A while back one of you contacted me regarding so called “confidential” information you said you knew about regarding my hearing – in your wording you indicated that “Staff at the BCSC acted in bad faith while preparing for our hearing in April 2014.” And that you (after reading this blog) had information regarding this that you thought I should be made aware of.
First of all – Thank you very much for contacting me – it is nice to see there might just be someone at the BCSC with ethics!
You indicated you would like to meet and discuss things in person and said that you would contact me again – PLEASE do so in the same manner and I promise your confidentiality will remain in tack if that is your wish. I would very much like to meet with you as per your suggestion.
I look forward to hearing from you ASAP! Do not let these alleged practices (mentioned in your message) continue at the BCSC! One could very easily conclude that many people (specifically the FCC and DCF investors) were possibly affected by the actions of certain BCSC Staff members during the relevant time.
In November 2007, the Developer of the Falls Resort approached me and asked if I knew of anyone that might purchase a unit in the Deercrest Townhomes, located on the property. He had Unit 101 that was available for sale and the Respondents indicated they would ask around. I called one of the investors in Edmonton and asked if he wanted to buy and he indicated he would.
Shortly there later, a commission cheque in the amount of $24,292.75 arrived made payable to West Karma Ltd. I placed the cheque into the WKL bank account and NEVER wrote a cheque to myself personally. Looking at the bank account statements for WKL for the following 10 days, $20571.61 was spent directly on business expenses for WKL and FCC and $5,801.49 was used for personal expenses.
THESE WERE NOT INVESTOR FUNDS YET PAID FOR BUSINESS RELATED DIRECTLY TO THE WKL AND FCC.
That’s fine – people place funds into their business accounts on a regular basis as shareholder loans. IF the BCSC’s Executive Director (and his Staff) wanted to bring accurate allegations in their Notice of Hearing they needed to complete a proper accounting and bring in a proper number into the allegation….but let’s see what Lead Investigator Elizabeth Chan had to say during the cross examination during our hearing in April 2014:
Q Can we put up, pull up Exhibit 00240? Can you please read this letter for the panel?
A Just the body of the letter, like, —
Q Just —
A — after the “re” line?
Q Just lead the letter please, from who it’s addressed to, and who it’s from and the body of the letter, sure, please.
A Okay. So, I don’t think this is a document that I obtained. Uhm, it says:
West Karma Ltd., BC Dear Sirs/Mesdames: Re: Sales of 101-51096 Falls Court, Chilliwack, BC (the “Property”) by Blackburn Developments Ltd. (the “Seller”) to -REDACTED- (the “Buyers”) effective November 23, 2007 (the”Completion Date”). As notary for the seller, we enclose our firm trust cheque drawn in your favour, in the amount of $24,292.75 representing payment in full for the Commission with respect to the above transaction. Please provide our office with a receipt for payment at your earliest convenience. We trust you find the foregoing and enclosed to be in order, however, should you have any questions, please do not hesitate to contact the writer or Shirley MacKillop of this office. Yours truly, Simpson & Simpson. And the name there says, “R. Dean Simpson” and the letter, the date, November 23, 2007.
Q Thank you. And have you ever seen this document before?
A Uhm, I didn’t obtain this document during the course of my investigation, but I did see it in the binder of materials of materials contained in documents that you were intending to rely on.
Q That’s the first time you saw it though?
Source: Hearing Transcript, April 11, 2014 (pages 23-25)
This is the testimony of Staff’s most important witness – a Certified General Accountant with what appears to be a cracker jack degree from the University of British Columbia in Bachelor of Commerce? That she never saw items going into the bank account that were relevant IF they wanted to bring an accurate number into the hearing room. Elizabeth Chan is a highly paid Senior Investigator with the BCSC – it is HER job to find out the numbers used in the Notice of Hearing are accurate! There is NO excuse for the sloppy work Staff completed in this matter!
How is this even possible is the onus was on the Executive Director to bring in clear and compelling evidence to prove the allegations in the Notice of Hearing? Was the Respondents not entitled to a fair hearing with accurate numbers as the BCSC boasts on their website?
For the allegations to be proven by the Executive Director of the BCSC…
Former BCSC Executive Director – Paul Bourque
…Staff had to prove “on the balance of probabilities” that they had made their case. One could conclude that bringing in a WRONG number into a hearing room would all but destroy their case – but not at the KANGAROO COURT know as the BRITISH COLUMBIA SECURITIES COMMISSION!
What a bunch of CLOWNS! Time to drain the swamp of these BOZO’S!
Crooked Christy Clark continues to get negative comments from major new outlets regarding her “PAY TO PLAY”functions – this time from Canada’s Globe and Mail.
In the article it states, “While these “pay-to-play” events have been denounced across the country, Ms. Clark has been steadfast in her support of them. And why wouldn’t she? Her party benefits enormously from the current rules. Last year alone, the Liberals took in more than $12-million in donations, with the vast majority coming from corporations and the rich.”
It truly is sad that people of this Province are not doing something about this – she has lost at virtually every level – take the latest BC Hydro fiasco out lined in this article.
Okay, let’s get this straight – B.C. is currently paying millions of dollars to independent power producers to NOT produce power because there’s such an oversupply. Meantime, BC Hydro is busy building a $9 billion dam while arguing that B.C. needs more power? Does this make sense to anyone? Even the biggest Liberal people I know are not agreeing with this! WAKE UP PEOPLE!
This is also the same government that pays the failing BCSC Chair BRENDA LEONG nearly $500,000 per year to run the BCSC. Brenda Leong can only be seen as failing at her job when her staff have collected under $200,000 of the nearly $350,000,000 in fines they have ordered over the years. That only .0004590 cents on the dollar. If you or I had this little success doing our jobs we would be terminated instantly!
It looks like the definition of a CHICKEN SHIT COWARD continues to be the BCSC’s junior litigator Olubode Fagbamiye! In repeated request for Fagbamiye to answer our questions, he continues to cower and hide from answering any of them (or even denying our allegations). As you are aware, we sent him a formal letter on December 7, 2016 after our phone call to his office. During the phone call on December 5, 2016 he specifically says to write the questions down and communicate via written correspondence. Was he just saying that to get off the phone? It now appears so!
According to our friends at http://bcsccriminalcharges.blogspot.ca , this would put Fagbamiye in breach of a “Statutory Requirement for a government department to reply to all written correspondence within 14 days…”. If true, how does this continue to happen at the British Columbia Securities Commission? How are they above the law?
Mr. Fagbamiye – how does it feel to look in the mirror and know that you are part of the issues that continue to haunt the BCSC? How does it feel to be such a coward and fail miserably at your job?
Can someone working at the BCSC go down the hall way and make sure he is awake? Perhaps he naps throughout his days and has issues with getting his job done? Who knows?
Hows it going at the BC Securities Commission today?
I was hoping you could help me find a file..
B.P. and R.P. vs BCSC, its that case where the Appeal Court Judge found that the BCSC had made misrepresentations and acted contrary to public interest by judging hundreds guilty without trial and publishing their names.
It seems to have been erased from your records.. do you know who would do such a thing or why they would do it?
Some people might say it doesn’t exist but we have evidence that it does/ or did exist and happen.
Why does your agency claim to be transparent and ethical when this is a complete lie?
See file attached..
How come we cant find any record of this on your website any longer?
What are you hiding? -END-
Again, the ruling by the Appeal Court of BC judge was profound in that the judged found the BCSC “acted contrary to public interest by judging hundreds guilty without trial and publishing their names.”.
This isn’t that hard to figure out – someone at the BCSC does not want the public to have access to this ruling by the Appeal Court of BC so they appeared to have somehow managed to have the record removed (expunged) from official court records in BC.
If this is fact – the people at the BCSC (or whomever order the records to be expunged) have broken the law! Perhaps it wasn’t BCSC Chair Brenda Leong but she surely would have to know about this – right?
As we reported last week, the actions of Crooked Christy Clark’s government have garnered international headlines – specifically with a New York Times reporter who called British Columbia the “Wild West”.
This week, David Ball (a reporter from Metro News in Vancouver) contacted the NYT and interviewed reporter Dan Levin. Ball article states, “New York Times reporter Dan Levin never expected his visit to British Columbia to earn him rebuke from the province’s leaders.
Q: The fact that the New York Times is looking at us has made you a bit of a celebrity here.
A: The New York Times looks at the whole world. It’s a free press. There are amazing things about Canada, but unfortunately what’s happening in B.C. is not one of them. Checks and balances are important, and hopefully this will spur British Columbians and other Canadians to take a closer look at how their governments behave.”
Why does nobody in this Province seem to care what Clark’s government continues to do? Why do they seem to have free reign over shoddy business dealings, crazy travel expenses, and a “pay-to-play” system of doing business.
It has now been over 5 weeks since we contacted Mr. Fagbamiye by phone (and then by letter) and he continues to hide from answering simple questions that would allow the former investors in both FCC and DCF to hear first hand whether or not staff at the BC Securities Commission acted in bad faith when preparing legal documents in our matter AND whether or not they erred in not taking the Settlement Offer to the Executive Director of the BCSC (whom we were told was the ONLY person at the BCSC that would be able to accept our settlement offer.
Mr. Fagbamiye (as we have seen for weeks now) appears to be a coward and will not answer our questions – despite even telling me to put my questions down on paper and that he would answer them accordingly. And on Saturday, we tried AGAIN in vain to get Fagbamiye to answer our questions…
Mr. Fagbamiye is hiding something and we need to get to the bottom of it once and for all. I am calling on all former investors in FCC and DCF to call, write, email, fax, text, etc. Fagbamiye and ask him to answer these questions.
They are going to have to answer them sooner or later – the walls at the BCSC are NOT going to allow them to not answer these questions for much longer. Our story is getting bigger by the day and as certain politicians that are appearing to aid the staff at the Commission are replaced – those that have acted in bad faith are going to be exposed.
CROOKED CHRISTY CLARK has made the BIG TIME! – in a recent article in the New York Times, reporter Dan Levin writes, “As the premier of British Columbia, Christy Clark is on the public payroll, pulling down a salary of 195,000 Canadian dollars in taxpayer money. But if that were not enough, she also gets an annual stipend of up to 50,000 Canadian dollars — nearly $40,000 — from her party, financed by political contributions. Personal enrichment from the handouts of wealthy donors, some of whom have paid tens of thousands of dollars to meet with her at private party fund-raisers? No conflict of interest here, according to a pair of rulings last year by the province’s conflict-of-interest commissioner — whose son works for Ms. Clark.”
Who has had enough of this vial piece of garbage? It is time to #DRAINTHESWAMP in the Province of British Columbia! Treason, breach of trust, fraud – you name it! Throw the book at her!
As indicated in an earlier blog – as part of an FOI request, we asked the BCSC to provide a copy of the original Fraud Fighter video they launched on November 6, 2014 as part of their renewal of their “award winning” campaign against securities fraud.
As you will see, at the time we were very concerned with the overall message sent out to the average investor – the video shows a character “Jean” doing a punch of stupid gymnastic moves in a park and ends with her going to the residence of “David” where it implies she physically attacked him.
Now, before you watch the current version, we want you to watch the version we saw for the first time on Nov 6, 2014 (and that was just obtained via a FOI request) – this was AFTER our hearing but before final oral submissions were made on November 21, 2014 in our matter.
On November 21, 2014, we appeared in front of the Panel at the hearing and before we began our arguments we opened with the following:
WHARRAM: Before I begin today I would like your permission to read a brief statement I’d like to make for the record. Can I do that?
THE CHAIR: I don’t know what you’re about to say, so I don’t really have any comment about that, so carry on.
WHARRAM: In the last week I’ve been approached at my residence by nothing short of what I would call a hoodlum. The hoodlum in no certain terms told me they wanted their friend’s money back that I scammed. I have made a police report of the incident with a Constable Nishin (phonetic) of the Chilliwack RCMP and have been issued a police file number. Recently I had an opportunity to watch what the British Columbia Securities Commission in another glamorous press release calls an entertaining video. In the video the main character, the mother of a victim of fraud, attacks an alleged fraudster with physical violence that I will call a vigilante act. The video is a sick, pathetic attempt to make the people of BC aware of securities fraud. This would be equivalent of the Vancouver Police Homicide Department making an entertaining video promoting family members of murder victims to attack an alleged perpetrator. On November 6, 2014 Brenda Leong, the chair of the British Securities Commission, calls the fraud fighter video fun in a speech that she did at the Financial Consumer Agency of Canada’s 2014 national conference. I’m concerned if anything happens to my family or myself, I think this video is — and if anyone hasn’t seen it in this room I encourage you to see it, it is actually sick, made me sick to my stomach when I first seen it. I just want to bring it to the panel’s attention, public’s attention. I think it’s important that people like myself are protected out there. Thank you.”
Source: November 21, 2014 Hearing Transcript
By the time we got back to Chilliwack at about 6 PM that night the video had been scrubbed with a message saying a new version would be available shortly. A few days later, the following video was put up on the BCSC’s YouTube page where it remains today. This is a pathetic waste of money…of time…and shows what the people at the BCSC seem to stand for – encouraging people to take the law into their own hands is NEVER warranted. It is hard to believe that in an office full of lawyers not one of them said, “Hey, I think this is a little much, maybe we shouldn’t have characters taking the law into their own hands and attacking others at their home.”
Here is the revised version that was slapped together and re-posted back onto their YouTube channel:
The overall theme at the BCSC is becoming more and more apparent on a daily basis – and it is time that people in this Province wake up to their actions! Call the BCSC and find out who was responsible for producing this horrible video campaign – you have a right to know!