Steve Friedland of Western Liquid Capital Corp (Bankrupt)
Well folks, the latest in the Dollarmakers Scam saga sadness has been revealed. The BCSC (BC Securities Commission) has ruled against Steve Friedland of Western Liquid Capital for his illegal actions. This was one of Dollarmaker’s Robin J. Elliott most touted joint venture schemes.
You can read all about this failed “joint venture’ here: http://www.bcsc.bc.ca/release.aspx?id=11298
And CTV reported on it here: http://www.ctvbc.ctv.ca/servlet/an/local/CTVNews/20101202/bc_trading_ban_101202?hub=BritishColumbiaHome
There are many people here who have lost a lot of money here. Of course, there is a winner here. That would be Robin Elliott (again). He touted this as the end-all, be-all of Joint Ventures. Of course, that was because Robin Elliott was getting 6% per year off of any investments he referred to Steve! And MOST of Steve’s investors came from Robin Elliott, so you do the math. Hmm, Robin seems to be the only making money in “Joint Ventures” again! Surprise!
This will probably bring Dollarmakers down though, as this 18% per year illegal scheme was the cornerstone of Robin’s “Joint Venture” business.
Don’t believe me? Just read one of Robin’s many books, he mentions this too-good-to-be true deal in every single one of them.
Still want to pay $500 – $20,000 for Robin’s “advice”? Well, go ahead…. but “buyer BEWARE” Robin supposedly did “Due Diligence” on Steve’s business actions. Well, as you will read in the reports, the BCSC agent Ken Gracie said “Do your research, do your due diligence,” he said. “It can save you.”
February 8, 2011 at 4:25 pm |
I’m no fan of RE but it looks to me like this wasn’t a scam like much of the other stuff that he promotes appears to be. Friedland was doing something illegal, by ignorance or accident. It looks like he made a mistake and will pay for it dearly. I feel terrible for Steve and any of the other investors that lost their invested money. It looks like he took big steps to try and pay everyone he owed. Not like the Ponzi schemes that bilk people of their money. This was just a legitimate investment that went bad, as investments sometimes do.
http://www.bcsc.bc.ca/comdoc.nsf/comdoc.nsf/webpolicies/A1E7C814BEA45DCB882577ED006A720D?OpenDocument
February 15, 2011 at 12:40 am |
Thanks for the research and the blog. You probably saved me lots of heartache in small claims court.