Greg martel

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Financial Services Authority and the B. Securities Commission in early and mid, according to financial services authority records obtained by Postmedia through a freedom of information request. On learning complaints had been made well before the scheme collapsed, one investor, Kelly, who wished to be identified only by her first name, said if regulators had dug deeper maybe investors could have saved tens of millions of dollars. She acknowledged the regulator is not per cent responsible for money she invested, as she has to own some of that responsibility. I get very angry.

Greg martel

Alleged Ponzi schemer Greg Martel was found guilty of civil contempt of court Monday in Vancouver, along with an uncommon request from the judge that the warrant for his arrest be placed in the Canadian Police Information Centre CPIC system, which would allow police and authorities across Canada, and possibly at border crossings, to be aware he is a wanted man. His whereabouts are uncertain, although he was rumoured to be in Thailand at one point. In her ruling, Justice Shelley Fitzpatrick said it was clear Martel has not abided by numerous court orders compelling him to produce financial records and co-operate with court-appointed receiver PricewaterhouseCoopers PwC in its work to find the missing millions and recover assets for investors. Martel, that he has failed to comply with the orders," said Fitzpatrick. If apprehended, Martel will face a court hearing to determine his punishment for contempt, which could include jail time. Monday's hearing began with Martel's second set of lawyers informing the court they had resigned for "ethical reasons," in a scene almost identical to one in June when Martel's first lawyer stepped down citing the same issue. SYOM was supposedly in the business of pooling investor money to provide short-term bridge loans to real estate developers. Investors were drawn in with promises of sky-high rates of return, sometimes as much as per cent interest on an annualized basis. But so far, investigators have not found a shred of evidence supporting the existence of the bridge loans. And Martel has only stymied their investigation. In arguing for the contempt charge, PwC counsel Peter Rubin cited a document recovered by investigators that appeared to list loan recipients. Martel told investigators names on the list were coded and that only he knew the real identities. Despite agreeing to provide the true names, he never did. Upon further investigation, PwC determined the document was bogus. According to Rubin, PwC spent a significant amount of time trying to get the account details from Martel, but he declined to co-operate.

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But once the dust settles on the sale of the seven-bedroom, eight-bathroom, 9,square-foot house, it's unlikely any of the money recovered will reach the many hundreds of people who lost money investing with Martel. Martel is the disgraced Victoria, B. SYOM collapsed last year amid a flurry of lawsuits filed by investors. The claims were consolidated by the court under a receivership order in May of and PwC was appointed receiver with the duty to recover money and assets of Martel and his company to pay back jilted investors. The Las Vegas property is one such asset — and a contentious one at that — requiring many months of legal machinations on both sides of the border.

A bankruptcy judge in California has issued a detention order calling for alleged Ponzi artist Greg Martel to be taken immediately into custody by the U. Marshals Service, assuming he can be located in the country. At the same time, new details have come to light about a run-in Martel had with a private investigator and authorities in Thailand in August. Court-appointed receiver PricewaterhouseCoopers PwC has been charged with finding where the money went and recovering any assets for the benefit of jilted investors. Martel's whereabouts remain uncertain. According to new documents filed in the U. Castellini is alleged to have hired a private investigator, who found Martel in Thailand and then arranged for Thai authorities to detain him on an expired tourist visa, according to a declaration from Neil Bunker, PwC senior vice president. Bunker goes on to say that Castellini and Martel then "cut a deal" that saw Martel transfer a Las Vegas mansion, two Teslas and a "substantial" amount of cash to Castellini, breaching court orders prohibiting him from disposing of assets. The deed for the Las Vegas property was allegedly notarized "by audio-visual communication," on Aug.

Greg martel

The B. Securities Commission has confirmed it is in the midst of an investigation of Victoria mortgage broker Greg Martel. The investigation will run alongside the investigative work of PricewaterhouseCoopers, the receiver overseeing the bankruptcy proceedings of My Mortgage Auction. The money was to be repaid with high interest. While the receiver has found very little money or assets in the last month of investigation, it has determined Martel recently made preferential interest payments to some investors.

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Martel told investigators names on the list were coded and that only he knew the real identities. Bizarre email highlighted at court hearing into Greg Martel and missing millions. We acknowledge the financial support of the Government of Canada. In that file, a complaint on Feb. Securities Commission. Hundle says he ceased to be a director in Investors now believe they are victims of a massive Ponzi scheme, according to lawsuits filed in B. In court filings in U. He died two years ago in a U. Please try again. Advertisement 5. Martel, who spent most of his time in the last several years in the Newport Beach area in California, was last seen in August in Thailand. According to Delafuente, Martel was super-giving and caring.

Martel is the sole director of My Mortgage Auction Corp. Chief among creditors is an investor identified as Alberta Ltd.

Greater Victoria unemployment rate sees slight drop Mar 8, PM. The investigator arranged for Thai authorities to detain Martel on an expired tourist visa, before cutting a deal that saw Martel transfer title of the Las Vegas property to Castellini, along with two Teslas and a "substantial" amount of cash. The commission also would not answer whether it passed on concerns in or to other regulatory bodies or the police. Have a tip? West Coast Homes. Advertisement 9. The financial services authority did not answer questions on whether it followed up with the securities commission or police on the and complaints. The complainant had also claimed that a representative of the company the name is redacted may not be able to do this type of investment. Greg Martel in contempt of court, warrant issued for his apprehension. After telling investors in a series of online videos this spring that they would get their money back, Martel fled to Thailand and disappeared, according to U.