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  1. #1
    Join Date
    Nov 2005
    Posts
    67

    Latest on IFFL Decision

    Here's the latest "Scoop" on the IFFL Group.
    ( Newspaper Heading..." INVESTOR FRAUD ....ASC RULES" , The Canadian Press, Calgary.) Dated , Feb. 16/2007

    The Alberta Securities Commision says it all in this latest outcome and the future in my opinion does not look favorable for those unfortunate individuals who have placed their faith in this venture.

    Good Luck investors. ( The bottom of this $ bag is getting very wet and people could end up getting seriously hurt! ) If I were an investor I would be calling Head Office and Demanding the return of my funds ASAP!

    Click on the Recent Link below and make your own conclusion.

    http://www.albertasecurities.com/dms...2264860v12.pdf
    Last edited by King David 101; 02-18-2007 at 08:18 PM.

  2. #2
    Join Date
    Sep 2006
    Posts
    63

    Press release 2-16-2007

    Attached is the press release KD refers to:
    http://www.canadanewswire.ca/en/rele.../16/c9511.html

    Attention Business Editors:
    ASC Finds Fraud in $36.5 Million Illegal Distribution by Capital Alternatives, Milowe Brost and Strategic Metals Directors

    CALGARY, Feb. 16 /CNW/ - The Alberta Securities Commission (ASC) has
    found that Milowe Brost, Edna Forrest, Carol Weeks and Bradley Regier engaged
    in conduct amounting to a fraud on investors in Strategic Metals Corp. The ASC
    panel also determined that Strategic Metals, its directors and Brost conducted
    an illegal distribution of securities, raising a total of $36.5 million,
    including $24.6 million from Alberta investors.
    In its decision, the ASC panel noted the following:

    - witness testimony made clear that investors thought they were making an
    investment that offered a combination of income and safety;

    - Brost was at the centre of Capital Alternatives and Strategic Metals,
    and he knew from his investment club business what would intrigue
    investors;

    - Strategic Metals' directors consistently disbursed investors' money to
    third parties as quickly as it rolled in, without insisting on anything
    in return;

    - for the tens of millions of investor dollars expended, there was no
    evidence that Strategic Metals could plausibly provide investors the
    safety and financial return they were promised;

    - it was unlikely that the Strategic Metals investors will ever see all,
    or perhaps any of their money back; and

    - Strategic Metals' directors knew the reality and the very different
    picture painted for the investors, and the likely consequence of their
    actions.

    The ASC panel found that Capital Alternatives' marketing of the Strategic
    Metals securities was "highly promotional and rife with questionable behaviour
    and outright misrepresentations." In its decision, the ASC panel stated "The
    idea ... was that public investors would be lured by the promise of high
    returns, safety and that magic word, "gold", to put money into securities of
    what would, at the outset, be an empty shell of a company - Strategic." The
    ASC panel further determined that "the targets were not sophisticated
    investors. The highly promotional nature of the marketing materials played on
    their naiveté."
    The ASC panel also found that offering documents prepared by Strategic
    Metals' directors and Brost contained misrepresentations and provided wholly
    inadequate disclosure of Strategic Metals' business, stating that "what
    transpired was contrary to the letter, the spirit and the very premise of the
    OM (Offering Memorandum) Exemption."
    Brost, who the ASC panel concluded was the "the guiding mind behind the
    entire enterprise" currently has an undertaking with the ASC not to trade in
    securities in his capacity as the president and CEO of the Institute of
    Financial Learning (IFFL). Two of Strategic Metals' directors, Edna Forrest
    and Bradley Regier, were also found to have made false or misleading
    statements under oath to Staff's investigators. All of the Respondents were
    found to have acted contrary to the public interest.
    The panel will next determine what, if any, sanctions should be imposed
    on the Respondents.
    A copy of the decision is available on the ASC website at
    www.albertasecurities.com.

    The ASC is the industry funded regulatory agency responsible for
    administering the Alberta Securities Act. Its mission is to foster a fair and
    efficient capital market in Alberta and, together with the other members of
    the Canadian Securities Administrators, develop and operate the Canadian
    Securities Regulatory System.

  3. #3
    Join Date
    Mar 2006
    Posts
    15

    Re: Latest on IFFL Decision

    Thanks for the news WW,, it would be funny if it weren't so sad,,,,, and pathetic really,, i am so glad you were able to help your parents out of it.

    In case readers haven't seen open minded dude explain these minor details away, see post #21 http://www.scam.com/showthread.php?t=12189,,
    pretty funny in itself actually.

    Good luck to all those who are trying to extract themselves from this situation.

  4. #4
    Join Date
    Nov 2005
    Posts
    67

    Re: Latest on IFFL Decision

    Well.....it's true what they say about the wheels of justice moving slowly. Both of my brothers phoned their respective local newspapers trying to get the latest but to date none have responded with any additional information or articles thus far. Hence not any new news to report gang.

    I am hoping that once the word spreads about the Fraud charges, that many will demand their funds back ASAP. That said, if I did have any money invested in this thing...I'd be hustling to be first in line at the cashier booth. The early bird gets the worm they say!

    I was talking with a "Structurist" today and was told that apparently I just don't understand the "System". Adding that I also lack the necessary knowledge or expertise in financial foresight to understand this type of creative investing. After all...I would have to manage my own fancy portfolio and this takes hours if not days to master. "The ASC just don't understand the rules and supposedly aren't to be taken too seriously"."Nothing is going to come of this latest Fraud Charge". ( Gee....he didn't try to convince me to buy swamp land...I'm Impressed.)

    Man who is this moron kidding! ....LOL . I think I will pass on any further conversation with him. Has he never heard ,"Even a fool is considered wise if he keeps his mouth shut".There are no intelligent life forms on his planet.
    My reply was simply as follows: On our farm we have a saying.....

    "You can put lipstick on Hog....but it's still a Hog." ( To try and diminish the credibility of the ASC, given the excellent job they have done on this investigation, or to try and convince me that this isn't the biggest scam in Canadian history, would be like trying to convince the Pope he needs to convert to Buddism.) It is just not possible and I for one don't buy a thing this character is saying.

    Mr. Structurist....it's time to fold your tent and go home. We are not buying into this crap any longer.

    Have a Nice Day,
    KD 101
    Last edited by King David 101; 03-02-2007 at 04:59 AM.

  5. #5
    Join Date
    Jun 2005
    Posts
    838

    Re: Latest on IFFL Decision

    Quote Originally Posted by King David 101
    "You can put lipstick on Hog....but it's still a Hog."
    KD 101
    Yes, but let her drive. That way, you can cover your face with your hands. :o

  6. #6
    Join Date
    Nov 2005
    Posts
    67

    Re: Latest on IFFL Decision

    I think you're on the wrong site son.

  7. #7
    Join Date
    Jul 2006
    Posts
    18

    Re: Latest on IFFL Decision

    Quote Originally Posted by King David 101
    I was talking with a "Structurist" today and was told that apparently I just don't understand the "System". Adding that I also lack the necessary knowledge or expertise in financial foresight to understand this type of creative investing. After all...I would have to manage my own fancy portfolio and this takes hours if not days to master.
    IFFL "structurists" are ignorant when it comes to financial management. A relative of mine asked one of their structurists some basic financial questions about mutual fund investing, and the structurist was clueless. Of course the party-line answer is that nobody gets rich from stocks anymore. When my relative then asked for help on what they should invest in, the structurist said that it would take days to explain "how the rich invest" and that he would have to come to a seminar to learn. The closest thing to investment knowledge that he gave was vague references to "high-yeild fixed annuities" and "International Business Corporations."

  8. #8
    Join Date
    Nov 2005
    Posts
    67

    Re: Latest on IFFL Decision

    Just noticed that this thread didn't have the following link.
    Check it out for complete and up to date accurate information on this company.

    http://webmechanic.com.au/IFFL/

  9. #9
    Join Date
    Feb 2007
    Posts
    512

    Re: Latest on IFFL Decision

    The 2 most enlightening words in any 'investment' pitch, taht are also the 2 that should make anyone with more than 3 neurons run a mile:-

    'High Yield'.


    (rough translation:- "Need Suckers")

  10. #10
    Join Date
    Nov 2005
    Posts
    67

    Re: Latest on IFFL Decision

    LOL....I couldn't agree more Mojo.
    These guys are one neuron short of a synapse!

  11. #11
    Join Date
    Nov 2005
    Posts
    67

    Re: Latest on IFFL Decision

    Things still pretty quiet here.Hmm.....could this be the "calm before the storm?"

    Just heard from yet another IFFL investor who has been trying ( with no apparent luck) in retrieving his membership deposit. ( Could this suggest that the Ponzi cash flow is drying up? )

    Seems that some investors are now hustling to get their investment back and are apparently experiencing some trouble all of a sudden.
    Interesting. Very interesting.

  12. #12
    Join Date
    Nov 2005
    Posts
    67

    Re: Latest on IFFL Decision

    Update on Arbour Energy:
    No Surprise here!

    TORONTO, May 28 /CNW/ - Pursuant to Bulletin 2007-0206, Arbour Energy
    will be delisted at the close of business today.

    Effective Date: Market close, Monday, May 28, 2007
    Symbol: ARBR

  13. #13
    Join Date
    Nov 2005
    Posts
    67

    Re: Latest on IFFL Decision

    P.S.
    Investors: Don't say we didn't warn you!

    I detect this ship is beginning to list.

    Life Jackets Anyone?
    Last edited by King David 101; 05-30-2007 at 04:19 AM.

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