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Tag: Alberta Securities Commission

In Alberta, 1 in 3 Report Being Approached With A Possible Fraudulent Investment, Securities Commission Says

Carefully checking and protecting before investing is part of the theme behind Fraud Prevention Month in Alberta, the Alberta Securities Commission said today. As part of its initiative, ASC rolled out a noontime “free lunch” in Calgary. The agency said it used the Mighty Skillet food truck at City Hall “to offer Calgarians a free…

Mar 13, 2014
In Case Reminiscent Of Profitable Sunrise, Alberta Securities Commission Finds That Dale Joseph Edgar St. Jean And Gregory Dennis Tindall Made False Statements And Conducted Ponzi Scheme

Two men conducted an offering fraud tied to a purported “bridge lending” business and wiped out investors in a $52 million Ponzi scheme, the Alberta Securities Commission said yesterday. Some of the allegations against Dale Joseph Edgar St. Jean and Gregory Dennis Tindall were remarkably similar to allegations in the United States against the Profitable…

May 14, 2013
BULLETIN: Alberta Securities Commission Issues Warning On ‘Profitable Sunrise’ After First Calgary Financial Observes ‘Trend’ Of ‘Suspicious’ Overseas Transactions

BULLETIN: The Alberta Securities Commission (ASC) has issued a warning on the Profitable Sunrise “program.” The Canadian agency’s move followed on the heels of reports from First Calgary Financial that “several of its Calgary customers have attempted to withdraw significant amounts of funds from their accounts for wire transfers to the Czech Republic,” ASC said.…

Mar 11, 2013
BULLETIN: Gold Quest International (GQI) UPLINE/DOWNLINE Groups Will Be Subject Of Hearing By Ontario Securities Commission; Case Alleges Respondents Were Both Investors And Promoters Who Pushed Unregistered Securities Of Bizarre Firm

EDITOR’S NOTE: If you’re pushing Ponzi schemes on MoneyMakerGroup, TalkGold and other criminal forums, allegations brought by the Ontario Securities Commission (OSC) against geographically localized promoters of Gold Quest International (GQI) may interrupt your delusions of invincibility over the next several weeks. Upline and downline networks within Gold Quest International (GQI), a bizarre company taken…

Feb 21, 2011
Canadian Regulators Attack ‘Pay It Forward’ Scheme; Many Autosurfs, Cash-Gifting And MLM Schemes Use Similar Marketing Approach

Trading off a popular phrase, Kerry John Oâ€™Neill’s “pay-it-forward” scheme has landed him in trouble with Canadian securities regulators, wiped him out financially and implicated an associate who helped him sell the scheme. O’Neill even named his scheme the “Pay It Forward Program” (PIF), according to the British Columbia Securities Commission (BCSC), which accused him…

Feb 20, 2010
BULLETIN: Alberta Securities Commission Rules Gold Quest International A Ponzi Scheme AND A Pyramid Scheme; Panel Concludes GQI Was A ‘Sham’

UPDATED 7:03 P.M. ET (U.S.A.) The Alberta Securities Commission (ASC) has ruled Gold Quest International (GQI) a Ponzi and a Pyramid scheme. An ASC panel determined that GQI met the conditions for a Ponzi scheme because it had no viable product and paid earlier investors with money from new investors. It also was a pyramid…

Jan 21, 2010
Receiver In Gold Quest International Ponzi Scheme Case Settles With Charles Capps Ministries For $100,000; Other GQI Money Is Part Of California Homicide Investigation

All that glitters was not gold in the seedy world of Gold Quest International (GQI), according to the receiver in the GQI Ponzi scheme case. Corrupt money was given to a ministry in the form of a gift, and other corrupt money is part of a homicide investigation in Los Angeles, according to court filings.…

Dec 21, 2009