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Email this8:22 pm
March 15, 2019
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https://globalnews.ca/news/113.....ice-probe/
What's the issue here?
9:31 pm
November 18, 2017
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I think this was the subject of one of CBC's consumer shows... Fifth Estate, perhaps? It seems like a straight-up case of sucking out depositors' cash, much like many Ponzis.
RetirEd
9:41 pm
April 27, 2017
Online
My understanding…
Circa $10M in other peoples’ money just evaporated, leaving no trace. Then the exact same people responsible for evaporation turned around to set up another brokerage.
And RECO let them. And police got RECO to decide whether to press charges. And RECO decided not to bother (until it all became public and the scandal blew up). And insurance decided to cover the losses without going after the perpetrators.
It reads like Mafia doing “business as usual” and a universal corruption story across the brokerage, the regulator and police.
6:05 am
March 15, 2019
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Long story short. So, the home purchasers were eventually made whole?
I think we gave the money to our lawyer (partner in a major law firm) when we bought our house.
BTW: It's now virtually impossible to buy a decent house in Toronto for less than $1.5mm-$2mm.
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