Viewers of this blog may recall that I have written a number of times about Matthew Quigley and the fraud he is pretreating on small businesses.
But new evidence has come to light suggesting that the ‘brains’ begins the operation may in fact be Danny Chapchal – former business partner of the late Loyd David Young, Baron Young of Graffham.
Background
As I have written here the Zenith Partners scam works in part by Matthew Quigley taking ‘administration fees’ for managing funds said to be in Poland (latterly Luxembourg). These funds don’t exist, and what Quigley is doing ought to be regulated by the Financial Conduct Authority – but suffice to say neither Zenith Partners or Matthew Quigley are FCA approved or regulated (or seemingly Danny Chapchal for that matter). The funding is never achieved, the ‘administration fees’ are ultimately never returned, and the businesses stuffed for the cash with no investment.
Another part of the scam is Zenith Partners running large bills up with solicitors before switching to different ones. In some cases, it has appeared that those law firms represented Quigley and Zenith, despite failing to complete anti-fraud and anti-money laundering checks (see here). People seeing that Zenith have instructed reputable solicitors will assume everything is above board.
The result of this is that hundreds of businesses in the UK, Europe and even the USA have been left out of pocket and without much needed investment.
Who is Danny Chapchal?
Danny Chapchal (or Daniel Robert Chapchal) is a self-titled ‘serial entrepreneur’, who (according to the late Lord Young’s wikipedia) was part of (the failed) TSSI Systems Ltd – which went bust owing nearly £6.2M to creditors – and just £27,500 in the bank to attempt to pay them.
According to Companies House, Chapchal is or was a Director of some 37 different companies – of which 16 have either been dissolved, or are in liquidation. Quite the entrepreneur!
Danny Chapchal’s connection with Zenith Partners and Matthew Quigley
Most concerningly, Daniel Robert Chapchal is listed as holding a shareholding in Zenith Partners Limited, but notably is not a director. That would be the same Zenith Partners that according to Companies House, has failed for almost a year to file accounts or an annual return.
You might think Danny Chapchal is another victim in Quigley’s web of lies – but it seems that Chapchal may be pulling some of the strings;
- Recently in a meeting, Chapchal was quoted as say that he is having to “remove” Matthew Quigley from being the face of Zenith Partners because a blog had exposed him. I wonder which blog that could be?
- In text messages seen by this blog, Danny Chapchal had stated to those desperately waiting for investment (and having paid fees to Zenith Quigley) that “funds are starting to flow”.
- The above message followed up with Chapchal stating that the (non existent) fund in Poland was being transferred to Luxembourg, and things had come to a halt in Poland because of this. This would appear to be the opposite of the previous position, that funds were flowing.
- Chapchal in another text message said Fund 1 was said to be “closed” and Fund 2 was due to start on 1 November 2024 – despite seemingly nobody ever getting their money from Fund 1.
- In another text message Chapchal said: “the money exists of that there is no doubt”.
- Danny Chapchal stated he would message Matthew Quigley for updates on various case progressions.
This would all tend to indicate that Danny Chapchal has a close involvement with Zenith Partners and Matthew Quigley…
However, other reports have stated that Danny Chapchal has been a staunch salesman for this supposed ‘fund’ either in Poland or Luxembourg – and if the reports of him ‘replacing’ Matthew Quigley are true, then in fact Danny Chapchal has much more control over this scam than first realised.
Our view on Danny Chapchal?
It is difficult to tell how much involvement Danny Chapchal has with the Zenith Partners scam and Matthew Quigley, from the publicly available documents. But plenty of private individuals are prepared to testify it being quite a lot!
Our involvements with the Zenith Partners scam have been with Matthew Quigley – who has a terrible track record.
Running 37 companies, of nearly which half have failed or disappeared doesn’t appear to be a great track record for Danny Chapchal either. He is clearly a Matthew Quigley fan, somehow part of Zenith Partners, and prepared to either lie about the funds in Poland/Luxembourg, or claim he’s seen something that doesn’t exist.
So if Danny Chapchal purports to be able to offer you funding for any kind of business; be very very careful and don’t pay him a penny up front!
Contact with Danny Chapchal
This blog has made attempts to reach out to Danny Chapchal for a right of response and/or to explain his involvement with Zenith Partners and Matthew Quigley. Mr Chapchal has not responded to us in any way whatsoever, despite messages to him being marked as “read”.
