Focused Money Solutions Inc - SCAM?

[djayz]

First off a little background on the company.
They buy life insurance policies from people/companies and then wait for a payout. They stated a 11% return annually as well as a chunk of the money upon the sale of any policies.

Their website is down, you can't get through by phone, so I have emailed them so will update as we go.

Anyways the reason for the post...
I just received an email from these guys stating that they are suspending their dividends until further notice (they say they will inform everyone by may 30th on the situation)

The reason behind the suspension is that one of their policies in the states isn't paying out and in order to continue paying premiums on their other policies they need the money.

I've been in this for exactly one year (Subscribed april 1st, 2009)

The reasoning could be completely legit but the fact that the website is down and you can't contact anyone just screams ponzi!

So if anyone else is involved in this please post here with your findings/updates and hopefully we can get everyone's money back.

From what I recall reading these guys took in 47 or so million so there must be a huge amount of people involved in this.

EDIT: Just made a facebook group, hopefully this can attract some more people that are involved into this and we can dig up more information and see whats going on.

Click HERE (http://www.facebook.com/group.php?gid=124558637556617#!/group.php?gid=124558637556617&v=wall)

[TYMSMNY]

- Their website is down, you can't get through by phone (scam)

- suspending their dividends until further notice after 1 year (scam)

Probably won't see your money back unfortunately. That's why you don't buy through private parties or through your "friends". Hope it works out for you though.

[djayz]

K well I just called and the receptionist picked up.

I acted as though I was a new investor and that I had heard about them via a radio ad. The lady sounded stumped/scared and asked when I had heard this and told me that they were not accepting any new investments at the time.

Still awaiting an email reply.

It's weird how I can't find any threads/forums anywhere about this company, all I can find is the ASC news as follows:

http://www.investmentexecutive.com/client/en/News/DetailNews.asp?Id=52560&IdSection=8&cat=8

[djayz]

Here is the email I received. Still haven't received anything in the mail which isn't very good as this is a pretty big issue and all they do is send an email.


Focused Money Solutions Inc.
Suite 410, 800 – 6th Ave S.W.
Calgary, AB T2P 3G3

April 1, 2010

Dear Investor,

RE: FOCUSED MONEY SOLUTIONS INC. (FMSI) – DEBENTURE HOLDERS

Due to circumstances beyond our control, we will be temporarily discontinuing payments to debenture until FMSI can realize significant return on a profitable sale of assets.

We have been informed that one of our service providers in the United States, who was delaying the return of premiums amounts it holds in trust, and the transfer of certain polices held on behalf of FMSI, has gone into receivership. We are in the process of making a legal claim for amounts owed to the LP.

We are continuing to maintain the premium payments on the life insurance policies held on behalf of FMSI as failure to maintain those premiums would result in the cancellation of the policies, creating a terminal loss on the investment.

Additionally, we have retained a law firm in the United States to commence an action against the service provider for the full recovery of the Partnership’s funds and policies. We are working hard to preserve and enhance life insurance assets of the company by way of debt financing and brokering of policies for profit.

In the short term, some of the life settlement assets will be sold to provide the necessary capital to make premium payments, while at the same time trading in policies has being implemented to generate income for the company. The company believes that by trading in policies it will be able to offset any potential losses that may occur with the service provider, now or in the future, and provide for a positive return for unit holders.

We will resume payments in the near future once we are in a profitable position.

Without minimizing the seriousness of this situation, the company expects to maintain its original objective and generate a positive return to investors.

We will keep you informed as to our progress in these matters by way of a follow-up no later than May 30, 2010. If you have any questions or concerns with respect to this issue, please email us at [email protected].

Yours Truly,



Victor Delaet
President FMSI

[S4maniac]

there's been a cease trade on the company since February. I'd say getting dividends is the least of your worries.

[Canmorite]

Shitty situation. I talked to the sales guys last year and it sounded ridiculous what they were doing. They had slick answers to everything instead of detailed explanations.

[HondaKid]

Even the name is a SCAM alert.

[Dilmah]

Have you tried "Focused Money Solutions Inc scam" in google?

[Mx6er]

Good luck getting your money back...

http://www.albertasecurities.com/news/Lists/ASC%20News/DispForm.aspx?ID=763


ASC Extends Cease Trade Order Against Focused Money Solutions Inc. and Victor George DeLaet
Feb 23 2010

The Alberta Securities Commission (ASC) has further extended an Interim Cease Trade Order (ICTO) issued against Focused Money Solutions Inc. and Victor George DeLaet. The ICTO is based on allegations that Focused Money Solutions and DeLaet have made untrue or misleading statements to investors.

The ICTO prohibits all trading in Focused Money Solutions securities and prohibits Focused Money Solutions and DeLaet from trading in securities or relying on Alberta securities laws exemptions.

The ICTO will remain in effect until Focused Money Solutions and DeLaet provide additional information to the ASC panel. At that time, the ASC panel will make a further determination concerning whether it is in the public interest to extend the ICTO.

Copies of the ICTO and Notice of Hearing in this case can be found on the ASC website at www.albertasecurities.com.

The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.

- 30 -

For further information please contact:

For Media Inquiries: Tamera Van Brunt
Director, Communications & Investor Education
403.297.2664

For Investor Inquiries: ASC Public Inquiries
Toll Free 1.877.355.4488

[e-type 4 me]

FMSI announced there intentions to relocate the business to Luxembourg. The reasons are stated as to avoid harrassment from ASC. There is a lawsuit being considered against FMSI. If anyone has interest in being part of a class action to try to recoup their investment please contact me.

[Darius]

Hi there, my wife and I have $100K invested in Focused Money so we are a little concerned. Make that really concerned.

Anyway, I have spoken to my financial advisor, ASC, Focused Money, and a lawyer and here is my 2 cents.

It is not a ponzi scheme, I am pretty sure, and Focused Money still has something like $44M in life insurance policies. Victor is good pals with my advisor, who, incidentally, has a lot of money personally invested in FM. My advisor says that Victor has been very honest and transparent since day 1, and that there were warning signs of what was happening in the States as early as January that he let his colleagues know about. Anyway, my advisor couldn't promise anything but said that he is very optimistic that things might be cleared up before June 1st and that the dividends might roll in as early as May. But, either way, he figures that we will know if things are getting better or worse by mid-May. He also mentioned that Victor is thinking of brokering off his life insurance policies to simply reimburse all of us LP's and just be done with it, in essence reimbursing us before the 5-year term is done. He seemed very confident and because he has personally invested lots with FL, and has many clients who have, I almost have to believe him.

But having said all of that, I have spoken to two lawyers, one of which wants to see me next week. I have copies of our agreements and our OM (offering memorandums) in hand, along with a lot of correspondence from Summer and Victor at FL. So, I am not sure what to do right now, but I may seek counsel early next week for some advice.

Oh, and about the website, FL said to me it was down because they wanted to ensure it had nothing on it that ASC could come after, and that they should have a new site up by May 1st.

So, let me know what you think, and I would definitely be interested in going in on a lawyer to try to get my money back now. I am too nervous.

[broken_legs]

Originally posted by Darius
Hi there, my wife and I have $100K invested in Focused Money so we are a little concerned. Make that really concerned.

Anyway, I have spoken to my financial advisor, ASC, Focused Money, and a lawyer and here is my 2 cents.

It is not a ponzi scheme, I am pretty sure, and Focused Money still has something like $44M in life insurance policies. Victor is good pals with my advisor, who, incidentally, has a lot of money personally invested in FM. My advisor says that Victor has been very honest and transparent since day 1, and that there were warning signs of what was happening in the States as early as January that he let his colleagues know about. Anyway, my advisor couldn't promise anything but said that he is very optimistic that things might be cleared up before June 1st and that the dividends might roll in as early as May. But, either way, he figures that we will know if things are getting better or worse by mid-May. He also mentioned that Victor is thinking of brokering off his life insurance policies to simply reimburse all of us LP's and just be done with it, in essence reimbursing us before the 5-year term is done. He seemed very confident and because he has personally invested lots with FL, and has many clients who have, I almost have to believe him.

But having said all of that, I have spoken to two lawyers, one of which wants to see me next week. I have copies of our agreements and our OM (offering memorandums) in hand, along with a lot of correspondence from Summer and Victor at FL. So, I am not sure what to do right now, but I may seek counsel early next week for some advice.

Oh, and about the website, FL said to me it was down because they wanted to ensure it had nothing on it that ASC could come after, and that they should have a new site up by May 1st.

So, let me know what you think, and I would definitely be interested in going in on a lawyer to try to get my money back now. I am too nervous.


Trust me...... It's all good. Hes a good guy just wait until June and all will be forgiven. It's really the ASC that's the bad guy here...

June:

He's a really good guy, he's been upfront about everything. The money is coming from the US in september for sure. Trust me. I have lots of money with him. Just wait a couple more months with that law suit.


September:

The ASC keeps screwing him over. Thats why he's left the country and started operations in Luxembourg. Don't worry, hold off on that lawsuit just another couple of months. He's a good guy. You're money is going to come through in January for sure.


January:

Victor who?

[TYMSMNY]

"Trust me"
"ASC keeps screwing him over"
"He's a good guy"
"Moving to Luxembourg"

Say bye bye.

Darius, when you "advisor" found out, did he let you know as well?

[broken_legs]

Originally posted by TYMSMNY

Darius, when you "advisor" found out, did he let you know as well?

Exactly!

[gqmw]

Originally posted by broken_legs


Exactly!

The name itself seems like a big scam. And whoever posted how nervous they are - you are way too trusting. I'm going to say now that you guys are most likely not going to get anything back. Although that being said, I hope I'm wrong about this for the sake of you guys.

[broken_legs]

immediate and forceful legal action is necessary at the first hint of a problem like this.

These scams always end with only a portion of the money returned, or the first people claiming getting paid back.

[Blue Eyes]

Hi,
You may call me a dreamer. . . you all can finish that line.

Just found you all and I have 120K invested Class B LP Units with FMSI.
I have seen the new FMSI website and am keeping everything I can cross crossed.

I have to believe this will all work out. I generally do pretty decent due diligence before making an investment. Everything seemed to check out.

It didn't, and still doesn't, sound too good to be true. The returns promised weren't anywhere near what Madoff or some of the ponzi schemes out there promised.

I make between 8 and 12% on all my other investments. It's not hard to find a low risk investment that will give you back that amount. Better than the stock market, that's for sure. I don't want a broker buying and selling in order to bump his/her commissions and, just because a company trades on a stock exchange doesn't mean it can't have money troubles.
Do you want to settle for the 1 to 3% you get on a CD? Not me thank you.

My advisor is getting a list of all the policies that FMSI has purchased as well as what the premiums/payouts are and who the polices are with.

There is a reinsurance bond on the investment so that should offer some comfort.

Does anyone know what specifically triggered the ASC investigation. I heard it was about making false claims. I have only been into FMSI since Jan 09 and have had no complaints about the monthly payments (until now) from then to the end of March. Showed up like clockwork.

This could just be a cashflow problem. If the US company in recievership goes broke (I wonder who it is?) then FMSI is going to need cash to cover the premiums on the other policies. If selling a few policies to secondary investors works then things should smooth out and cash will start flowing again.

I'm not as ready as some of you to set fire to this investment. Mr DeLaet's profile seems legit and my Advisor speaks with him on a regular basis he says so even though its almost 1AM and I am obsessing about this, I am going to try to not lose too much sleep.

What kind of forceful legal action do you have in mind? The company has relocated to Luxumburg. We would have to spend the investment and then some to get anything. What do you suggest? Forcing FMSI into bankruptcy and getting .02 on the dollar? The key is to not panic. Take a look at the options. Keep pressing for information from FMSI and your financial advisior.
I would consider a class action if the situation isn't resolved in a few months but not before that.

Any feedback is appreciated

Nushi

[broken_legs]

Originally posted by Blue Eyes
Hi,
You may call me a dreamer. . . you all can finish that line.
blah blah blah blah Trust me ;)
blah blah blah blah Trust the copany ;)
blah blah blah blah Madoff only promised 10% but im claiming 12% is normal
blah blah blah blah Trust the guys who runs the company ;)
blah blah blah blah Dont take any legal action, that wont work

Any feedback is appreciated

Nushi


Do you work for FMSI?

You posted so late at night in Calgary... It's got to be, what, 10:30am in Luxembourg right now? Not to mention this is your one and only post on Beyond.

:rolleyes:

So when you say something like this:


This could just be a cashflow problem. If the US company in recievership goes broke (I wonder who it is?) then FMSI is going to need cash to cover the premiums on the other policies. If selling a few policies to secondary investors works then things should smooth out and cash will start flowing again.


You're describing a ponzi scheme are you not?



What do you suggest? Forcing FMSI into bankruptcy and getting .02 on the dollar?


Or getting out of your contract and getting paid out *BEFORE* they go into bankruptcy and all that's left is 0.02c on the dollar.

I stand by my original statement

[ihopenot]

As my name suggests, I hope the Ponzi scheme is not true, and I really dont think it is. I was introduced to this by an advisor who has put me into a couple of other things that have worked out well (money out plus interest).
In addition to the prvious emails, we received another one today in an attempt to explain what is going on. I have confirmed that the "perfect storm" of 2008 is in fact talked about by the Life Settlement industry, some of the life expectancy methodologies have in fact changed.
So, it could be a scam, or in fact they are going through what other Life Settlement companies have gone through. Now that the credit markets are opening up, hopefully they will be able to finance the premiums and keep the policies going until the death benefits are realized.
Time will tell what is the truth, but suing now is not the answer (and I dont work for FMSI). Best of luck to everyone



"The General Partner has been attempting to liquidate the portfolio at a reasonable price level and so far all we have received are very low offers on the portfolio.

In response to numerous inquiries and concerns from Partners, I would like to draw your attention to the current market conditions concerning the resale of Life Settlement portfolios.
Some experts call 2008 the year of the “Perfect Storm” for the Life Settlements industry. When you take the challenges of the financial turmoil that hit the second half of 2008, concerns arose over insurer solvency. Then numerous Life Expectancy companies like 21 Services, and AVS have arbitrarily increased their life expectancies by 30%. A 30% extension in life expectancies translates into a 50% decrease in portfolio value if the partnership were to sell the portfolio at this time. This increase in life expectancy is viewed by the industry as being very conservative and in a lot of cases approaches the normal mortality of lives in the US without any adjustments for existing medical conditions. As underwriter methodologies changed in 2009, the industry began to feel the pain of the reduced demand by investors and insured’s. In addition tax laws changed in 2009 under IRS-2009-13, and IRS-2009-14, making the proceeds of Life Settlement policies taxable thereby further reducing their value.
This has sent many life settlement companies into survival mode maintaining their existing portfolios purchased prior to 2009 and have caused many to liquidate these portfolios. Many companies holding portfolios of life settlements were net sellers of life settlements policies. Only recently have some hedge funds started to buy life settlement policies. Currently it is a buyer’s market and not a seller’s market for life settlements.
The LP was structured to wait for a death benefit on the portfolio but as of this date, no death benefits have been realized. As long as premiums are paid, the death benefits will eventually be realized and Partners capital released.
At this point, the General Partner feels that there are only two options available:
1. Liquidate some or all of the portfolio for approximately 1/4 of its purchase price; or,
2. Obtain premium financing to finance the portfolio until death benefits can be realized.
The General Partner is actively seeking out premium financing solutions to ensure the portfolio of $42,000,000 in face value is held to maturity. We have 3 companies that we are negotiating with currently and should have an answer in the coming weeks.

In planning and managing the current assets of life settlements, the General Partner is seeking feedback from the Partners as to which of the two options would be preferable to the investors in the LP Units. This feedback will not bind the General Partner or the Limited Partners in any way; however, it will provide the General Partner with information as to the direction the Partnership should take.
Please indicate your choice by checking off one of the following and return by mail, fax or email, no later than May 7, 2010.
1. Liquidate 100% of the portfolio _____
2. Maintain existing portfolio using premium financing ____
3. Indicate other suggestions, in writing, below.
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________

[broken_legs]

Sean is that you?

[Blue Eyes]

Dear Broken Legs,

No I don't work for FMSI. If wish I did so I could get a look at the list of policies held on behalf of the investors. I want to see the list of policies held as investments. I'm sure FMSI has someone watching this forum. They would be idiots to have missed it.

I would love to have a chat with the CFO to find out how they got themselves in this mess. Why didn't they have a contingency fund that could cover a situation like this. One should never invest all your money. Always keep cash in had in case of emergencies.

I'm a 53 year old internet entrepeneur and I live in Victoria BC. I invested 120K of my retirement money in FMSI because I lost about 225K in the tech meltdown and wanted to stay away from the stock market. Most of my funds are in REIT's and mortgages. When I get my capital back from FMSI, and I am going to continue assuming I will despite your point of view, I am going to put it back into something based on real estate. If I am wrong, you may gloat as much as you like.

I have been lurking for a while, debating making a post. Does one have to have made multiple posts in order to put forth an alternate argument on an issue. I post late in the evening (or early in the morning here - just past 1AM) because of people who make posts such as yours. I get the feeling that you would like nothing more than to be right.

No I don't think it's a ponzi scheme when the company is actually buying and selling something. In this case, that would be the life insurance policies.

If FMSI has purchased life insurance policies, and I am going to assume they actually did, then had one of the companies it deals with go into receivership and not released the promised funds then FMSI would still have the obligation to pay the premiums on the other life insurance policies in order to keep them active until the policy paid out. If they had counted on the money frozen by the recievership and not had a large enough contingency fund for situations such as this, they would be forced to re-sell some of the policies in order to get some cash flow and pay the premiums. The management team of FMSI has a lot to answer for.

Companies sell assets all the time when cash is tight. My understanding of a ponzi scheme is that the crook will get some investor's money by saying they will buy this or that investment product but the crook never buys it. He/she just keeps getting new investores and uses their money to pay the original investors. It works until you can't get any more new investors

Madoff and his ilk had promised returns of over 20% per annum.

Get out of the contract? Have you read the contract? It states that the investor acknowledges there is a risk of losing everything. I read it and I still signed it. It, like any investment, was a calculated risk. I can't claim I was scammed because the onus was on me to read the contract and decide if I wanted to sign it or not. I don't believe I was misled as to the nature of the investment. Until the freeze, the investment has performed as promised.

I feel that ff the investors force FMSI to liquidate it's assets, it might not be at a profit. If they choose to wait a bit for the company to straighten itself out, there is a good chance we will get our capital back

Why invest then? Simple. . .I thought, and still do, that I am smart enough to spot a decent investment with a good risk to return ratio. I mulled this one over for months because of the morbid nature of it. I was uncomfortable making money from death. In the end, death and taxes are the only things you can count on. The re-insurance part of the plan may have been percieved as unwarranted reassurance that my capital was going to be safe. It may well still be safe. I, like all the other investors will just have to wait until the end of May to see.

Bye for now
Nushi Blue Eyes

[broken_legs]

Like clock work.... 10:00am in Luxembourg.

[djayz]

For all of you outside posters that have never posted on beyond before and that are invested in FMSI.

When did you invest into this and what made you invest as much as you did?

Also seeing as how the units were 25k a piece how is it that you have 120k invested?

Another question, has anybody recieved any type of response from FMSI since the news was released?

I have sent several emails but have had no replies. The only contact was described in my original post where by they picked up and said that they are not accepting any new investments.

If anything they should be welcoming new money to grow their portfolio so that if anything like this happens in the future it won't affect them as much.

Having one policy go into receivership and ruining the entire distribution for all their investors sounds like bad business to me.

[Blue Eyes]

Hi djayz,

I went to a David Michaels investment seminar. He is on the radio here. There were about 20-25 people here. I wanted to try something different.

I have only recieved two letters from FMSI but I have also recieved two video links from David Michaels

here is a link to the first
http://www.tokbox.com/vm/bxky9ntgj8x7

and here is the link to the second
http://www.tokbox.com/vm/uthwo5vff2mp

Take a look for yourself

and to you broken legs. . . .nothing I can say or do is going to convince you that I'm not with FMSI so I'm just going to regard all your comments as spam from now on.


Nushi Blue Eyes

[sputnik]

Originally posted by djayz
First off a little background on the company.
They buy life insurance policies from people/companies and then wait for a payout. They stated a 11% return annually as well as a chunk of the money upon the sale of any policies.

How did this not raise red flags to being with?

[TYMSMNY]

^ several companies do that so it's not something of concern. What is concerning is several statements back where there were signs of a crumbling "business".

Life Insurance is good money, guaranteed the person will pass away and the company takes the payout. Only thing is they need to buy these policies out from the beneficiary upfront.

[Blue Eyes]

Hi,

As you were wondering how I could invest 120K, I don't know the particulars but I have attached (hopefully) a scan of the first page of my subsription agreement. I have obsured some of the details to protect my privacy.

Nushi Blue Eyes

[TomcoPDR]

We need to send Banerjee in there to "invest" his millions, write them a Banercheque.

[djayz]

Originally posted by Blue Eyes
Hi,

As you were wondering how I could invest 120K, I don't know the particulars but I have attached (hopefully) a scan of the first page of my subsription agreement. I have obsured some of the details to protect my privacy.

Nushi Blue Eyes

Did you get any warrants with your purchase?


Also here is the email that I received from them, ihopenot already posted this on the first page but here is the full thing:


RE: FOCUSED MONEY SOLUTIONS – DEBENTURE UNIT HOLDERS,
& FOCUSED MONEY CAPITALBOND HOLDERS.

FMSI has been attempting to liquidate the portfolio at a reasonable price level and so far all we have received are very low offers on the portfolio.

In response to numerous inquiries and concerns from Bond/Debenture Holders, I would like to draw your attention to the current market conditions concerning the resale of Life Settlement portfolios.
Some experts call 2008 the year of the “Perfect Storm” for the Life Settlements industry. When you take the challenges of the financial turmoil that hit the second half of 2008, concerns arose over insurer solvency. Then numerous Life Expectancy companies like 21 Services, and AVS have arbitrarily increased their life expectancies by 30%. A 30% extension in life expectancies translates into a 50% decrease in portfolio value if the FMSI were to sell the portfolio at this time. This increase in life expectancy is viewed by the industry as being very conservative and in a lot of cases approaches the normal mortality of lives in the US. As underwriter methodologies changed in 2009, the industry began to feel the pain of the reduced demand by investors and insured’s. In addition tax laws changed in 2009 under IRS-2009-13, and IRS-2009-14, making the proceeds of Life Settlement policies taxable thereby further reducing their value.
This has sent many life settlement companies into survival mode maintaining their existing portfolios purchased prior to 2009 and have caused many to liquidate these portfolios. Many companies holding portfolios of life settlements were net sellers of life settlements policies. Only recently have some hedge funds started to buy life settlement policies. Currently it is a buyer’s market and not a seller’s market for life settlements.
The Bond /Debenture investment was structured to finance the building of a portfolio for resale but as of this date, no death benefits have been realized nor is the prospects of a reasonable offer on the existing portfolio near term. As long as premiums are paid, the death benefits will eventually be realized and Investors capital released.
At this point, FMSI feels that there are only two options available:
1. Liquidate some or all of the portfolio for approximately 1/4 of its purchase price; or,
2. Obtain premium financing to finance the portfolio until death benefits can be realized.
The FMSI is actively seeking out premium financing solutions to ensure the portfolio of $15,000,000 in face value is held to maturity. We have 3 companies that we are negotiating with currently and should have an answer in the coming weeks.
In planning and managing the current assets of life settlements, FMSI is seeking feedback from the bond/debenture holders as to which of the two options would be preferable to the investors in the Debenture Units. This feedback will not bind the Bond/ Debenture Unit holders or FMSI in any way; however, it will provide FMSI with information as to the direction the FMSI should take.




Please indicate your choice by checking off one of the following and return by mail, fax or email, no later than May 7, 2010.
1. Liquidate 100% of the portfolio _____
2. Maintain existing portfolio using premium financing ____
3. Indicate other suggestions, in writing, below.
__________________________________________________________________
__________________________________________________________________
__________________________________________________________________

Fax to 403-206-7817, email: [email protected], or mail to #410, 800 – 6th Ave SW, Calgary Alberta, T2P 3G3


In closing, the FMSI would like to point out that none of the assets of the FMSI will, at any time, be moved to Luxemburg. With the reorganization that Focused Money has gone through recently, the Luxemburg operation will be separate and apart from the Canadian operation and the Limited Partnership.

Yours Truly



Victor DeLaet, President

FOCUSED MONEY SOLUTIONS INC


The email was sent out by Summer Abney (Administrative Assistant)

[Blue Eyes]

No warrants that I know of and I have never recieved that email.
Now my weekend is completely shot :(

[Blue Eyes]

Hi Djayz,

I think, if given the choice, I would go for option 2. The loan payments would come from the benefits of the policy when it matures. Again, the investors would need to see a list of policies, their terms - all the details.

But. . . before committing to option 2 I would like to know:

What would be the loan interest rate?

What would be the loan commitment fee?

How much return must the policy produce over the loan interest rate?

For what length of time is the loan renewable? Is it just until the company that is in recievership releases the funds held in trust or is it for the entire term of the remaining policies?

Is collateral beyond the insurance policy required?

Which life insurance policy is best suited for a premium financing agreement? One or all still held?

What is the program based on – life expectancy or conventional coverage?


Bye for now

[Blue Eyes]

Does anyone think that we could sell our investment (at a loss of course) to another investor who is willing to take the risk?

Blue Eyes

[Darius]

So, I saw my lawyer, and like others have indicated the only realistic thing a LP like me can do is to glom on to a class action lawsuit, which would more than likely result in a terminal loss on all assets (in this case, life insurance policies).

But, what my lawyer was interested in was my financial advisor, and her company, CDS Consulting. My lawyer is pretty sure that even if my total investment is lost, I can sue my financial advisor, who is more than likely insured with "errors and ommission" insurance. This investment was "sold" to me as conservative and guaranteed. Obviously, that is not the case. At any rate, my lawyer is fairly certain I could sue my FA and her firm and get a pretty heft settlement...but the statue of limitations on such actions in SK is two years...and that will be two years from April 1/10. But we should know what happens with our money well before April 1, 2012. What's nice is that I have a smoking gun email from my FA admitting to misleading me about the investment.

I have not seen the latest letter from Victor (listed above), pertaining to the two options. I am upset that I wasn't included on that list. That makes me angry. But yeah, I would probably opt for option 2, although to get $25-40K back on my 100K investment may not be the worst option. Then I can sue my advisor for the remainder.

Here's hoping that Victor can get some financing in place from one of those three options....

[Blue Eyes]

Darius,

Did you sign a risk agreement? The one I signed stated that I could lose part or all of my investment.

Blue Eyes

[djayz]

Those of you that invested through a FA, did you guys get a share certificate or any other documents saying that you are the one subscribed to the investment.

You should have a certificate number for the debentures you are holding.

Another question, if you do have the supporting documents to say that you are subscribed, what does it say your maturity date for the investment is?

I just looked over mine and noticed that it says March, 27, 2029...
I remember him saying something about this but don't recall what it was. But what I do recall is that it was a 3 year term.
Any of you guys receive any other info on the maturity dates?

EDIT: Just made a facebook group, hopefully this can attract some more people that are involved into this and we can dig up more information and see whats going on.

Click HERE (http://www.facebook.com/group.php?gid=124558637556617#!/group.php?gid=124558637556617&v=wall)

[Blue Eyes]

I don't have a certificate

Blue Eyes

[remarkable]

I really wonder how much intelligence is going into this process..? Posting private company letters with sensative material in them? Ever heard of big business you guys? There are reasons that information comes with non disclosure agreements and such.

I also think that is a really dumb idea, going after a company with lawyers(costs money) when they are having cashflow issues(have no money) and especially without really having checked things out. It is not blind faith, go down and have a look... want to see your policies? Go to the office and ask politely? Ever thought of getting outside of your head on this one? It doesn't sound like there is ANY EVIDENCE of a "ponsi" scheme.. knowing that there is an asset, why the hell would you go and force a struggling company to liquidate its only asset at .25 of its value(according to the private details I was able to read all about your investment firms finances thanks to some idiot who thought it was a great idea to share private company info with the world) which would translate into an even smaller return than that for you as investors... also it should tell the other people something about people like 'broken legs' and 'djayz' when they would encourage you to take the company down and just get whatever pittance you can because you would be first in line with your lawsuit..! What kind of thinking is this..?
I will have more to say, don't worry!

[vrotob]

EANS-News: Focused Money Solutions Inc., a Life Settlement Company Commences Trading
21.08.2009 | 07:01 Uhr
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Company Information/Corporate Profiles/Financing, Stock Offerings (IPO)/Commences trading FMSI Life Settlements
Calgary, Canada (euro adhoc) - FMSI, a Calgary based financial
services company successfully obtained listing on the Frankfurt Stock
Exchange in Germany. Trading commenced on Aug 12/09 under the symbol
1FS.F FMSI is currently offering common shares to accredited
investors at $3.00 CAN per share. FMSI is expanding its
operations into the European market intent on attracting
institutional investors via a new Life Settlement bond offering.
Currently Canadian retail investors are offered corporate debentures
for the purposes of investing in US Life Settlement assets. Life
Settlements are a unique investment asset and growing rapidly in the
US. FMSI's business is to buy Life Settlements directly through
various channels for the purposes of securing the new LS bond
offering.
end of announcement euro adhoc

--------------------------------------------------------------------------------
ots Originaltext: Focused Money Solutions Inc.
Im Internet recherchierbar: http://www.presseportal.ch
Further inquiry note:
visit the company's website at www.focusedmoney.ca; Contact Information: Victor
DeLaet, CEO/President, (403) 229-4420, vic(at)focusedmoney.ca
Branche: Financial & Business Services
ISIN: CA34417A1030
WKN: A0X9Y1
Börsen: Frankfurt / Open Market




19.04.2010 13:20

Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Focused Money Solutions SA, a Life Settlement Company

Focused Money Solutions SA a Luxembourg company, through its Canadian
operation has successfully raised $11.5 M CDN as of Dec 31, 2009. The
company has begun acquiring life settlement policies to assemble portfolios
for resale.

Focused Money Solutions SA is currently listed on the Deutsche Bourse
Frankfurt Stock Exchange under the symbol 1FS.F, ISIN#CA34417A1030.

Focused Money Solutions SA is expanding its operations into the European
market to offer quality life settlement portfolios to various European
buyers.

A life settlement investment is a unique asset class and is rapidly growing
in the United States and throughout the world. Investments in life
settlements are not correlated to other markets and offer investors
diversification on their investments.

About the Company:

Focused Money Solutions Sa is in the business to acquire Life Settlements
policies directly through various US channels and assemble portfolios for
resale to numerous private and institutional buyers in the US and in
Europe.

The company's management has over 22 yrs experience in the financial
services industry and has been in the life settlement market place for the
last 4 yrs.

For more information visit the company's new website at www. 1fs.lu

Contact Information:
Victor DeLaet, CEO/President
800-2-5896 (Europe)
866-472-3761 (Canada)




FOCUSED MONEY SOL
( Frankfurt: 1FS.F / ISIN CA34417A1030 )
Last Trade: 0.043 €
Trade Time: 1 Jan
Change: 0.00 (0.00%)
Prev Close: 0.043
Open: N/A
Bid: N/A
Ask: N/A
1y Target Est: N/A
Day's Range: N/A - N/A
52wk Range: 0.001 - 2.39
Volume: 0
Avg Vol (3m): 4,453.24
Market Cap: 497.73K
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A


PRICES

Date Open High Low Close Avg Vol Adj Close*
19-Jul-10 0.45 0.45 0.04 0.04 6,700 0.04
12-Jul-10 0.50 0.50 0.45 0.45 0 0.45
5-Jul-10 0.70 0.70 0.56 0.56 0 0.56
28-Jun-10 0.85 0.85 0.75 0.75 0 0.75
21-Jun-10 0.90 0.90 0.85 0.85 0 0.85
14-Jun-10 0.99 0.99 0.90 0.90 0 0.90
7-Jun-10 1.00 1.00 1.00 1.00 0 1.00
31-May-10 1.20 1.20 1.00 1.00 0 1.00
24-May-10 1.50 1.50 1.30 1.30 0 1.30
17-May-10 2.05 2.05 1.60 1.60 200 1.60
10-May-10 2.13 2.13 2.00 2.12 2,900 2.12
3-May-10 2.39 2.39 2.00 2.13 25,900 2.13
26-Apr-10 1.81 2.14 1.15 2.14 17,500 2.14
19-Apr-10 1.50 1.82 1.50 1.81 10,500 1.81
12-Apr-10 1.50 1.50 1.50 1.50 800 1.50
5-Apr-10 2.00 2.00 1.50 1.50 0 1.50
29-Mar-10 2.00 2.00 2.00 2.00 0 2.00
22-Mar-10 2.00 2.20 2.00 2.00 0 2.00
15-Mar-10 2.00 2.00 2.00 2.00 0 2.00
8-Mar-10 2.00 2.00 2.00 2.00 0 2.00
1-Mar-10 0.00 2.00 0.00 2.00 0 2.00
22-Feb-10 2.00 2.00 2.00 2.00 0 2.00
15-Feb-10 2.00 2.00 2.00 2.00 0 2.00
8-Feb-10 2.00 2.00 2.00 2.00 0 2.00
1-Feb-10 2.00 2.00 2.00 2.00 0 2.00
25-Jan-10 2.00 2.00 2.00 2.00 0 2.00
18-Jan-10 2.00 2.00 2.00 2.00 200 2.00
11-Jan-10 2.00 2.00 2.00 2.00 0 2.00
4-Jan-10 2.00 2.00 2.00 2.00 0 2.00
28-Dec-09 2.00 2.00 2.00 2.00 0 2.00
21-Dec-09 2.00 2.00 2.00 2.00 0 2.00
14-Dec-09 2.00 2.00 2.00 2.00 200 2.00
7-Dec-09 2.00 2.00 2.00 2.00 0 2.00
30-Nov-09 2.00 2.00 2.00 2.00 0 2.00
23-Nov-09 2.00 2.00 2.00 2.00 0 2.00
16-Nov-09 2.00 2.00 2.00 2.00 0 2.00
9-Nov-09 2.00 2.00 2.00 2.00 0 2.00
2-Nov-09 2.00 2.00 2.00 2.00 0 2.00
26-Oct-09 2.00 2.00 2.00 2.00 0 2.00
19-Oct-09 2.00 2.00 2.00 2.00 0 2.00
12-Oct-09 2.00 2.00 2.00 2.00 0 2.00
5-Oct-09 2.00 2.00 2.00 2.00 0 2.00
28-Sep-09 2.00 2.00 2.00 2.00 0 2.00
21-Sep-09 2.00 2.00 2.00 2.00 0 2.00
14-Sep-09 2.00 2.00 2.00 2.00 0 2.00
7-Sep-09 2.00 2.00 2.00 2.00 0 2.00
31-Aug-09 2.00 2.00 2.00 2.00 0 2.00
24-Aug-09 2.00 2.00 2.00 2.00 0 2.00
17-Aug-09 2.00 2.00 2.00 2.00 0 2.00
12-Aug-09 2.00 2.00 2.00 2.00 0 2.00

[djayz]

Originally posted by remarkable
I really wonder how much intelligence is going into this process..? Posting private company letters with sensative material in them? Ever heard of big business you guys? There are reasons that information comes with non disclosure agreements and such.

I also think that is a really dumb idea, going after a company with lawyers(costs money) when they are having cashflow issues(have no money) and especially without really having checked things out. It is not blind faith, go down and have a look... want to see your policies? Go to the office and ask politely? Ever thought of getting outside of your head on this one? It doesn't sound like there is ANY EVIDENCE of a "ponsi" scheme.. knowing that there is an asset, why the hell would you go and force a struggling company to liquidate its only asset at .25 of its value(according to the private details I was able to read all about your investment firms finances thanks to some idiot who thought it was a great idea to share private company info with the world) which would translate into an even smaller return than that for you as investors... also it should tell the other people something about people like 'broken legs' and 'djayz' when they would encourage you to take the company down and just get whatever pittance you can because you would be first in line with your lawsuit..! What kind of thinking is this..?
I will have more to say, don't worry!

Didn't think this thread still had activity but to answer a few of your absurd questions/suggestions...First of all, all the letters posted are public knowledge, as you can see there is no private or sensitive information contained in any of them, hell they don't even have a name of the investor!
Second you talk about going down to an office that no longer exists, I think it's you that needs to get outside of your bloated head and think a little. To further add to that, reading into the finances of the investments firm is something called due diligence, they make it public for a reason, and if I am correct in saying they are required by law to disclose certain information. What all did you figure out from the ohh so private stuff that we posted?

What more do you have to say? If you did why didn't you just post it?


Anyways back on topic. I'm wondering if anyone has heard any recent news or updates from the company. It's obvious they are active in Germany but what's going on for all the people who are in Canada?