Shire Investments - Anyone an investor in their Calgary real estate?

[VladtheImpaler]

Originally Posted by Slava

I heard he had to declare bankruptcy, but that was a rumour and could be wrong.

Well, if he was a smart fraudster, presumably he creditor-proofed himself before embarking on his path...

[AMG_G]

Update.
http://www.calgaryherald.com/busines...megadrop_story

[Bigtime]

Was just about to post that article AMG_G.

[Nufy]

So does any one know what each of these d-bags are up to now ???

[Julio]

A good overview on the Herald site today regarding Concrete Equities:
http://www.calgaryherald.com/news/Co...727/story.html

[chemgear]

Man, lots of people got hurt in these real estate scams.

Speaking of which, I caught a radio ad just yesterday. Something about time shares in Victoria and how you can't "live" in a GIC. They mentioned contracted/ guaranteed returns and that they would buy back the property after for at least 5% higher than what you paid.

Anybody catch their name/hear this too? Here we go again?

[hmmhmmcamo]

Victoria real estate will always go up because every single person in Canada wants to move here when they retire, plus it's an island and we're running out of land! Better hurry!

[GP_Matt]

I feel bad from the people who were robbed; especially with them going around the sophisticated investor laws and allowing anyone to buy in.

One of the quotes jumped out of the story though. The man stated that he had heard you were supposed to diversify and that is what lead him to remortgage his house and give the company all of his assets. I don't know if I am missing something, but he seems to be saying that he heard it was a bad idea therefore he did it.

[GP_Matt]

Also, has anyone heard of The Yorkton Group? They are setup in malls trying to entice buyers to purchase empty lots around the city for development. It sounds like a very similar pitch.

[Julio]

Another update on Concrete Equities:

http://www.theglobeandmail.com/globe...rticle4545033/

[topfiverecords]

Next up: The various investment schemes and fraud of Lucid (Adam Drybrough & Blaine Kennedy)

[chemgear]

More than a year later:

http://www.calgaryherald.com/busines...889/story.html

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.

[1stLand]

Originally Posted by topfiverecords

Next up: The various investment schemes and fraud of Lucid (Adam Drybrough & Blaine Kennedy)

Does anyone know what's happening with these two?

[chemgear]

So many years later:

http://www.cbc.ca/news/canada/calgar...raud-1.3786673

Former Concrete Equities exec pleads guilty in $20M-plus fraud

Varun Aurora, 33, pleaded guilty to one charge of fraud over $5,000 on Friday afternoon while the other charges were dropped.

The Calgary courtroom was packed with dozens of Aurora's victims, some of whom at times throughout the hearing could be heard crying.

Aurora comes from a wealthy family; his father invested nearly $1M in El Golfo and as part of his sentence, Aurora has paid another $1M in restitution.

Aurora has paid $63.70 of the $500,000 fine imposed on him by the commission.

[Alpine Fisher]

If anything this sentence serves as encouragement for people who want to commit investment fraud. Lots of Profit & no Jail Time.