Class Action Lawsuit Against Platinum Equities

Links in the News:

Sept 15 2012: Platinum Equities faces ASC hearing -Calgary Herald

Sept 14 2012: Alberta Securities Commission alleges illegal distributions, prohibited representations and unfair practices in sales of securities by Platinum Equities Inc. - ASC site

Sept 14 2012: Calgary firm raised $58-million while misrepresenting facts to investors: regulatorThe Globe and Mail

Sept 14 2012: Alberta regulator accuses real-estate syndicator of illegal distributionsCanadian Business

Sept 14 2012: ASC alleges illegal distributions, prohibited representations and unfair practices in sales of securities by Platinum Equities Inc. – Sacramento Bee

Sept 12 2012Alberta Securities Commission – Notice of Hearing on Platinum EquitiesAlberta Securities Commission

Sept 10 2012:Class-action lawsuit launched against Calgary company - CBC


Sept 9 2012:Suit alleges building-management firm took at least $160 million from nearly 2,200 people - The Province

Key Dates:

Sept 12 2012: Alberta Securities Commission alleges illegal distributions, prohibited representations and unfair practices in sales of securities by Platinum Equities Inc.

Sept 6 2012: Class action suit filed against Platinum Equities, involving key figure from Concrete Equities. The players involved include Dave Humeniuk, who has been sanctioned by the Alberta Securities Commission, and carries a life time ban for offences related to the Real Estate Commission of Alberta. Mr. Humeniuk was sanctioned by Alberta Securities Commission (ASC) in January 2012, for not disclosing this ban in Offering Memorandums prepared while he was involved with Concrete Equities,Shariff H. Chandran, who has been convicted for misrepresenting himself as a realtor, and Riaz Mamdani. (SHARIFF H. CHANDRAN, also known as S.H. Chandran, Sri Chandran and Srinivansan Chandran)

Class Action Lawsuit Against Platinum Equities

June 25, 2012, McGuigan Nelson LLP filed an Action in the Court of Queen’s Bench of Alberta to advance a claim on behalf of all investors and/or limited partners and/or shareholders in the projects listed in the link below. If you were an investor in one or more of those projects, the Statement of Claim contemplates your investment loss and will be advanced on your behalf. They have separate sub-classes in the lawsuit for each investment, which is generally listed in the link below. The Statement of Claim names many more parties, to incorporate the various corporations at issue with each investment. This is being advanced upon a class action basis, which further contemplates sub-classes for each limited partnership.

McGuigan Nelson LLP Web Site Links:

09/14 ASC lays charges against Platinum Equities more

09/11 Summary of News Coverage - Platinum more
09/11 Hundreds of Investors Attend Town Hall Meeting more
09/10 Important Information about Platinum Equities Class Action Lawsuit more
09/10 CBC The National reports on Platinum Equities Class Action Lawsuit more
09/06 Platinum Class Action Statement of Claim being Amended more
09/06 Press Release relating to Platinum Equities Class Action Lawsuit more
09/05 Message to Dominion (Qualia V) and Lucaya Investors more
08/31 Platinum Class Action: Lucaya Sale more

Thursday, December 16, 2010

The Barron Building


  1. Any Barron investors out there that have heard anything from PE since the roll-over option in early 2010?

  2. Not a word - can't believe that the lawyers weren't called in to enforce rights on that bad deal at least to recoup the reno costs put in to the building.

  3. Does anyone have a copy of the Offering Memorandum or the marketing pamphlet for Barron? Going through my files and I never did receive it from them.

  4. Found this with a google search re the Barron Building - Note transfer from Barron Redux to numbered company 402801 in June 2008
    Newel Post Developments/Riaz Mamdani litigation.
    This document is publicly available on the Internet:

  5. This document only allows PE/Barron to add to their statement of defense.

    [51] The application by 1402801 to amend its Statement of Defence is allowed

    They had 30 days to refile. Anyone find follow up documentation ?

    [52] Due to the amendments, awarding Summary Judgment would be inappropriate at this
    time. My analysis on the matter is meant to be informative to the parties, hopefully guiding them to the timely resolution of their dispute. The appeal of the Judgment granted by Master Waller, Q.C. is allowed.

    [53] The parties may appear before me to argue costs within 30 days from these reasons being

  6. Quite agree,hopefuly we'll have some news to post by next week on legal representative for ALL of Platinum investors. This will be a call to arms and we will need ALL on board to not only help punish those for wrong doing but also for FULL restitution from ALL guilty parties.
    February 16, 2011 1:09 PM

  7. Dominion Place Investors vs. Defendant Multus Investment Corporation (General Partner/Shariff Chandran) is scheduled for TUESDAY,MARCH 1, 2011 10:00 a.m. at Court of Queen's Bench, Calgary.

    Your attendance would be appreciated.

  8. Doug said...

    did you catch the article in the Calgary Herald business section today? "security regulators cracking down on fraud". Talks about ASC taking fraudsters to criminal court and getting jail time. Talks about Calgarian, Robert John Sellars being found guilty of lying to investors, received a two year sentence and was ordered to pay restitution of almost $2 million.

    a step in the right direction.couldn't come at a better time.

    February 23, 2011 10:04 AM

  9. I haven't been following the Barron building but when did Strategic Group buy it

    They posted a video on Oct 26, 2009....

  10. It was purchased by 1402801 Alberta Ltd. through David Bulloch (VP @ Strategic)listed as Director.
    Title shows purchase price of $26 million dated May 30/08.
    Registered address is that of Strategic Group of Companies.
    This company showed as being incorporated only 8 days before on May 22/08.

  11. So what is this about a roll-over option in early 2010? Platinum does not appear to own the building.....

  12. Platinum told us that they didn't own the building anymore at the meeting in December 2008.

  13. Did you get any money out?

  14. Why did they wait to tell investors in December 2008 when they sold the building 9 months earlier?
    Any advance notification of problems with this investment?
    Any resolution for investors three years later except a lot of previous talk of "options"?
    Anyone @ Platinum answering our questions now?

  15. File a lawsuit to get your principal back plus profit. The Platinum GP is taking LPs for a ride.
    These actions are all crooked and ripoff to LPs!
    Go to your local police and RCMP, too!

  16. Anonymous said...

    Enron management and Arthur Andersen auditors lied to Enron's pensioners and investors, thus stealing their money.

    Arthur Andersen went under for lying.

    Enron's Ken Lay died in prison and the other management team who lied are still in federal prison where they should ROT!

    Did Enron employees who lost their pension knew the Enron management was going to steal from them? Management gave employees pension in Enron stock and said these stocks are good in Enron. Meanwhile, management was selling their stock in Enron. The same applies in this situation. It was all LIES AND DECEPTION, cover-ups and STEALING which equals big time fraud.
    Saturday, March 12, 2011 10:32:00 PM

  17. Any new info on the Barron investment? I am an investor and haven't heard anything more about the roll-over. Have you?

  18. have not heard anything.

  19. To All Barron Limited Partners

    Platinum Equities Inc. is nothing but a tremendous fraudulent scheme to use and steal peoples' money.

    Shariff and Chitra Chandran are nothing but low down SCREWBALL SCUMMERS.

    They already stole your money and want to get rid of the building.

  20. Anonymous said...

    Anonymous said...

    To Posting Friday June 3, 2011 8.17 AM

    Once again, Shariff Chandran is stealing from investors by not communicating the sale and its details and also paying out less money than ought to be.

    Must we advise limited partners about rallying and hiring litigation teams to get back what is due to limited partners?

    Other limited partners from another investors' blog said that multiple partners from projects should make a list of limited partners from each project that they are in. Next we create a database of limited partners, eliminate duplication and cross referencing who is which project. Then, we must ALL get together by coordinating and meeting to decide what legal teams we will hire to get our money plus rightful earnings back from Shariff and Chitra Chandran and Platinum Equities Inc.

    We are tired of each of you complaining about what is happening in your project, about Shariff Chandran stealing your money and not telling you. It is about time we get our act together and fight this CRIMINALS, Shariff Chandran and Chitra Chandran.
    Saturday, June 04, 2011 4:38:00 AM
    Saturday, June 04, 2011 4:43:00 AM

  21. Anonymous said...

    To Posting Friday June 3, 2011 8.17 AM

    1. If you live in Calgary, you can go to the police station closest to 906 12th Avenue SW Calgary to file criminal charges of theft or you can go to the police station nearest to where you live. Get other limited partners of your project Eleven eleven building to file criminal charges of theft as well.

    2. Next, you head down to the RCMP office to file criminal charges as well. You can do the same as the police reporting by getting others from your Eleven eleven building project to file criminal charges too.

    3. Next you organize limited partners from your group to hire a legal team.

    4. Next you organize limited partners from your group to get together with limited partners of other groups to go to the broadcast media, meaning, television (Global news, the National or CTV) to protest outside 906 12th Avenue SW Calgary.
    Sunday, June 05, 2011 4:12:00 AM

  22. AnonymousJan 18, 2012 10:42 PM

    To All Limited Partners of Platinum and Accolade Equities Inc., past and present of all projects, please join our litigation group by emailing

    first, your contact information to

    We shall advise you of what to do next after receiving your email first.

    1. Is this group legitamate? Does any Barron or other PE investor belong to this 'group'?

  23. If you really want to get back at certain scam artists, this is who you contact:

    Canada Revenue Agency Prairie Region Informant Leads Centre


    Integrated Market Enforcement Team (RCMP), Calgary


    Especially when the nice men with guns from IMET show up, you can bet Messrs Chandran and Mamdani will need changes of underwear, in addition to lawyers.

  24. I received an email today -

    "Dear Barron Investor,
    Please click on the below link to read an article on the Barron Building released on January 20, 2012.

    Janine Couture
    Platinum Equities Inc"

    The article says the Barron building is languishing, but since I'm invested in the roll over land investment, it is fishy that they are sending updates on a building I am no longer invested in.

    *The article also says "Platinum sold the building just over a year after buying, and is now shutting down its entire business."

    WTF? SHUTTING DOWN ITS ENTIRE BUSINESS?? and this is the sneaky way to tell us!?

    1. Mr. Chandran states in the article that investors are "unhappy"???
      He bought the building using investor money and every investor paid a minimum amount of $50,000.
      Then he sold it to his "friend" in 2008 but didn't collect any money at the time of the sale and told investors they owed Platinum $3.5 million in costs and expenses so wouldn't get any money?
      Stellar job of managing not only investor money but another Platinum development project.
      Nothing new here.

  25. This information below is for all Platinum and Accolade Equities Inc. Limited Partners to file a complaint with the Canada Revenue Agency about Platinum and Accolade Equities Tax Fraud and Strategic Financial Inc. also.

    Make sure you file a lot of complaints to Canada Revenue Agency.

    How to Report Tax Fraud in Canada
    By Eric Som, eHow Contributor

    Print this article

    How to Report Tax Fraud in Canadathumbnail A court may impose monetary penalties for those found guilty of tax fraud.

    In an effort to minimize tax fraud, the Canada Revenue Agency manages the Informant Leads Program. The program allows CRA to receive information from the public about tax fraud allegations. If CRA believes there is an element of noncompliance with tax legislation, the agency takes the appropriate enforcement action. The Informant Leads Program has five regional offices in Canada. You must report the alleged crime in the office located in your region. CRA does not disclose the identity of informants.
    Related Searches:




    Gather as much evidence of the alleged tax fraud as possible. This may include, but is not limited to, the suspect’s name and address as well as any additional detail(s) surrounding the suspected crime.

    Write a letter addressed to the specific Informant Leads Program office in your location, ensuring that your letter discusses who, what, when, where, how and why, if possible.

    The five regional offices of the program are: Atlantic Region Informant Leads Centre, Quebec Region Informant Leads Centre, Ontario Region Informant Leads Centre, Prairie Region Informant Leads Centre, and Pacific Region Informant Leads Centre.

    Therefore, if you live in the Pacific Region, for example, you must address your letter to “Pacific Region Informant Leads Centre.”

    Print the letter, making sure you include a date and your signature.

    Mail the letter to the regional office in your location.

    If you reside in the pacific region, send the letter:

    Pacific Region Informant Leads Centre

    Southern Interior Tax Services Office

    c/o Surrey Tax Centre

    9755 King George Boulevard

    Surrey BC V3T 5E1

    If you live in the prairie region, send your letter to:

    Prairie Region Informant Leads Centre

    Winnipeg Tax Services Office

    325 Broadway, 5th Floor

    Post Office Box 1022

    Winnipeg MB R3C 2W2

    If you are in the Ontario region, send your letter to:

    Ontario Region Informant Leads Centre

    St. Catharines Tax Services Office

    32 Church Street

    Post Office Box 3038

    St. Catharines ON L2R 3B9

    If you are a resident of the Quebec region, send your letter to:

    Quebec Region Informant Leads Centre

    Montérégie-Rive-Sud Tax Services Office

    3250 Lapinière Boulevard

    Brossard QC J4Z 3T8

    If you live in the Atlantic area, mail your letter to:

    Atlantic Region Informant Leads Centre

    Saint John Tax Services Office

    126 Prince William Street

    Saint John NB E2L 4H9

    Read more: How to Report Tax Fraud in Canada |

  26. This Riaz Mamdani of Strategic Leasing owns more than half of the buildings in downtown Calgary and Edmonton but he doesn't own his own name. WTF??? It's being sold on the web. Lol. You can check it out for yourself and it's quite expensive too.....well at least for me it is. The link is:

    We should all join together and buy this Slumlord's website. It looks like somebody has already made an offer. Who knows its probably Riaz Mamdani himself?

    If anyone would like to join me in buying this well known fraudsters name on the web for the sake of the Uptown Theatre and to protect others from this ruthless Slumlord fraudster's next scam, please email me at:

    1. Why would we buy a crook's website and keep remembering his ruthlessness?

      He wants over $278000 for this website. We got better things to do with our money.

      As a matter of fact, he has all our money which we have to get back from him and Chandran.

  27. This article from March 8 2012 about Concrete Equities and it's involvement with Strategic/Mamdani indicates the need and the value of investors combining their efforts.


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