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Email this7:30 am
November 9, 2023
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Freeland imposes extraordinary measures to force out founding investors of Wealth One Bank with alleged ties to China:
https://www.theglobeandmail.com/politics/article-freeland-wealth-one-bank-shareholders/
Ottawa ties Wealth One founders to possible Chinese interference:
8:09 am
May 20, 2016
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Need to pay to read the 2nd article. Can anybody please post the article here?
1st article was published last year.
I still have 2 GICs with Wealth One Bank.
8:47 am
January 12, 2019
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.
Ditto ⬆ ... I can't read those articles 
The first one is from a Year ago, but the second one appears to be New !
- Dean
" Live Long, Healthy ... And Prosper! "
9:12 am
April 27, 2017
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No new info on W1 in G&M’s article. The owners of the bank are suing the government because they don’t want to divest. Claiming the government is just playing politics and it’s nothing to do with Beijing’s communists. Freeland claims the opposite.
10:46 am
April 14, 2021
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I just used https://www.removepaywall.com/ to view both articles.
11:43 am
January 12, 2019
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With HermanH's help ⬆ (Thanks 
) . . .
I was able to read the newer second article (dated today), posted by Christoph. But unless I missed something, there doesn't seem to be anything New in it. It appears to be just a Rehash of what has transpired so far, with no new developments.
Did I miss something ?
- Dean
" Live Long, Healthy ... And Prosper! "
6:16 pm
March 15, 2019
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I kept my funds within CDIC limit.
7:03 am
February 7, 2019
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I searched for "Freeland Wealth One Bank" and got this ...
https://financialpost.com/pmn/business-pmn/canada-orders-wealth-one-bank-shareholders-to-divest
| CGO |
9:26 am
January 12, 2019
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Thanks for that ⬆, Cgouimet ... good find !
But like all the other news links in this thread, it's just Rehashing year-old news from '23.
- Dean
P.S.
Unlike some here, I've Never invested with W1BoC and Never will,
until completely New owners (Globalive Capital Inc.?) take over.
" Live Long, Healthy ... And Prosper! "
9:30 am
February 7, 2019
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Dean said
.
Thanks for that ⬆, Cgouimet ... good find !But like all the other news links in this thread, it's just Rehashing year-old news from '23.
Dean
P.S.
Unlike some here, I've Never invested with them and Never will,
until completely New owners (Globalive Capital Inc.?) take over.
I know. I don't have any skin in that game either ...
I prefer to search for alt sources instead of bypassing pay-wall's.
| CGO |
2:09 pm
October 27, 2013
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I think the difference this time is Freeland is going to court on the issue versus simply 'ordering' them to sell their interest.
P.S. I do not support the bypass of media paywalls either. I subscribe to G&M's digital edition to support what may be the only comprehensive centrist paper left in Canada.
6:40 pm
September 11, 2013
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I can't find any other info on this via google and don't have a Globe subscription (I consider it a far-left rag, it's not at all the Globe of decades ago) so can't read the article. Here's another article from CTV from a few months ago which indicates Wealth One founder is suing federal government, not sure if this has anything to do with Freeland's involvement mentioned above.
I've used Wealth One since day one, no problems at all with it, sometimes has high interest rate promos due to some Chinese calendar or number superstition, not really the way to run a financial institution in my assessment but if it profits me as a customer why not take advantage? Definitely make sure to stay under CDIC limits.
11:52 am
April 6, 2013
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Finance Minister does not need to go to court to order the divestment. She can just order it.
The September 6 Globe & Mail article is about her responding to the court application by three of the Wealth One Bank founders for a judicial review of her April 2023 order.
4:01 pm
October 27, 2013
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Ahhh...my mistake. I should read stuff a little better.
12:29 pm
March 16, 2018
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Norman1 said
Finance Minister does not need to go to court to order the divestment. She can just order it.
Somehow this case reminds me of the SNC-Lavalin case a few years back, where the PM dictates the AG to do something. This time, it is the FM's turn to fulfill an order from the top.
11:38 am
January 12, 2019
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Has the Globalive/W1BoC Deal fallen through ... or is it just in some sort of perpetual 'Suspended Animation' ?!
I haven't heard/seen anything since . . .
.
If there's any new news out there, I haven't been able to find it.
- Dean
" Live Long, Healthy ... And Prosper! "
5:47 pm
April 5, 2025
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For your info:
Acquisition of WealthONE Bank by Canadian Consortium of Investors Led by Globalive Approved by Government of Canada
https://www.newswire.ca/news-releases/acquisition-of-wealthone-bank-by-canadian-consortium-of-investors-led-by-globalive-approved-by-government-of-canada-897367103.html
6:13 pm
April 6, 2013
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Globe & Mail (June 18, 2025): Globalive says Ottawa has approved its bid for Wealth One Bank also reported the approval.
Sometimes, the articles are under tradename "WealthONE". Others are under the legal name "Wealth One Bank" or "Wealth One Bank of Canada".
7:37 pm
October 27, 2013
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April 6, 2013
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According to the Globe & Mail article, Globalive and a consortium of investors will pay $58 million for 65% of a special purpose vehicle (SPV).
Existing Wealth One Bank shareholders will sell all their shares in the bank to the SPV in return for a 35% economic-interest-only stake in the SPV.
Please write your comments in the forum.