Concrete Equities

[Masked Bandit]

Has anyone done any investing with these guys? I have some capital that is looking for a home but I don't have any experience with realestate outfits.

Anyone have any GOOD ideas for RRSP type investments other than the good old bank mutual funds?

[The Cosworth]

in this current climate, i would say wait. Oil is overpriced, the TSX is overpriced (30% is canadian energy stock), housing is overprices.

I figure most things are, I would keep the cash somewhere guaranteed until things calm down a bit and the direction we are heading rears its head.



As for concrete equities, to me anything that has to advertise means they arent making enough capital through referrals which means they dont do a good enough job.

[Kritafo]

We have done 3 deals with them, but none of them have finished yet. We did the SNC Lavlin building which we get paid on every 4 months or so. We also bought land with them around Taradale and were just told that should be finished year end.

Just recently did the Luna Morada and I can't remember the other one.

Just don't let David Jone behavior this morning on BT affect your decision to work with them. Oh sorry I forgot that he is on the Wealthstreet side of everything now.

Just don't do any of the RBC crap. We just finished that one...we came out $200.00 a head in the 4 years of putting $600.00/month on that. We got out of the Manulife fund as well, as we were losing money on that one.

We do safe stuff on our own, plus the company RRSP's and stock market.


I don't know who your working with?

[Graham_A_M]

Originally posted by Kritafo
Just don't do any of the RBC crap. We just finished that one...we came out $200.00 a head in the 4 years of putting $600.00/month on that.

:werd: When I was 12, I invested $800 with those guys. Over two years that money sat with them; whereas I made a mind-boggling $2.80 I think it was, in interest. SO worth it.
:thumbsup:

its a good thing somebody asked about these guys. I was about to make a thread about the same thing.

[Kloubek]

Originally posted by Kritafo
We have done 3 deals with them, but none of them have finished yet. We did the SNC Lavlin building which we get paid on every 4 months or so. We also bought land with them around Taradale and were just told that should be finished year end.

Just recently did the Luna Morada and I can't remember the other one.

Just don't let David Jone behavior this morning on BT affect your decision to work with them. Oh sorry I forgot that he is on the Wealthstreet side of everything now.

Just don't do any of the RBC crap. We just finished that one...we came out $200.00 a head in the 4 years of putting $600.00/month on that. We got out of the Manulife fund as well, as we were losing money on that one.

We do safe stuff on our own, plus the company RRSP's and stock market.


I don't know who your working with?

So Kritafo: How is all this panning out for you now?

[FiveFreshFish]

They're in the news for the wrong reasons.

http://www.am770chqr.com/News/Local/Story.aspx?ID=1098700

[Kloubek]

Yeah - I knew that... just wanted to know if she got out in time. But there was no need to dig up an old thread - she already mentioned stuff in the other thread circulating around about CE.

It's all very sad.

[Sugarphreak]

....

[Kritafo]

Originally posted by Kloubek


So Kritafo: How is all this panning out for you now?

We got out of everything but SNC Lavlin before it all went wrong back in Dec. If you read the other thread about the protest I did comment on this.

[ZorroAMG]

They have gone the way of MANY "syndicators" as of late....poor planning, over-extension, over promising..

It's a shame people don't do more homework before asking people for money...

[G]

Update:Finally criminal charges
http://www.calgaryherald.com/business/Criminal+fraud+charges+laid+Concrete+Equities+case/9416889/story.html

CALGARY - Criminal charges have been laid against two men associated with real estate investment firm Concrete Equities Inc., more than two years after the company was found to have violated Alberta securities rules.

Following an investigation by the Calgary RCMP Financial Integrity Unit, David Humeniuk and Varun Aurora have been charged with three counts of fraud over $5,000 and one count of theft over $5,000. It is alleged that between June 4, 2007 and May 13, 2009, the two men provided false information to investors, diverted funds to other business ventures outside the investment agreement, and stole investors’ funds.

Humeniuk — who has been arrested and released to attend Calgary provincial court on Feb. 17, 2014 — has also been charged with an additional theft over $5,000 and one count of money laundering.

A Canada-wide warrant has been issued for the arrest of Aurora, who goes by the first name Vinny.

Concrete Equities raised money from Canadian investors for the purchase of undeveloped beach properties in Senora, Mexico, called the El Golfo de Santa Clara Project. The firm raised nearly $120 million from more than 3,700 investors before going into receivership in 2009.

In 2011, the Alberta Securities Commission ruled against Humeniuk, Aurora, and two other Concrete Equities executives, David Jones and Vincenzo De Palma. An ASC panel found the four had been in breach of multiple Alberta securities law, and levied combined penalties topping $5.6 million.

“Much harm resulted from all of this misconduct,” the ASC panel said at the time in its penalties decision.

[Masked Bandit]

I can't say that's a big surprise. I'm sure glad I put my money elsewhere.

[jdmakkord]

Last I heard Vinny is in either India or England now. Ran off a while ago.

[BigShow]

I really, really like Vinny he's been a friend for a longtime. This whole situation is unfortunate for everyone though, I have sympathy for those that have lost money.

[cam_wmh]

Originally posted by BigShow
I really, really like Vinny he's been a friend for a longtime. This whole situation is unfortunate for everyone though, I have
sympathy for those that have lost money.

Did you invest?

[Marsh]

Originally posted by jdmakkord
Last I heard Vinny is in either India or England now. Ran off a while ago.

He changed his name and is living in India now. Know his brothers, thats the last I've heard.


Originally posted by BigShow
I really, really like Vinny he's been a friend for a longtime. This whole situation is unfortunate for everyone though, I have sympathy for those that have lost money.


I hope thats a joke. Guys a douche for scamming people. Him and banerjee are probably best friends

[roopi]

Originally posted by BigShow
I really, really like Vinny he's been a friend for a longtime. This whole situation is unfortunate for everyone though, I have sympathy for those that have lost money.

Chill guy? :rofl: