Dear Investor
I have been investing in Alberta Real Estate for over 20 years with many different organizations and on my own and want to ensure when I see a company that is offering Real estate investment opportunites to Albertans that stand no chance of success ….. I speak up.
The reason I say this is bacause I have researched this company as a possible source for my own investment dollars, researched in-depth the Alberta Real Estate Investment projects Foundation Capital is offering, and checked out the background of the principal “Ron Aikens”. Ron Aikens is somewhat of a scam artist and really has in depth backgrounf in the Real Estate industry and is about to enter a learning curve of his life and will take hundreds of investors money with him.
In addition in speaking with the land planning division with the County of Rockyview (which is the jurisdiction where one of Foundation Capital’s investments is located) they informed me that the property the investors invested in will proably never be developed….. they as well said be leary Foundation Capital.
In closing, there are some great companies out there with experience to Invest in Alberta Real Estate with and Foundation Capital is definately not one you should touch.
Invest wisely we work hard for our money !!
Sincerely
Kelsey Todd
Hi, my name is Don and I'm a reporter working on an article on an ASC hearing on a Foundation Capital project. I'd like to talk to you, could you please call me at 403-938-6397.
ReplyDeleteHi Don have you been following the
Deletelatest happening with The Harvest Group and Ron Aiken's?
Did anyone get any of their investment back? What if anything happened to Ron Aikens? We invested a lot of money and we certainly regret that decision.
DeleteHarvest Capital (an associated company) contacted me years ago
ReplyDeleteto promote two investments, The Land Development Company and Payday Today USA. Both were subject to severe regulatory actions.
Roy Beyer, the marketing director, used to sell tax shelters by the Park Lane Group . Google it to find out the rest of the story. Roy insists there is still a chance to win in court, but as a person with over 20 years in public accounting, I am not so sure.
I have been contacted by Mr. Beyer who has requested me to clarify my statements. Nothing I have said in my previous comment is untrue, but by commenting on this blog it could be construed that I am agreeing with everything that ‘Kelsey Todd’ is saying. I do not.
ReplyDeleteThe statements that ‘Foundation Capital is a Scam’ as well as the statement ‘Aitkens is somewhat of a scam artist’ are far too extreme. Foundation Capital and Harvest Capital management have promoted many investments in addition to the Spruce Ridge project and the two problematic investments I have referenced in my above comment. I have seen nothing to indicate that any of the numerous other projects were in any way less than successful. To me this would not constitute a scam, but merely issues the investor ought to be concerned with.
In my opinion, the primary risk of the project is that the MD will not approve it. Should that be the case, I have no reason to believe the investors will not receive the majority of their money back. Foundation should have more accurately communicated that risk to the investors at the seminars. For more information, please see the settlement agreement on the Alberta Securities Commission website.
I do not agree with Todd’s statement ‘there are some great companies out there with experience to Invest in Alberta Real Estate with and Foundation Capital is definately (sic) not one you should touch.’ It has been my experience that many of the companies out there are far worse than Foundation Capital. (In my blog I have posted about Concrete Equities.) Furthermore, I must question why the Alberta Securities Commission has been harder on Foundation Capital than some of these other companies.
Foundation capital is a fraud they have lost 50 million of investor money in bogus real estate swindle now trying to convince those investors to buy into a mutual trust scheme to avoid prosecution
ReplyDeleteThis comment has been removed by the author.
DeleteYou are absolutely correct. They moved Alberta investor money to PANAMA!!! Check out all the posts in Topix for more info!
DeleteAny one with any comments on the latest investment of The Harvest Group of companies going south..FROG..
ReplyDeleteThey lost over 29 million within months of the initial investment
I have read the frog material, and am not surprised. There were so many red flags. Making an acquisition and marking the units up to $12, and telling the investors they had a capital appreciation. Paying the investors regular 'cash flows', as if it was an actual return on investment, when they were actually just a return of capital. Isn't that just the definition of a Ponzi.
ReplyDeleteI have found a couple of videos where Roy Beyer states that not one investor has lost a single dollar with Harvest, yet there were the Land Development Company, Payday Today USA, and at least one other one for which I don't have the name.
I believe this is the one for which the securities commission should prosecute the most.
There is now a website to help with the flow of information to the investors and to help manage the vast number of investors.
ReplyDeletewww.foundationinvestorsgroup.com
You are welcome to use it as well, as I am sure lots of people will be signing up for it.
Here is another website. They send updates via email as well if you register and have copies of presentations on the website. Very helpful!
Deletehttp://www.foundationinvestorsucc.com/
there goes my retirement and at my age it will be hard to get a job. what a mess. very scary!
ReplyDeletejoin larry elford on facebook, search this name on youtube, and know that there are discussions underway to find ways to hold persons accountable and possibly get some clients their money back
ReplyDeleteThe lastest on Ron and Harvest / foundation capital / scam investigation can be attended in person:
ReplyDeleteFor the Edmonton area people, the next investor meeting is
March 27th, 2012 - Edmonton
Royal Glenora Club
11160 River Valley Road
6:30 pm -9 pm
http://www.topix.com/forum/ca/calgary-ab/TCJJLRO0CQH5KIS76/p3
A great number of investors are congregating on this forum to express their displeasure with The Harvest Group and Foundation Capital.
ReplyDeleteThe Investors deserve more!!
Go now and join in.
http://www.topix.com/forum/ca/calgary-ab/TCJJLRO0CQH5KIS76
More info for people looking for The Harvest Group Of Companies.
ReplyDeleteFor those looking for a link to the affidavits, judges orders, monitors reports, etc. they are all available from the main page or Ernst and Young's page dedicated to this CCAA proceeding. The link to the main page is http://bit.ly/rPxVSo
The link to the most recent affidavit filed by Kyle Brown that some have been referring to is here: http://bit.ly/HBuEJ8 This is a pdf document that is quite large so it may take some time to download depending on your internet speed, but well worth a read as are the other documents on the site available through the first link.
You need to go to Ernest & Young http://documentcentre.eycan.com
ReplyDeleteRon is putting Harvest Capital Management ,125 & 133 under CCAA protection. Read his affidavits and exhibits. Basically it is the next step to total collapse of everything. There is no money left to keep anything going. HCMI managed the other projects so those projects will collapse shortly
If your an investor in any of the Harvest Group of Companies (Ron Aikens) investments,you know how this has gone,badly..and you need to sign up for the Harvest Capital Litigation Class Action Law Suit,the website at:
ReplyDeletewww.harvestlitigation.com.
Lots of very good information at that site. Ernie.... e.callow@sasktel.net
I went to almost 7 presentations by Harvest where Ron was and not once, not one time did Ron say “I’m sorry” I screwed up. Instead it was because of the market bla bla bla, So, let’s tally it up; 7 land syndications, FM 1 and 2, Both malls where I just found out Ron tried to force a sale to collect a fee after he made almost 9 million in profit (what a piece of work) FROG where he pocketed almost 10 million and the company was left with 20 cents on the dollar and this Chinese car company that has done nothing in 5 years. Yes Ron, it’s the market and we should all feel sorry for you. You have destroyed hundreds of families life savings. I can’t wait to see the litigation where we will finally see justice done to not just Ron and Roy but the agents, past employees and the liars who covered up all the truth at those town halls. It’s going to be as the preachers like Roy Beyer would say, "Biblical."
ReplyDeleteInvestors have launched a class-action lawsuit seeking to recover $500 million they put into a series of beleaguered real estate companies and related ventures promoted by a former Lethbridge pastor.
ReplyDeleteA statement of claim filed in Court of Queen’s Bench on Wednesday alleges hundreds of people invested their savings in a scheme that improperly siphoned millions of dollars to Ronald James Aitkens and seven other people named in the suit.
Read more: http://www.calgaryherald.com/business/Half+bi ...
Postman56, tell me more about the Chinese car company! claude.adams@globalnews.ca
ReplyDeleteHello Claude,someone on Topix Forum had brought attention to a video link of a manufacture that Aikens was showcased as working with them. It was kind of a marketing video.You should be able to find it still on the Foundation Scam forum, on Topix Calgary. Could be where lots of the money went!!
ReplyDelete
ReplyDeleteRES Motors is a branding company that plans to do global marketing for BAW and a couple of other Chinese Auto manufactures. They have given Olaf Petersen an exclusive deal to find suckers for them who will bring them to key markets and take pennies on the dollar they pay Olaf and his partner Mike. Ron Aitkens is apparently on the board of directors. Charles Lau is the CEO. He, Olaf and Ron are buddies and he seems to share their value system. They tend to find sub-agents, get their contacts on the promise of a contract, dump them before a contract is signed and then deal with their key contacts in-country.
Will not give Up
Some are wondering about the connection between Foundation Capital and RES MOtors. RES Motors is a branding company that plans to do global marketing for BAW and a couple of other Chinese Auto manufactures. They have given Olaf Petersen an exclusive deal to find suckers for them who will bring them to key markets and take pennies on the dollar they pay Olaf and his partner Mike. Ron Aitkens is apparently on the board of directors. Charles Lau is the CEO. He, Olaf and Ron are buddies and he seems to share their value system. They tend to find sub-agents, get their contacts on the promise of a contract, dump them before a contract is signed and then deal with their key contacts in-country.
Randy_N
RES Motors, a company to boycott, you are not welcome in Canada as far as I'm concerned!!
You may not know this, but W5 is doing a big story on what has/is happening with Foundation Capital and they would like a bunch of investors to go out to Airdrie country Estates
ReplyDeleteThis is VERY important for all of us to help set the tone for recovering our investments and putting the pressure on the Government, the RCMP, and the ASC to do something about what Aitkens has done to all of us.
In the words of the legacy director:
Ron Aitkin’s has perpetuated a ½ billion dollar fraud on thousand Investors in Western Canada. This could be the largest White Collar Fraud and Breach of Trust case in Canadian history.
Looks like Ron won't be spending much of our money anymore:
ReplyDeletehttp://www.calgaryherald.com/touch/story.html...
At least something positive has happened.
Roy Beyer andRick aka Richard Gozdek are all scam artists, google thier names and see how thy're connected. Ro'ys connected to Stephen Harper, the Prime Minister of Canada!
ReplyDeleteI've read all the material Frog , Harvest, Park Lane Tax shelters, Railside, been to several of thier amateurish presentations. Most materials and presentations had huge red flags, and errors that were obvious to anyone that knows. Further no real financials and track record were ever presented. These guys were a easy to spot scam and My girlfriend was a promoter, I just shook my head. They paid her commissions of 7-20 percent , no wonder she was always so happy.
ReplyDeletew5 on ctb and globals 16x9 and cbc's investigation show have all interviewed Ron, he looks like a scammner no wonder they needed former preacher Roy Buyer as a front man. Roy's currently proudly boasting that he took over $360 million for foundation from investers in his bio.
ReplyDeleteIf I was one of the ripped off I'd expose him and his operatives.
RES International Group of Companies
ReplyDeleteCorp. Head Office Address:
Erin Court, Bishop’s Court Hill, P.O. Box 111, St. Michael. BB 14004, Barbados, W.I.
Telephone: (403) 398-6129 (North America)
Charles Lau
High Street Realty Inc.
403-398-6129
6 Evansbrooke Pk North West, Calgary
Alberta T3P1E4
always watch out for the sneaky one's under the radar
ReplyDeletehttps://ca.linkedin.com/pub/olaf-petersen/9b/189/118
https://www.facebook.com/michele.p.petersen
https://ca.linkedin.com/pub/charles-lau/21/215/bba
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ReplyDeleteScammers have ruined the forex trading market and this company is one of them. They have deceived many people with their fake promises on high returns. I learnt my lesson the hard way. I only pity people who still consider investing with them. Please try and make your researches, you will definitely come across better and reliable forex trading agencies that would help you yield profit and not ripping off your money. Also, if your money has been ripped-off by these scammers, you can report to a regulated crypto investigative unit who make use of software to get money back (fightingscams at aol dot com). He is a recovery expert and a very professional one at that.
ReplyDelete