Sunday, 29 October 2017

From The Desk of Alan Blanes..



From The Desk of Alan Blanes,

 Alan who is the lead Canadian contact for the Public Banking Institute and a member of the Council of Canadians continues to question the absence of justice and the rule of law in our financial regulatory systems. See below.

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To the attention of Heather Wood:
cc Hon. Carole James, Hon. David Eby, Hon Mike Farnworth, and MLAs

Thank you for the letter you sent today at 7:26 P.M.

Heather, we live in a democracy. This is presumed to be a political system where accountable reasons are provided for politically decided policy. Your letter addresses none of the issues associated with an investment company in BC claiming to have GICs which it is pledging to hold in trust for Harold C. Blanes, in a document signed by the client and the Investors Group salesperson and the Regional Director of Investors Group - Mr. Paul Demay - occurring on or about March 15, 2007. Issues surrounding the fact that the company was delinquent with the Office of the Superintendent of Financial Institutions [OSFI] and therefore was not authorized to offer the holding of GICs for clients, made this offer unlawful and undeliverable. This status of Investors Group as not being current in its corporate returns for its GIC Division "Investors Group Trust Company Limited" remained until February of 2014, when it re-registered with the OSFI. Harold Blanes utterly rejects all assertions that this signing of this undertaking had anything other than an intent to deceive.  The contract document also involved the providing of the drivers' licenses of the client and the consultant. It was not just a fanciful 'possibility of what kinds of securities may at some point in time be offered'. There is no reasonable way that such fluff could be read into the March 15, 2007 agreement. It says the Investors Group Trust Company Limited would hold GICs in trust for Harold Blanes. No "maybes" and "possible future range of various products". It is incredible that anyone is being asked to believe such a canard of an interpretation. The Ministry of Finance should not be so naive. This document signed by Harold Blanes on or about March 15, 2007 should be seen squarely for what it was: a creation of fiction with one purpose: to mislead the client into thinking he was being signed up for GICs. How could you try to excuse such a dishonest ploy? How could you rationalize someone who at the time of his being 86 years of age, would have to forfeit the enjoyment of retirement years having to fight and put up legal expenses over something this illegitimate? There are egregious aspects to what this company did. For one thing - while Harold Blanes was in a coma at the Kelowna General Hospital in February/March 2007, the company - without knowledge or consent racheted up his risk tolerance to "high". No regulator to this date ever questioned any of these outrageous acts. 

Harold Blanes - a 97 year old World War Two Veteran - who put his life on the line in June of 1944 on Juno Beach, Normandy, for Canada to have honest and accountable governance - is becoming profoundly worried that the impunity that is being provided to Investors Group in its fraudulent misrepresentations, is setting an intolerable precedent.  This company is being allowed to avoid having to explain why it provided misleading documents for the signature of the client - when it had no intention or capacity to "hold GICs in trust". Harold Blanes rejects the notion that an investment company may freely engage in the  hijacking of $414,000 of his savings - which he had been led to believe would be providing him with 4% interest for a 2 year GIC. Later findings indicate that there was more that one check mark on the "Time Horizon" line of this contract, and the box that would have been required for a seven year holding - was left blank. No "compliance officer" had scrutinized this record - which would have clearly required explanation - and a verification determined of what exactly what were the intentions of the client. None of this happened - and there is ZERO evidence that the IIROC Rule 2500 was ever carried out - that requires another staff person to check with the client when a new account is opened - to determine if the client is holding what they are told they are holding. IF THIS RULE WERE TREATED SERIOUSLY BY REGULATORS - ALL OF HAROLD BLANES' ISSUES WOULD HAVE BEEN CAUGHT, AND THIS WOULD HAVE BEEN MANAGED APPROPRIATELY WHEN IT WAS ORIGINATING. 

Instead, the IIROC paid no attention that its rule was ignored. The BC Securities Commission had not paid any attention to the fact that this procedure was absent in Harold Blanes' file. Instead he had been subjected to a decade of inexcusable torment and trauma. He has been left to have to experience an other-worldly level of abandonment and despair. Clearly, the regulation of the sale of GICs under false pretences is not treated as a serious matter in BC, and therefore it is going to be a priority of Harold Blanes in his latter years, to encourage that an independent verification process be organized by groups that have actually worked in previous years to protect our democratic institutions as honest, good-faith providers of services. The Royal Canadian Legion is a possible organization that may be able to invite interested members to begin to research what would be involved in achieving a public role for account verification. 

This is a realistic way to engage the clients of investment companies in the process of making sure that there is authentic checking with clients to determine their holdings. 

A British report on engaging the public in securities regulation:

Harold Blanes is not making up his complaint, and I was a witness to much of the representations that were made to him by this company. It has become an example of deliberate corrupt practice, that Harold Blanes has been told to use the Insurance Council of BC as the venue for his grievance. This would only have been appropriate - if and only if - he had chosen to contract for risk based insurance products. The regulatory apparatus has been acting disingenuously in expecting him to go to the wrong agency - and then  to experience being told that his complaint has no merit. Noam Chomsky has written about mangling the concerns of complainants - and then dismissing the grievances as having no relevance. The Government of BC should be above such a cynical elder abuse practice. 

Last year, Harold Blanes met with Brian Dillon of the Ministry of Finance Policy office. Mr. Dillon stated that there was going to be a review of the financial institutions that come under the Ministry of Finance of BC, and I would like to find out if this review process had commenced. The links to the backgrounders provided by Brian Dillon:

Mr. Alan Blanes:
 
Thank you for your phone call.  As discussed, I have booked a boardroom for us to meet on Monday August 29 at 1:30 pm.  The building is secured and there is no reception, so we will need to meet in the Lobby of my building, at 617 Government Street.  Please see the detailed note on meeting location below.
 
If you need to adjust the time, please let me know as my schedule so far is very flexible.
 
As mentioned, the government has commenced a review of its financial institutions legislation (including the province’s regulatory framework for insurance companies, insurance agents and trust companies).  Here are links to the discussion paper released last year and the paper summarizing the responses received during the consultation period:
 
 
I should note that this review does not encompass any matters relating to the administration of justice, such as court fees and costs.  This is the responsibility of the Ministry of Justice. 
 
I am looking forward to meeting you and your father on Monday.
 
Regards,
 
Brian
 
Brian Dillon
Financial and Corporate Sector Policy Branch
Ministry of Finance
Room 012
617 Government Street
Victoria BC  V8V 1X4
 
Mailing address:
 
PO Box 9418 Stn Prov Govt
Victoria BC V8W 9V1
 

 
NOTE:  My offices are at 617 Government Street, across the street from the Legislative Buildings. Take the main entrance up the steps on Government Street, which will lead you to the main lobby on the first floor where you will have to call me (my phone is 356-0539; if I am not there, press 0 and the call will go to our assistant) as the doors are locked from that lobby into offices.
 
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More to come

Tuesday, 26 September 2017

BEYOND BANKSTERS - The Joyce Nelson Tour

More from the desk of Alan Blanes,

I am greatly looking forward to reading BEYOND BANKSTERS. It is remarkably good that Council of Canadians chapters are getting enthusiastically engaged in the Beyond Banksters Tour.

A very significant aspect of the lawlessness that has arisen from the non-regulated SRO culture [self regulated organization], is its providing an impunity system for fraud and related violations of Sections 361-363 and 380 of the Criminal Code of Canada, that in a sane world, would be governing the sales of securities - stopping their sales under false pretenses.

I have spent a decade looking at the structural barriers to having the criminal code recognized and enforced in Canada on investment sales. There is a demonstrable unwillingness on the part of the mediative resources such as OBSI, Ombudsman on Banking Services and Investment, to assert any acknowledgement of the foundations of good faith.  OBSI will not acknowledge evidence of  dishonest dealing - but is only interested, in the case I have witnessed, is in getting the swindled client to sell the fraudulently dumped product. OBSI has shown that it is not willing to look at the extortion-type gag orders that the investment broker is willing to impose on the victim, in exchange for returning their funds. It claims that it is only looking at the matter of whether losses have been experienced by the client - but appears to not understand that sticking a client in a hidden 7 year lock in and putting a client's savings at risk - when the client has contracted for guaranteed savings - is against the law, and the law will only be enforced if those who see the evidence of violations are willing to document the malfeasance and take a stand against it with law enforcement. The whole regulatory culture in BC has a policy instead of parroting: "We are not allowed to look at the Criminal Code". 

In the past decade, I have saved hundreds of e-mail items of correspondence with the organization that are supposed to be guarding good faith practices in the marketing of securities; I have seen and saved countless replies that show clearly that the practices of deceptive dealing are now being protected by the very organizations that are supposed to be protecting the public. I have never found any interest in making sure that the Rule 2500 of the Investment Industry Regulatory Organization of Canada - that requires confirmation of new accounts by having another staff person within an investment brokerage, check with the client to ensure that the client is actually placed in the securities that they have chosen to contract for. This missing factor is responsible for many elderly people being subjected to enormous legal expenses, and years of unnecessary torment. 

CBC GO PUBLIC has uncovered a lot of facts that the Canadian public has up until now, not been made aware of. My dad's case is central to some of the coverage cited here:


The Green Party of BC is holding its AGM in Sidney on August 18 and 19. I am volunteering at that conference, and I am interested in finding anyone who shares my concern for getting rule of law restored in securities and investment in Canada. BC has been among the most lawless jurisdictions over the past several years. If the Green Party and the NDP could begin a dialogue on this topic - and create a tag team approach to getting the public on side, by reinforcing each other with coherent proposals for building an honest investment oversight system, this problem will be contained. 
 
Cordially 

Alan Blanes 
 
See below for info on Joyce Nelson and her new book,
 

Friday, 22 September 2017

BC Securities Commission Ordered To Pay Legal Costs In BC Court Of Appeals Loss


  Further on the case of Poonian v. the BCSC, BCSC is ordered to pay legal costs in BC Court of Appeals case it recently lost. This is the same case where the BCSC withheld hundreds of pieces of evidence so it could 'make' its case against Mr. Poonian. We have previously reported on this here among other posts. Breaking News in the Case of Poonian v. BC Securities Commission

The BC Securities Commission will not Appeal the ruling by the BC Court of Appeals to Canadian Supreme Court. Mr. Poonian will no longer have to pay any fines or disgorgement fees to the BCSC as a result of this ruling along with BCSC covering his legal costs. See court documents below, to obtain a copy of this ruling one can email bk1092003@yahoo.ca and request documents pertaining to this case should they not be made available online by the various government agencies involved.


More to come..

Wednesday, 30 August 2017

The whole regulatory culture in BC has a policy instead of parroting: "We are not allowed to look at the Criminal Code".


The following is an exert from an ongoing email conversation between numerous parties working to restore justice in the financial sector in Canada. It was written by Alan Blanes who has been working tirelessly to uncover the criminal actions of our financial regulators after his father was robbed by Investors Group, we have previously reported on such stories here among other posts.
CBC Go Public - Report on Forged Documents

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"A very significant aspect of the lawlessness that has arisen from the non-regulated SRO culture [self regulated organization], is its providing an impunity system for fraud and related violations of Sections 361-363 and 380 of the Criminal Code of Canada, that in a sane world, would be governing the sales of securities - stopping their sales under false pretenses.
I have spent a decade looking at the structural barriers to having the criminal code recognized and enforced in Canada on investment sales. There is a demonstrable unwillingness on the part of the mediative resources such as OBSI, Ombudsman on Banking Services and Investment, to assert any acknowledgement of the foundations of good faith.  OBSI will not acknowledge evidence of  dishonest dealing - but is only interested, in the case I have witnessed, is in getting the swindled client to sell the fraudulently dumped product. OBSI has shown that it is not willing to look at the extortion-type gag orders that the investment broker is willing to impose on the victim, in exchange for returning their funds. It claims that it is only looking at the matter of whether losses have been experienced by the client - but appears to not understand that sticking a client in a hidden 7 year lock in and putting a client's savings at risk - when the client has contracted for guaranteed savings - is against the law, and the law will only be enforced if those who see the evidence of violations are willing to document the malfeasance and take a stand against it with law enforcement. The whole regulatory culture in BC has a policy instead of parroting: "We are not allowed to look at the Criminal Code". 
 
In the past decade, I have saved hundreds of e-mail items of correspondence with the organization that are supposed to be guarding good faith practices in the marketing of securities; I have seen and saved countless replies that show clearly that the practices of deceptive dealing are now being protected by the very organizations that are supposed to be protecting the public. I have never found any interest in making sure that the Rule 2500 of the Investment Industry Regulatory Organization of Canada - that requires confirmation of new accounts by having another staff person within an investment brokerage, check with the client to ensure that the client is actually placed in the securities that they have chosen to contract for. This missing factor is responsible for many elderly people being subjected to enormous legal expenses, and years of unnecessary torment. 
CBC GO PUBLIC has uncovered a lot of facts that the Canadian public has up until now, not been made aware of. My dad's case is central to some of the coverage cited here:
 
 
The Green Party of BC is holding its AGM in Sidney on August 18 and 19. I am volunteering at that conference, and I am interested in finding anyone who shares my concern for getting rule of law restored in securities and investment in Canada. BC has been among the most lawless jurisdictions over the past several years. If the Green Party and the NDP could begin a dialogue on this topic - and create a tag team approach to getting the public on side, by reinforcing each other with coherent proposals for building an honest investment oversight system, this problem will be contained."
 
Cordially 
 
Alan Blanes 
Ph 250-300-8400
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Also be sure and check out the below links in regards to a new book from Award Winning Author Joyce Nelson, Beyond Banksters - Resisting the New Feudalism.
 

Wednesday, 16 August 2017

BC Securities Commission Chooses Not To Appeal Court Loss


Further news on the matter of Poonian v. BCSC in the BC Court of Appeals.

 We have previously reported victory for Mr. Poonian in the BC Court of Appeals at the link below.
Breaking News - Poonian v. BCSC

 After speaking with Mr. Poonian we have learned the BC Securities Commission will not seek leave to appeal this loss in Canadian Supreme Court.


More to come..

Thursday, 10 August 2017

To the Attention of Andrew Kriegler CEO of the IIROC


Below is a copy of a letter that is part of an ongoing conversation regarding restoring the rule of law in Canadas financial markets, the letter is penned by Alan Blanes who has made many guest posts on this blog and others in regards to this topic. Alan is a member of the Council of Canadians as well a the lead contact for PBI the Public Banking Institute in Canada. His and his father Harold's story went public on CBC recently, some of which can be seen here.
CBC Reports on Forged Documents

 See the letter below regarding the utter disregard for the rule of law by agencies such as the IIROC. As we have demonstrated many times the BCSC is not the only corrupted financial regulator in Canada. The entire system is a sham.


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Thanks for this Peter,
Also to the attention of Andrew Kriegler

I am very interested in finding out where things stand with regard to ending the misappropriation of the term "ombudsman" with regard to complaints against deceptive dealing in securities in Canada. I was able to trace 29 examples of where my dad had documented fraudulent practices by investment dealers and reported the evidence to compliance officers, senior managers, OBSI, regulators, government councils and commissions, and political representatives. A consistent response was to utterly ignore the evidence and the clear questions that were stated in clear sentences, to each of these authorities. The responses uniformly were to fail completely to engage on the questions, failure to register any recognition of the evidence, and failure to summarize the evidence to others with responsibilities to follow up on the evidence. 
OBSI was indefensible and inexusable in its wilful policy of disregarding facts that show explicitly that Harold Blanes had contracted for a tangible service with one of these brokerages, for GICs to be held in trust. He had sent the contract for this agreement to a number authorities, who have never acknowledged this agreement, preferring instead to do as Karen Budden of OBSI did, to try to get Harold Blanes to agree to "sell" the defective and unasked for seg. funds that he had involuntarily been placed in. Harold Blanes was aware enough to understand that agreeing to sell such unrequested products would be de facto acknowledgement of ownership, which he refused all along. 
At no time did any of the pretend mediators such as Karen Budden ever question the matter of Rule 2500 of IIROC having been, or not been, carried out; i.e., had anyone else in the firm verified that the client was in what the consultant had represented to the client. This pattern is uniform. Karen Budden is by no mean alone; her performance is symptomatic of the bad faith performance that runs through all of Harold Blanes' experience with the impunity that has been given to predatory and dishonest investment brokerage services. 
 
What has been shocking is that IIROC itself totally ignores the matter of whether there is a paper trail of applying Rule 2500 - and when there is zero evidence of this rule having been followed, IIROC plays dumb on this. It is obvious that from the Harold Blanes experience, IIROC has this rule only for show. As someone who has exhaustively researched IIROC complaint history, I would ask you Peter, if you have ever encountered a case where IIROC has a documented example of where an  IIROC or former IDA investigator has ever bothered to determine if a client account had ever been looked at by another person within the company to determine by asking the client - if the client was in what they thought they were in. Any example of a case where IIROC actually took their policy seriously would be a valuable piece of evidence. 
I am sending this message to the CEO of IIROC Mr. Andrew Kriegler, asking if he can provide one example of where a complaint resulted in a questioning of whether Rule 2500 was actually carried out in the management of an account. I would be surprised if he is willing and/or able to answer this question. 
I would expect that OBSI would be willing to put this Rule 2500 matter into their performance as a mediator. Thus far, their performance has been surprisingly indulgent of fraudulent practices, and has resulted in an ombuds-service fiasco. 
Cordially,
Alan 
 
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 More to come..

Monday, 7 August 2017

What Does the BCSC Do All Day? It Certainly Does Not Administer Justice Or Protect The Public



 Dear Brenda Leong, CEO of the BCSC:



  When will the BC Securities Commission do its job and administer justice to the people of this nation?

  We have documented many crimes of the BC Securities Commission in regards to multiple cases besides the U-GO Brands/Spyru saga. It would seem that the criminal actions experienced in our case (U-Go Brands) are pretty much standard procedures. Collude, extort, intimidate, obstruct, deny, deny and hide behind a wall of silence.

 We have warned you this will no longer be tolerated, justice is soon coming to this planet.

 We will now demonstrate a letter from a shareholder in a company that was called St. Elias Gold (SLI) that was destroyed so that the CEO and others could rob the shareholders of what may be one of the largest gold deposits in history. We have previously reported on this story here.
The Story of St. Elias Gold - Another Multi Billion Dollar Frap Operation for A Shadow Company?

 Posted below is a letter to public officials at the BCSC and the TSX regarding the fraud that took place from a shareholder of SLI who was left like the others with worthless shares after a bait and switch scheme swapped out the valuable real estate for worthless dirt.


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I recently contacted both the BCSC and TSX and was surprised by the response I received. 
First I emailed BCSC to follow up on Mr. Costin's promise to speak to the TSX on the Cueva Blanca sale. His response was that Mr. Shon is no longer with the TSX but it was his understanding that they would look into my concerns.
 
I then contacted the TSX regarding this. Their response:
 
All investigations and communications between an Exchange listed issuer and the Exchange are private and confidential.  Normally, we do not provide any data to outside parties unless required to do so by law.  A full review was completed and all files were closed June 17, 2013. 
 
June 17, 2013????? Lori didn't even put out the NR about the sale of the Cueva Blance until July of 2013, then it took me almost a year to discover that Harold Waller was the buyer of it. When I sent the documents to him he answered by saying he is unable to read Spanish.
This tells me that any complaint we have made to the TSX since 2013 has been filed in the trash bin, including pics of the core shack at the Tesoro in 2014 to which Shon responded "Prove this is the Tesoro". 
 
Also, my email in 2015 apparently was not investigated even with providing Purolator  receipt:
 
Sent: Monday, January 05, 2015 9:04 AM
To:
 Jeffrey Shon; 
[email protected]
Subject:
 St. Elias Mines
 
  
  
To Whom It May Concern: 
  
  
I am writing once again to present more information for the ongoing investigation of St. Elias Mines Ltd. 
  
In the past, many shareholders have forwarded their concerns regarding possible wrongdoings of management. 
  
Just to list a few: 
  
We have provided audio of the CEO addressing the shareholders making false claims about Quantec’s involvement in Peru. 
  
We have questioned the missing azimuths from the drill results, a requirement set forth in the 43-101. 
  
I have provided documents showing our B.C. properties being flipped between management and family members for large profits. I have also shown how our Peruvian property, Cueva Blanca, was sold to the company of an SLI employee, not to Minera Elemento 79 as stated in a news release. This is clearly a non arms length transaction. 
  
In July of 2014, a news release was put out stating that SLI had let the remaining properties lapse, followed 3 days later by another news release saying that “actually” the vigencias and penalties had been paid on 4 of the claims. 
  
So, in response to a June news release, stating “The Company is open to any serious offers to acquire any properties in its portfolio.”, a group of shareholders sent in an offer to purchase the remaining Peruvian properties. I have attached the offer, to which we have received absolutely no response from management. I have also provided the Purolator tracking letter, showing that all 3 copies were signed for by 3 different employees at the St. Elias head office in Vancouver. Several attempts of earlier delivery were made to no avail as no one was there for receipt. One of the copies was originally sent to the CEO’s home address but was not received so Purolator was instructed to deliver that one to the office also. 
  
 
 
Oct 23, 20141:15 p.m.Vancouver, BCShipment delivered to CLAUDA at: RECEPTION

 
 
 
Oct 15, 20143:40 p.m.Vancouver, BCShipment delivered to SUZAN at: RECEPTION

 
 
 
Oct 20, 20142:02 p.m.Vancouver, BCShipment delivered to CATHY at: RECEPTION

  
  
I trust you will look into this matter as part of your investigation.
 
                             

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     The letter(s) were written by Sherrie Wagg a shareholder of St. Elias. Brenda, what is it you and your gang down on West Georgia St. do all day? Certainly not protect the public or administer justice.
 
 
 
 Sincerely 
Christopher Burke