Coadum Advisors and Alberta Securities Exchange
On May 17th, the Alberta Securities Commision, in a wonderful dry and understated manner, one in which is not generally associated with Alberta around the Stanley Cup time, shut down a scheme aimed at soliciting funds for an unregistered security promising returns of between 2% and 8.5% a month with minimum of $100,000 "investment".
And to top it off, the investment was "risk-free". No where in the document nor the press release is the word "Ponzi" used. Just the lovely phrase that the "individuals and companies traded and distributed securities without registration or prospectus." It reminds of the British manner of describing criminal suspects as "assisting Her Majesty with the investigation."
The schedule of the hearings and orders can be found here.
Technorati Tags: stanley cup, alberta, risk free, ponzi, prospectus, majesty, promising, press release
