part these lots went to acquaintances without any out of pocket cost. Financing was handled by FSB Bancorp subsidiaries. As will be seen else where this has all the markings of a pattern of placing property in collateral holds facilitating seizures through foreclosure. A way to "tie the land up with mortgage liens" at little if any cost. The only step left was to drain the partnership of liquidity, which we will see elsewhere how this was accomplished.

    Below is a link to a document showing closing statements and checks refunding down payments or kickbacks.

    Unauthorized Refund of Down Payments to Mt. Harris Lot Investors

What part did banks play? Can we no longer trust banks?

Did these two banks fail to fulfill fiduciary responsibility by allowing wire transfers and checks to be improperly sent and deposited, without proper signatures? Read and be the judge if this claims are justified? Bank Fraud, Bank Default/Fraud/Predatory Lending, Unauthorized Expenditures/Activities, Predatory Lending. Are others?

  • Did Vectra Bank Colorado fail to fulfill its fiduciary responsibility? View more.
  • First State Bank Altus OK -

  • Bank Default/Fraud/Predatory Lending. On April 26, 2006, First State Bank Altus made a loan to 4S in the amount of $9 million, of which only $4.8 million was dispersed. The collateral value of this land parcel, which secures this loan (by appraisal), is currently $22 million. This created three design (Mr. Sills and Johnson stated they believed):
    1. Not only was the balance ($4.2 million) of the loan not funded by First State Bank Altus as agreed, thus hindering efforts to develop, build and deliver marketable product and thereby generate revenue (at one time Mr. Sills and Johnson stated they had numerous purchase reservations in The Lake Village, 15 of which had been converted to contract and the majority have since been canceled), also;
    2. The First State Bank Altus loan tied up the collateral that would have otherwise been available to obtain financing elsewhere, and;
    3. If the balance of the First State Bank Altus loan had been funded, it is reasonable to assume that even without closed sales, funds would be available to pay vendors; make interest payments; retire Vectra Bank debt, pay off liens (bogus or not) and otherwise remove obstacles to delivering finished product to our customers.

    4S and GCHC contend that First State Bank Altus, Altus Venture, and Robinson Construction conspired to create a default position by withholding loan proceeds and filing fraudulent liens in order to take over the assets of 4S and GCHC. It is common knowledge that a default position makes it very difficult to obtain replacement financing. GCHC and 4S do have written communication between the aforementioned members of MAPI that provides evidence of such a conspiracy.

  • Unauthorized Accounts/Embezzlement. While Mr. Sills and Johnson said they cannot be certain as to the exact status of these accounts at this time, it appears that an account was established at First State Bank Altus in Oklahoma under the name of "Grassy Creek Development" (which company does not exist) to which deposits were made from MAPI land sales but which were used by Altus Venture without knowledge or consent of GCHC, whose only account is at Alpine Bank in Steamboat Springs, Colo. A MAPI bank account was apparently established at First State Bank Altus and used by the principals of Altus Venture without the knowledge or consent of the managers. A 4S account was established at the First State Bank Altus in Oklahoma from which both Bill Grissom and Don Anderson signed checks even though they were not authorized signatories on any 4S account.

  • Predatory Lending. Altus Venture/First State Bank Altus were in control of the finances for MAPI, which included payment of the Robinson Construction invoices. After the appointment of additional managers in August 2007, even though by then some $27,000,000 in sales and loan proceeds had been generated (not including the $4.2 million portions of the loan mentioned above that was withheld) First State Bank Altus and Altus Venture apparently encouraged the filing of liens on Villages of Hayden, Hidden Springs Ranch and Mt. Harris by Robinson Construction on all of MAPI's finished product, thereby eliminating MAPI's ability to generate sales revenue.

    First State Bank Altus knew that all of the Robinson Construction cost had been paid for at The Villages at Hayden. It was the responsibility of First State Bank Altus and Altus Venture to pay these invoices, and they had the payment records at the time the liens were filed.

  • Having a computer expert access, the server enabled 4S and GCHC to review hundreds of documents and pages of correspondence between the principals of Altus Venture, First State Bank Altus, Bill Grissom and others associated with the project. Over the last 4 months, (September thru January) additional documents have been obtained, including bank records, bank statements and checks; promissory notes, e-mails; and title company closing documents which indicate some, if not all, of the following, may have occurred:

    1. Bank Fraud. Investors/buyers, associated with Altus Venture, bought Mt. Harris lots making 10% down-payments (ranging from $63,000 to $72,500). MAPI carried back second mortgages at closing for an additional 10% of the purchase price. Bank financing (primarily through First State Bank Altus) was obtained for 80% of the purchase price. After obtaining bank records, 4S and GCHC discovered that these investors/buyers were rebated their down-payments without MAPI managers' knowledge or consent. Buyers introduced to Mt. Harris project through 4S or GCHC did not receive a "rebate." This aggregate "rebate" amount totaled some $720,000. This money belonged to MAPI and was not authorized as a rebate.

  • First State Bank Altus cover-up. - Will the FDIC be successful in locating the Altus group's financial records? View more.

"it is our opinion that depositors or creditors could incur significant risks" Ratings, Inc. Re: FSB Bancorp and First State Bank, Altus OK

Additional details about MAPI

FDIC and Federal Reserve Board issue Cease and Desist Order to FSB Bancorp and affiliates. View more.

Full set of case documents View more.

For a growing list of lawsuits accusing FSB Bancorp Altus and subsidiaries

MAPI Overview, Structure & Membership Interest. Diagram. View more.

MAPI Scheme Time Line View more.

Disclaimer. This is the writers best interpretative reconstruction of the events based on information gleamed from the Colorado lawsuit and other available sources. The fact that the Altus Group, in spite of a court order, has yet to provide a full accounting to the other partners leaves some information incomplete and best good faith estimate.

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