RCMP probes allegations against Shire International
I remember someone posting a question about Shire International, and saw this article in the news. Its cut and pasted below. But this just gives us a reminder to always ensure an investor accumulates enough knowledge before jumping into an investment. In this case its RE, but principle applies for all other areas.
The original related post:
http://www.redflagdeals.com/forums/show ... ight=shire
[QUOTE]Last Updated: Thursday, September 3, 2009 | 3:15 PM ET Comments12Recommend7
CBC News
The RCMP are investigating allegations against Calgary-based Shire International Real Estate Investment Ltd.
Sgt. Patrick Webb of the RCMP commercial crime unit said the force is trying to determine whether a crime has been committed.
"We're collecting some information from the people trying to determine if there's an offence here," said Webb.
The police involvement follows an earlier investigation of the company by the Alberta Securities Commission, which resulted in a cease-trade order against the company amid allegations of misrepresentation and fraud.
Jennifer Lofgren, one of the investors involved in a $75-million class-action civil lawsuit against the company, said she invested almost $80,000 in two different condo projects in Fort McMurray and Hawaii in 2006.
"We were a little bit concerned about how things were going because we weren't getting a lot of information," said Lofgren. "But then on June 5 we received a letter from the company and they
The original related post:
http://www.redflagdeals.com/forums/show ... ight=shire
[QUOTE]Last Updated: Thursday, September 3, 2009 | 3:15 PM ET Comments12Recommend7
CBC News
The RCMP are investigating allegations against Calgary-based Shire International Real Estate Investment Ltd.
Sgt. Patrick Webb of the RCMP commercial crime unit said the force is trying to determine whether a crime has been committed.
"We're collecting some information from the people trying to determine if there's an offence here," said Webb.
The police involvement follows an earlier investigation of the company by the Alberta Securities Commission, which resulted in a cease-trade order against the company amid allegations of misrepresentation and fraud.
Jennifer Lofgren, one of the investors involved in a $75-million class-action civil lawsuit against the company, said she invested almost $80,000 in two different condo projects in Fort McMurray and Hawaii in 2006.
"We were a little bit concerned about how things were going because we weren't getting a lot of information," said Lofgren. "But then on June 5 we received a letter from the company and they
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Investor Motivation: The rich were not always rich, everyone had to start somewhere.
Investor Motivation: The rich were not always rich, everyone had to start somewhere.