After almost five years of investigation, the OSC has concluded that CEO John Xanthoudakis, President Dale Smith, and Chief Advisor Peter Kefalis misled investors while they lost $159 million dollars for 1900 retail investors in Canada.
This is really of no surprise to anyone. The real question is, will there be any criminal charges against these three crooks?
Other media that covered the story:
OSC finds wrongdoing in Norshield Hedge Fund Affair - Morningstar
Norshield trio breached security laws: OSC - Montreal Gazette
OSC rules Norshield hedge fund misled investors - Globe and Mail
Many questions remain unanswered in Norshield saga - Montreal Gazette
OSC finds wrongdoing in Norshield hedge-fund affair - Toronto Star
Affaire Norshield: une vaste tromperie, conclut la CVMO - la Presse - Montreal
This blog is intended:
1. To provide an opportunity for victims of the alleged Norshield fraud to combine our knowledge and effort in overcoming almost five years of unknown progress.
2. As a means of disseminating past, present and future information, progress and activites.
Victims, please register by e-mail to obtain all information and to create an accurate and complete list:
Norshield.Victims@gmail.com
Canadian Class Action Lawsuit Links
U.S. Class Action Lawsuit Links
Document Links
Media Links
- "Norshield records destroyed, affidavit says" - Montreal Gazette
- "DS sues two brokers over offshore dealings" - Investment Executive
- "Banks, clients look to dodge Norshield bullet" - Globe and Mail
- "Fraud alleged at Norshield; investors out $215-million" - Globe and Mail
- "Norshield report to come in September" - canadian hedgewatch
- "Structured to rupture" - National Post
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