Platinum Equities?

[max_boost]

Originally posted by max_boost
Has these real estate deals worked out for anyone??? Just curious.

So many of them promise to double your money in <5 years.

Has anyone invested or know of anyone who has invested that has actually gotten a payout? from any company?

[BananaFob]

Originally posted by max_boost


Has anyone invested or know of anyone who has invested that has actually gotten a payout? from any company?

Yes. But syndications that don't fold up shop and scam in Calgary are few and far between.

[clemmy26]

Originally posted by sputnik
Completely legitimate. They invest in commercial properties.

However you are going to need $100,000 minimum to invest with them.

You don't say.

[Rowdy]

I am part of it. Not all projects were buildings. We were part of of a land deal. The property is the land south of aspen landing and west of Rundle campus. Over 6 million of investors money that cannot be accounted for. Every one of these projects comes back to Stategic in some way. The principle of Strategic being Riaz Mamdani. I was well aware of Riaz before I invested, and from all the info we had, he was in no way related to these investments. If I even had a whiff of him and this investment I never would have gotten involved. Public pressure on the ASC is needed. Laws surrounding LLP's need to be changed to prevent the theft of investors equity.

[hampstor]

Platinum Equities charged by Alberta Securities Commission with misleading investors




CALGARY — On the heels of a public meeting to encourage people to join a class-action lawsuit, the Alberta Securities Commission said Friday it is charging Platinum Equities Inc. with illegally distributing securities.

In a news release, the ASC said it will meet Oct. 10 to set a date for a hearing into allegations that the Calgary real estate investment firm and its principals, Shariff Chandran and Chitra Chandran, illegally distributed securities in a number of its investment vehicles, made prohibited representations in connection with two particular offerings and failed to maintain proper oversight of sales consultants.

The five named limited partnerships raised a total of $58.5 million ($51.7 million from Albertans), it said. One of the five was foreclosed upon by lenders last year but all five have stopped paying distributions.

On Monday, investors who claim to have lost thousands of dollars met to discuss joining a class-action lawsuit filed in June by Calgary law firm McGuigan Nelson LLP.

They claim that Platinum Equities raised about $160 million from about 2,200 people.

“Given the evidence demonstrates that proceeds from various projects were commingled with one another, which was not contemplated in the investment agreements, it makes it impossible to pursue individual investments or claims. This is why we are pursuing a class-action suit, framed in the manner we have,” said lead counsel Kevin McGuigan in a news release.

“We represent hundreds of clients in Alberta, British Columbia and Ontario who have been affected.”

The firm claims that investors lost their life savings, retirement funds and investments in the company which bought and developed properties in Alberta and British Columbia.

“We were misled and the Alberta Securities Commission needs to take action,” said Simon Okkerse, spokesman for the investor group, in the same release.

“The ASC is supposed to protect investors, especially against those who’ve already been convicted for this kind of scam.”

In the notice of hearing, the ASC alleges that securities were illegally distributed through the Deerfoot Court Real Estate Investment Fund Limited Partnership, the Glenmore & Centre Retail LP, Platinum 5 Acres and a Mule LP, PMIC II Investments Ltd. and Qualia Real Estate Investment Fund VI LP.

The ASC said in its notice that the Deerfoot Court offering closed on Nov. 16, 2007, after raising a total of $10.3 million from investors, $9.4 million of whom were Alberta residents, through selling $50,000 units. Distribution of returns to investors ceased during the fourth quarter of 2009.

In December 2011, all of Deerfoot Court’s interests in its sole asset, a three-storey office building in Calgary, were transferred to Strategic Financial Corp. following a court-approved sale. Deerfoot Court LP and Deerfoot Court Investments Ltd. were then placed in bankruptcy.

The ASC further charges that offering memorandums and promotional materials concerning Glenmore & Centre Retail LP and Platinum 5 Acres LP contained misleading or false statements or omitted crucial facts.

It also charges that Platinum salesman Victor Alejandro Galivan Jaro (Alex Galivan) made false statements to investors about the safety and profitability of investments in Deerfoot Court and Qualia, adding he unfairly took advantage of certain investors whose ability to understand the investments was limited due to age or sophistication



Read more: http://www.calgaryherald.com/Platinu...#ixzz26TImTFxN

[Masked Bandit]

Fuggin' greaseballs.

[dawerks]

Slap on the wrist, if that.

Steal a can of pop, you're looking at jail time. Great 'legal' system (almost said justice).

They'll just go ahead and do it to someone else.

[kobe tai]

Fuken gay. Someone should just do society a favor and off them.

[Maxt]

Looks super duper trustworthy to me.

Lots of good reading if you google that guy.

[rx7_turbo2]

I remember reading this thread back in the day http://forums.beyond.ca/showthread.php?threadid=147796

Dave Jones used to show up on Breakfast Television all the time, after seeing him on television I couldn't believe anyone would let him near their money.

[Hallowed_point]

Originally posted by Maxt

Looks super duper trustworthy to me.

Lots of good reading if you google that guy.

Looks like a crook in an International Clothiers suit

[hempful]

Original Post Removed. (Please read the Forum Rules and Terms of Use before posting again, or risk getting banned).

[Isaiah]

Chandran's Twitter:

Shariff Chandran
@Shariff99
Started from the bottom, built it up, lost it all and now in my resurrection phase. Addicted to real estate deals, new ventures in any industry.
CANADA · http://twitter.com/shariff99

[hempful]

Originally posted by Isaiah
Chandran's Twitter:

Do you realize how many lives you have ruined by screwing people, (especially elderly people who have worked hard all their lives), in this massive scam?

Can you repay them with good health and their money back?

[hempful]

Original Post Removed. (Please read the Forum Rules and Terms of Use before posting again, or risk getting banned).

[ZenOps]

So he is basically a black version of Donald Trump. I don't really see the problem.

[hempful]

Originally posted by Isaiah
Chandran's Twitter:

We would never hire you nor your sister, Chitra Chandran to work for our companies!

[hempful]

Original Post Removed. (Please read the Forum Rules and Terms of Use before posting again, or risk getting banned).

[M.alex]

Originally posted by hempful

He needs to get some jail time. He may have millions but he has screwed with the laws of Alberta.

Pssst, this is Canada, not the US. Dick all will happen, other than a slap on the wrist saying 'you can't deal with public monies anymore'.

[hempful]

Original Post Removed. (Please read the Forum Rules and Terms of Use before posting again, or risk getting banned).