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

Greenwich Park


  1. Hi Folks

    As a purchaser of Greenwich, I would like to start gathering names of the LP's in this project so as we can communicate without going through PE..send me an email, and I will keep a running list, and provide it to all, of everyone in the Greenwich project

  2. The next hearing date for Court Action #1001-18286 Dominion Place Investors vs. Defendant Multus Investment Corporation (General Partner/Shariff Chandran) has been re-scheduled for next TUESDAY, Feb. 15, 2011 @11:00 Court of Queen's Bench, Calgary.
    The address is 601 - 5th Street S.W. (SW corner bldg).
    A preliminary audit/review of Qualia V LP Books and records has been completed and we expect to hear the results of this review since the Auditor has filed a court report with their findings to date.
    Further motion applications by legal counsel of behalf of investors are also expected.
    Investors are encouraged to hear and see for themselves the FACTS.

  3. The next hearing date for Court Action #1001-18286 Dominion Place Investors vs. Defendant Multus Investment Corporation (General Partner/Shariff Chandran) is scheduled for TUESDAY,MARCH 1, 2011 @1O:00 a.m. at Court of Queen's Bench, Calgary.
    Address of the Court House is 601-5th Street S.W.
    Justice LoVecchio will be presiding.
    Further investigation by outside accountants into LP original 2009 financial statements and re-stated 2009 financial statements (October 2010), extra mortgages and related party transactions has been approved/ordered by the court as a result of legal counsel's submissions at the hearing held this past Tuesday.
    Investors are once again encouraged to attend this upcoming hearing to stay informed and learn the facts to form their own opinions.

  4. 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

  5. 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.

  6. 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

  7. I called the Planning & Development Dept at the City of Calgary on Wednesday, May 11th to check on the status of the development permit for Greenwich Park. The City advised that a development permit application has NEVER BEEN SUBMITTED by PE (or under any other name) for that property. I called again on Thursday to double check and received the same reply from a different City rep. I left a tel message for Steve von Die on Friday about this but don't expect to receive a reply.

    The project cannot start without a development permit and a permit can take months to be approved. This project will not start this summer and we have been deceived by PE. I have joined the investor group for legal action as that is our only chance to salvage something out of this project. I encourage you to do the same ASAP.

  8. To Posting Friday May 13, 2011 5.46 PM

    Someone finally has his lights turned on in his brain. Have you not read all the limited partners' blogs by now for such a long time?

    PE Chandrans and his conspirators are all fraud scum!!!!!!

    It is now 3 years since 2008 when investors gave him their money. If Shariff Scum wanted to develop the Greenwich, he would have done so a long time ago. All he wanted was to pretend he is developing the Greenwich to trick investors of their money so he can give it to his family and conspirators and spend some on luxury items for himself. That is why fraud people want to steal your money.

  9. Shariff is no longer even interested in anything to do with Platinum. His interests lie in Holzbren and he couldn't care less about being sued.

  10. To Posting Saturday May 14, 2011 6.54 PM

    In that case, Shariff Chandran should reimburse limited partners their principal and earnings. Because he does not care, does not mean that he is not liable.

    He took investors money to use in Holzbren, so limited partners should sue Shariff Chandran and Holzbren.

    He is nothing but a low down scum dog and deserves everything he is going to get!!!!!!

  11. The court system is flawed, suing him won't do anything. Once Holzbren can stand on its own he will dissolve Platinum. Shariff knows this system better than anyone and how to protect himself.

    He appears to lack any feelings about what he has put people through and justifies his actions as business and it seems he doesn't even think about this mess.

    Platinum may have knew what they were doing when they took your money but try showing malice or intent in court. Tortious damage is very hard to prove and Shariff is very nicely insulated from this on a personal level.

    There is no justice and the only thing that can be done is to make others aware. Platinum will continue to ignore your calls and carry on unless this is brought to the media's attention.

    I feel very bad for the investors not so much for the loss money but because of the breech of trust, unimaginable stress and that awful feeling of helplessness with nowhere to go.

    As people continue to wonder about their financial future and well being, Shariff continues to live a heady lifestyle with no recourse for his actions.

    Media is the only way!

  12. To Posting Sunday May 15, 2011 9.22 AM

    Dissolving a corporation does not mean that the CEO who stole the money is not liable. Shariff Chandran would have committed the crime and he will have to do the time like Bernie Madoff who got 150 years in prison in the USA.

    We don't give a f... what he pretends to feel, insulated on not. Imprisonment is part of the penalty for defrauding limited partners of their money. Maybe his sister, Chitra Chandran, would have to be imprisoned too. That would look good in the media. "The Chandran Family Members imprisoned in Calgary jail for unspecified length of time, serving 3 plus life time sentences."

  13. Everyone agrees with you but remove the emotion from the equation! It's not about what he deserves, it's about what he can be convicted of.

    Everyone would love for him to be removed from society for what he has done but in reality it is not going to happen by the courts.

    However by making everyone aware of what he does, society itself will remove him. Social media and public awareness will expose him.

    Complaining in this insular blog is doing nothing and you can already see it is starting to die off. The momentum needs to keep rolling or he will just move on unscathed.

  14. That would lead to a defamation suit, the best way is to get an investigative reporter interested in the story. Go public with the facts, there is great interests in these stories.

  15. Interesting comments in the last few days.

    This supports how important the legal action is for investors as we have to be sure of what legal action can be taken and the possible outcomes.

    Good comments about the effect of media coverage. I think that McLean's magazine would be very interested in an article on corruption in Alberta. All of the guilty PE staff should be exposed including Phillip Pincus, Geof Filson, etc. as well as the principals.

    Agree that the venting and name calling detracts from the value of this blog.

  16. To Postings Sunday May 15, 2011 7.34PM and 7.39PM

    Good discussions but how about some action?

    Would you like to be proactive and take the initiative to call the media?

  17. To Postings Sunday May 15, 2011 7.34PM and 7.39PM

    Name calling and venting is the only way to show what Shariff Chandran, and his conspirators are about.

    You cannot treat indecent people with politeness and courtesy because they are not worthy of these qualities.

    You have to treat them the way they are, SCUM.

  18. Name calling and venting add flavour and spice to this blog and does not detract from its value.

    Shariff has detracted limited partners value to the tune of millions of dollars. Now that is detraction!!!!!

  19. The question is what are you looking to accomplish with this blog? If it to vent and blow off steam then by all means carry on.

    However, if you want to create a site to organize LP's and see what the options there are, Then the site would have to be conducted as professionally as possible while listening to the concerns and opinions of all members without arguing or alienating.

    There is power in number and unity. If we can all come together, I believe results can be had.

    As for going to the media, I have no problem doing this but we need to have a concise story, with factual information. Also we need to have full agreement from all LP's in order to proceed.

  20. I think more people should email Kim Guttersmon ( of the Calgary Herald to expose Chandran and Mamdani for what they are and for what they continue to do in and around Calgary. If the ASC and the RCMP refuse to do anything, then we should make sure the rest of the public is protected from these two.
    For those of you not familiar with Kim Guttersmon, here are few chosen paragraphs from an article she wrote a few months back.....

    By Kim Guttormson, Calgary Herald February 23, 2011 7:51 AM

    Securities regulators across the country - including Alberta's - are taking more cases of misconduct to court in an effort to respond to public demand for tougher sanctions, the CEO of the local commission says.
    "They wonder why they're not seeing jail sentences for people who have committed fraud," said Bill Rice, CEO of the Alberta Securities Commission and chairman of the national Canadian Securities Administrators (CSA). "It's more difficult to go through, the criminal courts, for a regulatory agency, but I think we're all feeling some pressure to demonstrate some stronger sanctions, particularly in respect to real fraud."
    In those cases, fifteen people were given jail terms - including Calgarian Robert John Sellars who, after being found guilty of lying to investors, received a two-year sentence and was ordered to pay restitution of almost $2 million.
    Rice said the ASC has decided it will be taking more cases before the provincial court.
    "We feel we're having some success in spotting things at an earlier stage and certainly success in pursuing them," Rice said, .....
    © Copyright (c) The Calgary Herald

    Despite this article and many complaints to the ASC and RCMP we still have had no signs by these two respective organizations that anything is being done. NOW IN MY OPINION, THAT'S A CRIME IN IT'S SELF!

  21. To Posting Monday May 16, 2011 10.09 AM

    Thank you for your comments.

    I know that Shariff and his cohorts read the blogs that is why you can tell him as it is because when you call the Platinum office, you do not get a response because he ignores you there, but can't here.

    I do agree there is power in numbers and unity.

    I am capable and willing to organize, however, due to physical disability, I am unable to proceed, hence, the reason for asking if anyone is willing to be proactive and organize the media.

  22. To Posting Monday May 16, 2011 10.09 AM

    Please email me at with your contact information.


  23. To Posting Monday May 16, 2011 10.09 AM

    I am still waiting for your email to organize. I am legit.

    I do not work for the Chandrans or any of his conspirators.

  24. To the comment on Friday, May 13, 2011 5:46:00 PM.

    Several months ago, I did similar research and learned that there were at least 2 Preapplication meetings set up with the City of Calgary for this property. One by Kellam Berg and another by the IBI group.

    I don't have a lot of personal experience in these types of matters but at the time of my research spoke with some acquantainces that did, and was told that the process to have the density increased is quite intense.

    I am not suggesting that the above comments are wrong, just thought I would share what I learned and that at the time I did feel comfortable that steps were being taken towards development.

  25. You are right city approval is a process that is lengthy and may well be in progress.

    The problem appears to be lack of information being supplied to the LP or information is not complete. To leave people in limbo for months on end is damaging

  26. I agree there, unfortuntately the "sky is falling" mentality is premature and doesn't usually lead to favourable results. I especially can't see it leading to favourable results in this circumstance.

  27. To Posting Tuesday May 17, 2011 11.30 AM

    So, why don't you go work for Platinum Equities and Shariff Chandran and then pass on the news to us. It is 3 years now and the Chandrans have withdrawn limited partners money via mortgages on the Greenwich. Why don't you explain this (what he did with the money and why was it not used on developing the Greenwich) to limited partners since you know so much!!! It is not only your money (if you invested at all) but lots of other people's money. This was entrusted to Platinum Equities and now it looks like embezzlement!!!

    So if you know so much why don't you provide complete and thorough accounts of the limited partners' money and what Chandrans did with it.

  28. There has to be a balance, a sit back wait stance is not healthy and leads to speculation and panic.

    Proper and regularly updated information is required with the truth in what is going to happen the LP's investment and what options do they have.

    If Platinum cannot or will not supply this information, then there has to be accountability for their actions.

  29. Because I already have a job. Thanks for the suggestion though.

    I am simply passing on some information and my opinion, I don't claim to know everything about the project.

    I should have known that respectfully sharing would lead to me getting verbally attacked.

  30. To Posting Tuesday May 17, 2011 1.10 PM

    If you want to wait 100 years for your principal back plus earnings, that is your business.

    Yes, it looks like the sky is falling when Shariff Chandran does not account for your money, refuses to answer questions or lies a lot to you. But most of all, PE limited partners do not get annual bond interest, debentures from White Rock or capital gains on their invested money.

  31. To Posting Tuesday May 17, 2011 1.10 PM

    Maybe he spent your money living the high life, being an epicurean, philanthropist and giving your money to his family and conspirators.

  32. Please share your plan of attack and exactly how this will lead to investors principal being returned?

    I just don't think this is a "stolen money" situation, I think it is more of a case of not properly communicating. Which still isn't good but is certainly not as bad.

  33. To Posting Tuesday May 17, 2011 2.02 PM

    Calling, "Earth to Mars", "Earth to Mars".

    Yeah, right! Which planet are you on?????

  34. To Posting Tuesday May 17, 2011 2.02 PM

    You are a very annoying and aggravating person and I shall refuse to listen anymore to you. Period.

  35. That is about what I expected. You are a person who pretends to be doing what you think is best, but can't explain why.

    I think you see this situation as an opportunity to throw a hissy fit.

  36. To Posting Tuesday May 17, 2011 3.03 PM

    I will not tell you anything anymore.

  37. It is difficult to estimate how long should be required for approval of a development permit as it depends on the quality of the application. The City of Calgary website has some good info in this regard.

    In a July 15/2009 letter, Chandran advised investors that discussions were underway with the City and that the development permit approval was expected in approx 6 months. They had some problems and missed the summer 2010 construction season.

    It is now almost 24 months since this process started and the City advised that a development permit applicaiton has NEVER been submitted. It is obvious that PE has been mis-leading us and that there is no chance that this project will start this summer. I now have no faith at all in PE and am tired of being lied to.

  38. How will I ever get by, without your words of wisdom?

  39. Please

    Let's not act this way. Everyone's opinion needs to be respected and valued, personal feeling aside.

    We need to appear as an organized and and united group to anyone that reads this blog.

    What message do you want to send to any media person who may be reading this, trying to make a decision as whether to investigate the allegations.

    One of an angry mob out for revenge or concerned investors not getting the treatment they deserve from their investor?

    This also detracts from other silent LP's who will now not speak up over fears of being insulted or disrespected.

    Stick together and unite, your beef is not with each other but with a common adversary. Strength in unity, respect from giving respect.

    Let's have some ideas on how to approach the situation and positive feedback that formulates into a plan.

  40. To Posting Tuesday May 17, 2011 4.27 PM

    Since Shariff Chandran is only using limited partners' money to accomplish his own goals because he cannot get financing from CIBC or other major banks, we, limited partners, should charge him penalties and interest for this.

  41. Platinum never said they were doing the development. They are doing the rezoning and providing servicing. I don't know why they would apply for a development permit, or why one would expect them to.

  42. To Posting Friday May 20, 2011 8.58 AM

    So, why did Shariff and Chitra Chandran mis-lead limited partners by selling their investments as developments at such a high price of $25,000 per unit. Re-zoning and servicing do not cost that much, a total of $17 million plus of investors' money.

    This is called "FRAUD".

  43. To Posting Friday May 20, 2011 8.58 AM

    Shariff and Chitra Chandran, please return limited partners' money principal plus earnings seeing as you all want to come out of your responsibilities to limited partners.

    We did not buy into rezoning and servicing.

  44. The Investment
    Platinum has commissioned Kellam Berg Engineering & Surveys Ltd. to prepare a
    conceptual scheme for Greenwich Park. The proposed scheme will include both multi-family
    and single-family housing. The property is currently approved for 3 estate lots per acre,
    however Platinum intends to increase the density to 5 or 6 lots per acre for single family which
    has been approved in nearby developments. Further Platinum plans to have a significant portion
    of the project designated as multi-family. Once the City has approved the new subdivision
    plans, Platinum intends to construct roads and provide servicing to each lot. In summary, this
    represents a rare opportunity for investors to own residentially zoned, undeveloped land in the
    City of Calgary and profit significantly by performing a rezoning and construction of

  45. As an investor in this project I am certainly dissapointed in the delays too.

    However I think we all need to get our facts straight before we jump to conclusions.

    It was never represented as a housing development.

  46. To All Greenwich Limited Partners

    You will get screwed by Shariff and Chitra Chandran as usual if you stay in the partnership.

    They are nothing but scummers.

  47. There is some confusion about the site development. PE hired a land planning firm to prepare the site plan and obtain a development permit from the City. PE would then hire a site developer to do the site improvements and sell the lots to contractors for housing development.

    This should be a successfull process. The problem is that it has been mis-managed by PE. PE originally hired Kellam Berg Planners to prepare the plan. PE fired them and hired Manu Chugh Architects. PE fired Chugh and hired the IBI Group to do the plan. PE fired IBI and now claims that it has hired Kellam Berg again.

    The net result is this development that should have been completed in 2010 will now be delayed until 2012 or later. The only positive in all of this is that Kellam Berg and IBI are reputable firms. Maybe PE is actually trying to proceed but doesn't have the skills to manage the project properly.

  48. In that case, limited partners should get out of PE because the general partner is only using limited partners money for his and his family benefits while stealing limited partners' earnings by hiring expensive lawyers. In the end it is the limited partners who lose out. Do not trust the Chandrans. The owners of the property, Greenwich Park are Shariff and Chitra Chandran with Riaz Mamdani holding all the mortgages against the Greenwich (land title registry records).Chandrans already took out limited partners' money and the only one to benefit again are the Chandrans after the development is either done or sold. So Limited Partners, you will lose again. We knew he was incapable of managing such a big project although he has an MBA. This MBA is only good for embezzlement, theft and scamming. In other words, the Chandrans are all scummy scammers.

  49. PE is only for using, embezzling and stealing investors money. Limited Partners, check your memoranda that you signed.

  50. To Posting Saturday May 28, 2011 12:21 PM

    Thank you for your input. Can you provide us with anymore information as to what we should do with other projects outstanding and what is your advice about what we should do about the Greenwich? Your input is invaluable.

    It sounds like Platinum Equities and the Chandrans do not want to develop the Greenwich as Shariff Chandran has already taken out $17 million of investors money from the project by taking out 3 mortgages and using the money for his own self and his family and trying to steal it from investors.

  51. To posting Sunday May 29 9:51 AM

    I am just begining to get involved with this project. The best advice is to volunteer to help the investor's committee for a project. Find out what they have already khow and how you can help. Also show that you can be trusted.

    Our major weaknesses is that there are so many PE projects and investors. Chandran is taking advantage of this situation and there are few challenges to his actions. We eventually need to have investors from each project work together to take action against PE. Our large numbers will then become an advantage if we start to more effectively use our skills, experience, contacts and resources.

  52. To Posting Friday May 20, 2011 3.12PM

    It is too late Shariff and Chitra Chandran. You make lousy partners!!!!!!

    We are divorcing you both!!!!!!

  53. 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

  54. As far as I remember, the project was designed to be a servicing project - PE will do the servicing, then sell to the builders as serviced lot. The cost on average is $40,000 per lot... the timeline, I was told, was 2-5 years...unless your sales guys said something different than mine.. I just called them about my other investment with them (I have 3 in total) and they are still answering the phone. So I am still breathing, but don't know for how much longer..

  55. To Posting Monday June 6 2011 11.53AM

    Shariff, this project was for development not servicing. Do not try to get out of you incompetence and incapability to manage this project.

    Just give us back our money plus earnings and we will release you after we go to court.

  56. If you could provide some sort of quote from the info package or Limited Partnership agreement saying this was intended as a housing development that would help your case.

    I am not defending anyone here, but I do remember it being presented as a servicing project and just went back and checked the info package and it is quite clearly stated there. Above on a May 20 posting is a quote from the info package.

  57. We don't give no f what is it. Just give us limited partners back our money plus earnings for the time that you used our money for your benefit and we will be gone. You took out $17 million of limited partners money and we deserve some interest at 10% plus bonus. We don't give no s about what you do with your own money, but with our hard earned money we do give a whole lot. You can piss around with your own money, but you are abusing us limited partners and our money. We deserve some compensation for what you have done to us.

  58. $80 or $81 million is nothing compared to what you stole from your limited partners, Shariff Chandran.

  59. Is there a group organized for this Project that one can join. I, along many of my friends have all invested in this project and now are very concerned and feel action must be taken to get at least some of our investments out

  60. Shariff is doing exactly what Concrete Equities tried to do. Restructure, obscure and run away with investors money. He has to be STOPPED like Concrete Equities before he runs off with Holzbren. LPs should also make it known to the world that investing with Shariff is a SCAM and in the end he will have the money and the LPs will not.

    All investors in Platinum Equities have to band together to fight for their investments. We know that if the LPs work together they can fight this corruption.

  61. I agree with you posting Aug 2nd..So why are you not taking the lead

  62. Some of the people who started with Concrete Equities learned the ropes of scamming investors from Shariff Chandran, Riaz Mamdani and Platinum Equities.

    All limited partners from all projects should band together to fight our adversaries, Shariff Chandran, Chitra Chandran and their conspirators, one of whom is Riaz Mamdani.

  63. calling for a leader here. Let's unite .. and protect our investment...

  64. I know a lawyer who does class action law suit. I will have him read the post here and let him investigate if there is a case here , if any LP is interested to talk to him as a liason person post your e-mail add. Lets unite and fight back.

  65. To Posting Saturday Sept 3, 2011 9.06 am

    and other interested limited partner victims who

    want to join our groups,

    put your email addresses on the blogs so we can contact you.

  66. i would like to join the group..

    Please email me so i can sign up..

    Thank God, Finally i can join a group , i lost my investment with PE but i put up a fight at least.

  67. Anonymous said...
    To Posting Saturday Sept 3, 2011 9.06 am
    and other interested limited partner victims who
    want to join our groups,
    put your email addresses on the blogs so we can contact you.
    Saturday, September 03, 2011 2:30:00 PM


  68. I would also like to join the group..

    Please call me asap @ 403-342-9309 so I can sign up..lve. a msge if not around and I will call you back. Thx.

  69. Please call me asap at 403-699-2560 tomorrow morning. OK.

  70. If you are interested in working towards a solution with other Greenwich Park investors please e-mail
    We require your name and whether you are a cash or RSP investor which will be verified before any information is shared.

  71. Update on City approval for the site development.

    I assume that PE posted the message on this blog on May 20, 2011 saying that a planning firm has been hired to prepare the outline plan of sub-division. Also in a letter dated June 8, 2011 to investors in the Barron Bldg Redux project, Chandran says that "we are currently finalyzing a rezoning application for Greenwich Park which we expect to be submitted prior to the end of June".

    I called the City Planning dept. There has been no activity on this site since two pre-application meetings in spring 2010. They have not even been contacted by any planning firm since that time. Therefore, nothing has been done in the last 1 1/2 years.

    This type of zoning application can require up to 12 months to review and approve after it is submitted. Therefore, this site has little or no chance of being developed in 2012.

  72. It is quite obvious that Shariff Chandran and Chitra Chandran never had any intention of developing the Greenwich.

    The offering memoranda for all projects were designed to steal from limited partner investors.

    Please go to the Alberta Securities Commission or the Securities Commission in your province to file a fraud complaint.

  73. Also, please go to the police located nearest to the office of Platinum Equities Inc. located at 906-12th Avenue SW, Calgary, AB to file a fraud complaint. Or to a police station closest to where you live.

    You can also complain to your MPs provincial and federal.

    You can also file a fraud complaint with the RCMP in your province.

  74. A recently completed land title search for the GP property uncovered more lies from Chandran.

    In his letter to GP investors dated March 22/2011, Chandran stated that there was a mis-understanding about the 3 mortgages of $10M, $4M and $2.1M (million) on the property and that the $10M mortgage would be removed. The truth is that all 3 mortgages (totalling $16.1 M) are still on the land title. These must be paid out before the investors receive any funds.

    In the same letter, Chandran advised that the dispute with IBI Site Planners had been settled.
    The truth is that IBI has placed a builder's lein on the property for $49,000 which shows that the dispute has not been settled.

    It is difficult to understand how any investor can continue to have any confidence in PE.

  75. To posting Thursday September 29, 2011 7.57 pm

    Why do you refuse to believe that
    Shariff Chandran and Chitra Chandran are not going to develop the Greenwich.

    If they were truly sincere about developing the Greenwich, the project would have been approved a long time ago by the City of Calgary.

    They are only out to steal limited partner investors' money.

  76. All the sales personnel for Platinum Equities in Calgary have been fired and the ones in Ontario will soon be fired one day too.

    They also sign a contract stating that if they open their mouths about Shariff Chandran and Chitra Chandran's fraudulent and deceptive actions on limited partners' investments, they will be sued for millions of dollars, that is why they will keep their mouths shut. Check out Philip Pincus, Geoff Filson, Steve Van Die, etc. who no longer work for Platinum.

    Platinum Equities is a fraudulent and deceptive organization run by the Chandran family with conspirators who help them.

  77. I am an investor of Platinum and I would like to join a group of investors to try and get my money back.
    Don Leibel

  78. In reply to the October 18th, 6:24 PM message.

    See the message dated Sept 24th - 4:30 PM for info on joining the GP Investors Group.

  79. I received a letter to contribute to legal fund, and if you are interested to view this letter please send me email:

  80. Anonymous said...

    To All Limited Partner Investors of Platinum Equities Inc.

    The Federal Government of Canada does not guarantee your RRSP and / or cash investment(s) in Platinum Equities Inc.

    This applies to all past and present Limited Partner Investors of Platinum Equities Inc.

    For additional information, please contact as soon as possible.
    Thursday, October 20, 2011 7:40:00 PM

  81. A major reason why there are so many of these investment scams in Alberta is because of the weak security regulations and lack of enforcement. However, if you follow the local newspapers, you will see that this is changing.

    The Alberta Securities Commission has investigated and ruled against Shire Investments, Rogers Oil, Wealthstreet, Concrete Equities and other firms this year.

    One thing that is still lacking in these cases is the punishment. These scammers don't care about fines as they pay them with the funds that they have stolen from investors. However, read the article on page B3 of today's Herald. The ASC has fined Nicholas Reeves and the RCMP is now charging him with fraud. He will be sentenced on Dec 5th. The sentence will be interesting as Reeves is charged with $500,000 fraud whereas Chandran has stolen $ millions from investors.

    It is just a matter or time before we are reading about Chandran in the newspapers.

  82. Let all limited partners of Platinum Equities Inc. unite to fight these crooks, Shariff Chandran, Riaz Mamdani and Chitra Chandran.

    Our email address is given to unite and fight.

  83. the email address is

  84. Riaz Mamdani is already charged with fraud, bad business practices and breach of fiduciary duties by the Superior Court of Los Angeles.

    I understand that Shariff Chandran also has criminal charge against him in Canada.

    Let's dig up some dirt which is their true characters.

  85. Well, you have to add up the parts,

    Dumb lps

    Shariff Chandran and Chitra Chandran always lying to limited partners or not disclosing their actions, thereby stealing from limited partners.

    Riaz Mamdani working with Chandrans to steal from the limited partners. Master Fraudster, lawyer.

    RCMP lacking in law enforcement against the big swindling criminals and only looking to catch the small criminal.

    but most of all you are right the limited partner investors must take responsibility for their own fate.

    Limited partners must smarten up and support their own cause.

  86. Finally jail time for investor fraud in Alberta. Read the article on the front page of the Nov 18th Herald. A Calgary lawyer - Murray Stark - was sentenced to 6 years in PRISON for "bilking investors of $37.5 million". The investors lost all of their money but the criminal ended up in jail. We may someday see this type of headline for Greenwich Park.

  87. We would rather see deaths to the contracts etc.

    No sense giving jail terms without getting your money, dinero, back.

    Jail terms are too easy for these crooks.

  88. send your emails to come together to

  89. More jail for fraud. Read the article "eight year sentence fo ponzi schemer" on page B1 of the Dec 2nd Calgary Herald. You can see it on-line if you search for this article title.

    Robert Fyn and Murray Stark of HMS Finanacial were found guilty of fraud totalling $37.5 million. A local lawyer Garth Bailiey was also involved. Fyn was sentenced to 8 years in prison. $4 M was recovered from a California trust account and will be distributed to investors who were involved in the class action lawsuit.

  90. maybe both?

    is it safe to say that after more than a year of lots of tough tslk, that this blog is a complete waste of time?

    1. it appears so... and i didn't get a reply from any of these investor groups ... no better than PE...

    2. Not sure why you have no reply from
      The investor steering committee has been communicating regularly with Greenwich investors.
      Perhaps try again?

    3. I wouldn't bother with these So called "investor groups" anyway.

  91. To All Limited Partners

    Greenwich Limited Partners received a letter from Shariff Chandran dated November 23, 2011.

    Shariff Chandran, the General Partner was supposed to have discharged the mortgage on December 15, 2011 that he and his sister, Chitra Chandran had taken against the Greenwich Park property in 2008 in the amount of $10,000,000. This mortgage was given to him by his friend, Riaz Mamdani. Shariff Chandran refused to pay a penny to date.

    Here is what he states in his letter to Limited Partners which again are all lies and deception.

    "The financing obtained for the Property is in relation to funds that were required in order to acquire the additional Lands for the project. In addition, funds were required for development and planning costs. Financing was placed on the Property by Thorburn Capital Corp. (owned by Strategic Group) which was set-up as a line of credit for a maximum amount of $10M dollars (the “LOC”). This LOC would allow us to acquire additional parcels of neighbouring property which would provide the Partnership some economies of scale. The LOC is structured as a wrap mortgage which is included in the LOC is a $6.1M mortgage granted by 1427926 Alberta Inc. (which was originally for an amount of $4M but later increased by an additional $2.1M). By simply referencing a copy of the title for the Lands, it would appear to an individual short of all the facts that there are three separate mortgages for $10M, $4M and $2.1M each. When in reality there is one aggregate loan for a maximum amount of $10M. We understand that the complexities involving wrap mortgages can lead to this type of confusion and hope this letter clarifies the situation for you.
    The general partner is in the process of discharging the LOC granted by Thorburn Capital Corp, we advise “the steering committee” of this information and the timing in order to complete this. Due to a number of ongoing litigation against Strategic we needed to be prepared to pay the required amount into court to obtain the discharge and continue with our litigation without losing our leverage in this situation. We are in the process of finalizing the contract with the JV Partner who would assist us in completing the rezoning and develop the land for sale. The JV partner is willing to execute the additional options we had to acquire additional adjacent parcels. We need to be sure it is a party that would be successful in completing the project and enable us to return capital and potential profit to the investors. There has been increased activity in the Aspen area in the first quarter of 2011 and renewed interest with this Property. Our goal is to complete this project.

    Should you have questions regarding the progress of this project, please contact office at 1-877-282- 2601 or


    Shariff Chandran

    910 – 906 12th Avenue SW, Calgary, AB T2R 1K7
    P: (403) 282-2601 F: (403) 210-3108"

    No one wants to work in a joint venture with scammers.

    Shariff and his sister, Chitra, stole Limited Partners money for their own use and refuse to pay back a penny. They have not even gotten the approval of the City of Calgary to develop the Greenwich Park Property. Riaz Mamdani wants to take our land. They are all thieves.

  92. Re blog Dec 8, 2011 6.56 PM

    Are you afraid and tired of hearing what is going to happen to you all, i.e. prison term of 150 years like Bernie Madoff and $200 million dollar fine?

  93. 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.

  94. I have done a concrete block work for Shariff Chandran and He never paid me!!!

  95. I have done a concrete block work for Shariff Chandran and He never paid me!!!

    my e-mail;

  96. 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:

  97. 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.

  98. after reading this blog i have a few comments i hope are taken into account, im invested with this project for $80000. i also lost $10000 in a prior project under shire realestate so i have some perspective on this issue.
    here's my advice, pick your aliances smarter. who are your friends in this. my alliance is with the entity who will get me my money back. not justice for criminal wrong doing. who cares if platinum's agents are crooked, lawyers are crooks and the alberta securites are crooks as well. when lawyers get done with bilking what money we have left the ASC is going to extort platinum for a half million or so and bankrupt the project. and the banks and financing companies are first in line to collect whatever is left ahead of me.
    its illogical to bring legal action. it works against completing this project.
    let me refraise this.
    THE LAWYERS WILL PROMISE YOU THE SKY! (WORKING ON RETAINER) AND PRODUCE NOTHING! (if you dont believe me ask why they wont work probono)
    These entities have horrible track records, they may provide justice, if justice means a court document acknowledging wrong doing, but i am not seeking that, i want my money back,
    im afraid that anger, desperation, has left us grasping at straws, the desire for investore justice is like an injured fish in shark invested waters, make no mistake that lawyers and beurocrats are wolves in sheeps clothing! acting as defenders in this process. but they both have conflicted interest, And they already know how this usually turns out for investors, i went down the same road in another project and the court of queens bench is not the route to take, or to say this a different way, JUSTICE AND OUR INVESTMENT BEING RETURNED ARE 2 SEPERATE ISSUES? THEY ARE NOT ONE AND THE SAME,

    agreeing with sharif or chitras moral compass is irrelevent, they are your only hope for getting your investment returned, and if you cant see that, than you just talked your way out of your own money, and mine,


    1. if you just read the above comment and your thinking what i said wont happen in this class action, that the investor group and legal team have convinced you and are optomistic about litigation ect..... that's how i felt after i paid my retainer to the lawyer last time. and shires investor action leader became very politically active, including talking on rutherford, lobbying senators, and going to ottawas parliament to enact changes, DIDNT MATTER, the lawyers and the asc got everything. they are smarter than you they invented and inforce system, they know it better than you do,
      it finally woke up and i realized that the reason i was believing that litigation will work is because i am biased(i just paid a retainer) and i didnt want to believe that i just got taken a second time,

    2. Thank you very much Lindsay for opening our eyes to the corruption of Chandrans, Mamdani and their conspirators!!!!

      We know who we are dealing with!!!

    3. Lindsay, you are absolutely right.

      Alberta Securities Commission will take limited partners' money, not Chandran's, not Mamdani's, but investors' money.

      Lawyers aka sophisticated crooks, too, will be or are taking limited partners' money.

      Chandran and Mamdani already have our money.

      We, limited partners, must unite and fight these corrupted thieves and crooks!!!

      Contact Let us unite and fight these corrupted white collar criminals!

    4. I agree, I don’t believe throwing more money to retain lawyer to enrich themselves. You said it right: THE LAWYERS WILL PROMISE YOU THE SKY! (WORKING ON RETAINER) AND PRODUCE NOTHING! Yes, why won't work probono?

    5. This reply is from one of these crooks, Riaz Mamdani, Chitra Chandran or Sri Chandran.

  99. Does anyone considered the option of voting out the GP, who is PE, and replace them with somebody/some company that is willing to manage the investment? Along this person a lawyer and an accountant will be needed to make sure everything is accounted for and anyone who is accountable for fraudulent activities is identified. In my opinion the best thing to do is to wind up the company(ies) and try to return the principal to investors.

  100. Is there a person or phone number I can contact to who is on the steering committeee for greenwhich land? I am an investor and would like to join
    /please help.

  101. Get your facts straight!

    Chitra Chandran, Sri Chandran and Riaz Mamdani and their

    conspirators are greedy parasites and criminals, not limited


  102. The owners and conspirators of Platinum Equities fraud will

    end up in jail!!!

  103. To blog of Friday May 18, 2012 640 PM

    You and your friends are the greedy parasites.

    You and your friends will end up in JAIL!

  104. To blog of Friday May 18, 2012 640 PM

    Give back all LIMITED PARTNERS (of Platinum Equities Inc.)

    their money or else you and your friends will GO TO JAIL!!!


  105. To:Bahahaha blogger of Friday May 18,2012 640 PM

    We will have the cops pick up you up with sirens

    going, put you in handcuffs, take your mug shot

    and throw you in jail for a long time!!!

  106. To Bahahaha blogger Friday May 18,2012 640PM

    You and your conspirators are the crooked, greedy, criminal


  107. We will make sure the Bahahaha blogger gets to jail.

    He got away before but not the next time, you creep!!!

  108. Does anyone have any current information? I phoned their 1 877 608 2828 number last week and left a message. I missed their return message but a lady named Jeaneen sp? wanted my email address to send me an update. Still no email.
    Who is the attorneys that are handling the law suit?

  109. Strategic has foreclosed on the property.

    1. Rest of sentence is missing:
      and you and others have lost all of the money you invested-$20 million+!

  110. Pls. sign and send, the letter as bellow to the Office of the Mayor, The City of Calgary:
    Office of the Mayor, The City of Calgary
    P.O. Box 2100, Station M
    Calgary, AB, T2P 2M5

    Subject: Calgary, A great place to work, stay and do business.
    Dear Naheed Nenshi,
    With reference to the above subject, we the undersigned also have shared in the past the same sentiments which you yourself promote in the newspapers and television.
    Our attraction to Calgary was in land investments. The person heading the company that solicited business from Canadians in various provinces is known as Shariff Chandran, who operates companies which we know of, as Platinum Lands, Platinum Equities, Accolade Lands, Accolade Equities, Platinum Lands Corp and Holzbren Corp. Two projects that are causing us serious concerns are known as Greenwich and Accolade Lands.
    From sources in the Internet, we have ascertained that Shariff Chandran is fraudulently marketing properties, on behalf of the above companies, through his network channels to unsuspecting Canadians like ourselves.. Properties that we have purchased through his company are highly leveraged to another company, The Strategic Group headed by Riaz Mamdani.
    Mr. Chandran and/or his companies default on the mortgages/loan resulting in the foreclosure of the properties by Riaz Mamdani and The Strategic Group. This seems to be the business model employed by Mr. Chandran. Hardworking Canadians across the country are now at a loss of millions of dollars. It is known that Mr. Chandran had utilized the funds for personal and other unrelated business purposes..
    We look to you as the mayor of Calgary, where these lands are based, to assist us in recovering our invested dollars. We will have no hesitation in pursuing this matter with the RCMP, Revenue Canada and other legal avenues. We will also communicate Chandra’s chicaneries to the media, the result of which would, no doubt, tarnish the image of Calgary, and such news will surely influence potential investors to reconsider Calgary as a place in which to do business.

    1. Yes, we will forward this letter with our signatures to the Mayor of Calgary and we will pass this on to others, even non-investors, who would not want to visit nor invest in Calgary because of Chitra Chandran, Sri Chandran and Riaz Mamdani.

    2. We will never do business with Calgary people. Too much fraud in Calgary.

    3. What with fraudsters, Riaz Mamdani, Shariff Chandran and Chitra Chandran around, there are better places to do business than Calgary and Edmonton.

    4. Please add to your letter that we will seek jail terms for these fraudsters.

  111. You can also send a similar letter to the Edmonton Mayor,

    Mayor Stephen Mandel
    Office of the Mayor
    2nd Floor, City Hall
    1 Sir Winston Churchill Square
    Edmonton, AB
    T5J 2R7

  112. Seems like it's the same bitter idiot posting again and again on this site. Call the cops. Write the mayor. Everyone's a fraudster...

    It's irrational people like you who have made it impossible to have a constructive dialogue on this site and help organize fellow investors. No one wants to be associated with angry incoherent individuals who will only detract from our argument. You've put so many people off and ruined any true chance this site had at bringing everyone together and organizing us.

    Getting lawyers involved now is a waste of time. The money is gone and the property is too...I spent $4,000 to get a legal opinion from BDP and spoke to the RCMP. There's pretty much no recourse at this point.

    It's funny how everyone thought Shariff was a genius when Platinum was paying 60% cash on cash, but they're surprised now when it's clear that it was all just a ponzi scheme.

    He got us hooked with fantastic early returns, and then hung us out to dry at the first opportunity and just blamed it all on the economy and on the sharks HE chose to borrow from in the first place.

    I'm done with this site. I'm tired of chasing losses. I invested in good legal advice and I contacted the right people, but it's time to move on. These crooks already took my money. I'm not going to let them waste any more of my time and energy or keep me away from my family any longer. Shariff appealed to my greed and then screwed me straight up. I get it - it's just business. But what goes around comes around, and knowing Shariff the money will be gone sooner than later.

  113. Does anyone know what is going on with the Ethican building?

    1. Mamdani foreclosed, took ownership and the building was sold.


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