Tuesday, February 16, 2010
Norshield Victims Sites Officially Launched with News Release
The following News Release was made available today.
, February 16, 2010 - What do you do when almost five years have passed, you have seen little progress from organizations who are supposed to be investigating an allegedly fraudulent hedge fund company called Norshield Asset Management and you have received no help from the organizations that are supposed to help protect Canadian investors? Toronto, Canada
News Release from Norshield Victims – Victims of the alleged Norshield Hedge Fund Fraud
I am asking all 1900 investors in Norshield products to contact me by e-mail at:
so that we can unite to combine our knowledge and effort in seeking justice. Institutional investors are also welcome. The intent is to have all victims step forward in order to create an accurate and complete contact list for the dissemination of information. I invite victims to join to obtain information about the Norshield class action lawsuit I recently learned of and to find out how we can all help to make this a success.
Joey Davis of the Earl Jones Victims Organizing Committee and the Be Strong Movement (www.BeStrongFoundation.org) has provided these words for the victims of Norshield, "By working together, all victims can achieve great success from a grass roots movement. Never give up hope that justice & restitution for the victims is possible, no matter how long that may take."
My name is Chris Ouslis and I am an investor in the Norshield funds. I have watched since May 20, 2005 when the Ontario Securities Commission (OSC) suspended trading of the funds after finding improprieties. In the intervening years, little information has come to me and I remain unaware of others who have been affected as my family and I have. We have all seen people like Joey Davis and the victims of Earl Jones achieve great success by working together. I have been inspired to follow their example.
There are now social networking pages established as Norshield Victims for victims of the alleged Norshield fraud at:
and there is a blog web page which can be viewed at:
where everyone can find information and links.
I ask the media to assist me in reviving this travesty of Canadian Justice. $500 million dollars has been lost in this potential Ponzi scheme operated by John Xanthoudakis, who remains free and against whom no criminal charges have been laid after almost 5 years of investigations. By comparison, the $50 billion dollar Ponzi scheme hedge fund operated by Bernard Madoff in the
has seen justice meted out. Madoff’s fraud was discovered after Norshield and Madoff has been sentenced while criminal charges have not even been leveled against Xanthoudakis here in USA . Canada
Stan Buell, founder and President of the Small Investor’s Protection Agency (www.sipa.ca), supports Norshield victims and believes that, "It is outrageous that regulators fail to protect investors and leave it up to citizen groups to seek justice on their own. This is yet another example of the regulatory/self-regulatory disregard for investor protection."