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Wealth Professional | 25 Mar 2015, 11:18 AM Agree 0
An alleged Multimillion-dollar fraud crosses provincial borders hurting investors in Alberta, B.C. and elsewhere.
  • Bob T | 25 Mar 2015, 11:58 AM Agree 0
    Unfortunately I believe that your headline gives too much credit to those who were taken in this fraud. Calling a person an "Investor" in this case indicates that the person had some level of sophistication. In fact I would classify them as "Gullible Individuals" rather than Investors.
    In my books in order to qualify as an "Investor" you would have had to have done at least some due diligence.
    These types of frauds have been all too common in Alberta. Individuals are lured in by promises of hefty returns (guaranteed, of course) and the feeling that failing to invest means they will miss out on some huge opportunity in real estate (which of course they aren't making any more).
    There are often affinity issues as well. These products are often marketed under the "exempt market" to so called "sophisticated investors". If these are indeed sophisticated investors why would we feel sorry for them.
  • NEMA | 25 Mar 2015, 04:34 PM Agree 0
    This is a tragic story, but the article fails to mention this is a pre regulation (NI 31-103) blow up. The land is still held be the investors with no debt on it west of Calgary.
  • Will Ashworth | 27 Mar 2015, 11:37 AM Agree 0

    Thanks for pointing this out to WP. Feel free to contact me at if you have more info you'd like to share.

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