Douglas John Vermeeren is CEO of Millionaire Training Systems but claims to be a lot more than that, counting author, movie producer and wealth management expert among his many accolades.
However, it seems he may not be as much of an expert as he though after claims have emerged that Vermeeren has violated a cease trade order imposed against him and his company, Monthly Millionaire Mentor Ltd.
This company offers courses and events which teach attendees ‘the major strategies that millionaires use to create wealth’ as well as how to assess investments and opportunities.
The Interim Cease Trade Order, issued in March of 2013, prohibited all trading in or purchasing of Monthly Millionaire Mentor securities. It also meant that the firm and Vermeeren were denied the use of all Alberta securities laws exemptions and were prohibited from trading in or purchasing all securities.
Despite the restrictions Vermeeren is accused of raising $1.3m by entering into loan agreements illegally. It is thought he did so with at least 72 investors from Alberta and elsewhere in Canada on March 15, 2013 and collected investments on XX 3, 2014 and on November 14, 2013 under the pretence that they were loans for various projects.
One of the “loans” in question was said to be to help Vermeeren produce one of his movies. So far he has said to have produced movies The Opus and The Gratitude Experiment.
The Alberta Securities Commission has said it will meet on 24th of November in Calgary to set a hearing date for Vermeeren where they will assess the allegations.
On his blog, Vermeeren has previously written about financial freedom and its definition.
“Financial freedom is an exact number. How much exactly do you need to meet your obligations each month. When you passively achieve the exact amount of income you need so that all your obligations and expenses are met you are financially free.
“Financial freedom is important – but financial abundance is where life really begins to change.”
The self-proclaimed author is further accused of making false statements to investors. These are said to have included information on the risk level of the investments, his success in investing and the amount of funds he managed for investors. He is also accused of perpetuating a fraud on investors by converting investment funds for personal use or using investment funds to pay returns to other investors.
One of Vermeeren’s books, Guerrilla Millionaire, is available to buy on Amazon.