Quote:
Originally Posted by Roger Strong
That would be the Financial Services Commission of Ontario (FSCO).
Their investigators were warning this since 2014. But their boss decided in May 2015 that there was not enough evidence to proceed.
And that's after a 2013 FSCO investigation started when the Canada Revenue Agency sent them information it said suggested that Fortress syndicated mortgages were, in effect, a Ponzi scheme. Less than a month later FSCO investigators closed the file for "lack of valid or reliable information to support further investigation."
According to the article the FSCO ignored plenty of other problems.
The RCMP investigation started in October 2016. |
Wow amateur hour over there. Thanks - quite concerning. Suspect any foul play or actually just incompetence?
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