Protest Against Pigeon King Ponzi
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A demonstration is planned for July 30, 2008 in Kitchener, ON. at the Creditors meeting for the bankruptf Pigeon King International; a demonstration like the following
Farmers from across Canada and the US have become victims of what is showing signs of a very large pyramid/ponzi scheme which has failed and left 100's of farmers with useless pigeons to feed and support.
Whole communities have been affected by this.
We are asking people whom feel they have been defrauded by some type of scheme, whether it is a ponzi/pyramid scheme, fraudulent franchise or business opportunity, or some other sort of money making scheme where the authorities, the government, and the police tell us, the victims, that this is a civil matter even though it is in different sections of the criminal code and seem to think they need do nothing about it.
It is time for us VICTIMS to take a stand for each other and organize as a group to make changes so that laws are enforced and not swept under the carpet, to protect ourselves and others from falling victim to these types of scams.
I am aware that many people are embarrassed by the fact they have been victimized and do not want to be known so I ask that if this is the case then please attend with a bag over your head or a disguise and bring a placard.
This is not meant to be funny but rather to show that victims would rather keep quite then come forward. Because this so called scheme has rec'd quite a lot of media attention lately this would be a great opportunity to bring this cause to the media's attention.
Here is a link to the trustees website for more information, time and place.
For more information on this story you can go to betterfarming.com or this forum on Pigeon King (long read) and see what is written about this scheme.
I ask that you pass this on to others whom you feel have been victimized by a scheme and they in turn pass it on to others.
My goal is to have a 1000 protesters show up at this meeting to bring attention to the media, which in turn would bring attention to the authorities about this and other situations of fraud that is affecting the ordinary person and to show support for the farmers whom have been victimized.
With help, we can bring awareness to the public about these types of schemes and frauds.
Read More From BizOp News
Can Pigeon King Investors Recover some of their Money?
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"Jim Patterson, who leads the Toronto-based law firm Bennett Jones LLP's fraud law practice group, told Better Farming earlier this week that he is not currently informed enough about the PKI situation to comment specifically, but will look into it.Speaking in general terms about Ponzis, Patterson, who has dealt with 20 to 30 Ponzis over 15 years, describes the U.S. approach as "the way to go" for victims looking to recover money lost. The approach involves a court-appointed receiver recovering the gains made by all participants in the scheme and then administering the monies among all of the victims.
A receiver can tackle fund recovery for a scheme that was operated by either an individual or a business, Patterson says. Two or more people who have lost money consult a lawyer and determine whether they could apply to a court to have a receiver appointed."
Patterson should have been informed that there already was a trustee in bankruptcy in place - that would have changed his recommendations.
In a Court appointed receivership, the question of whether the pigeon contracts are debts owed by PKI or evidence of investment contracts is not that important.
However, in a bankruptcy it is critical. If the trustee decides that the pigeon contracts with breeders are really investment contracts in PKI, that is the breeders are stockholders of PKI, then they have no votes at the creditor meetings.
More importantly, as a group the would not be able to go after those breeders who got paid -and there appears to be a lot of them- from Galbraith's scheme.
The trustee appears to have tipped their hand - the breeder contracts are not going to be honoured as Pigeon King debt.
Be on your toes here.
