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

Platinum Mortgage Investment Corp 2


  1. Has any one received dividend payments last year,
    if yes how many times???? or received redemptions

  2. Platinum Investment Trust is nothing but a scam to use your money for mortgages, with a promise of high interest returns.

    Now, it appears that high returns are too good to be true.

    Where is all our money, millions of dollars,going?

    Well, they live high on the hog, hire expensive lawyers, spend luxuriously.

    Shariff Chandran said he is epicurean and philanthropist.

  3. This seem to be a ponzie scheme, perhaps this could be a case of for the RCMP??

  4. YES! I agree totally!

    It is a Ponzi scheme and should be scrutinized by the RCMP!

  5. I will make a call to the RCMP and post a reply on Monday

  6. Those investors who feel their PMIC funds are at risk and that their investments are being mis-managed need to take immediate action to freeze the accounts related to PMIC 2 and to have a thorough investigation of the financial statements. If you follow the concerns of 1111-11th Ave, Dominion Place and Sunpark/Pemberton the you must realize the potential problems at Platinum Equities probably affect all or most of their current projects. The time for action is now. Anxiously awaiting the post from the party who is planning to contact the RCMP.

  7. I have notified the Commercial crime division of the calgary police Dept today, I have been told that it will take a day or 2 for the police crimes department to call me back, I have also been told to have proof of a crimes related issue, e.g statements, emails etc..... I do have misleading statements that interest payments where deposited in my account that never occurred, misleading emails etc. will keep you all posted

  8. Please let us know if you need supporting documentation from other investors. As you are aware Dominion and Sunpark/Pemberton have begun to organize their investors to act collectively in determining the status of their investments and to take appropriate action. I believe it is time for PMIC 2 investors to do the same thing. Please post your thoughts.

  9. I did get a call from the police crimes dept to day, I will have to make a statement and show documents, statements, emails conversation etc. and why we think there is a case,and a officer will review the information and will see if there is a case that should be looked at either by the police or RCMP Dept.
    I,M planning to have this done in the next 3-4 days or so, will keep you informed

  10. deerfoot court investment , they asked us additional 10000 which does not show up in our statement. weird. any deerfoot court investor please post here.

  11. hi i am one of the investor in deerfoot court, i would like to get in touch with other investor. please e-mail me at


  12. 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

  13. Hi , i'm in. How can i join you guys. How can we get in touch with other investors in deerfoot court. please help. e-mail me

  14. Guys , what happen if platinum equities employees reading our post here and spying on us. is this will be a threat to our plan.

  15. Our only plan is to get an honest and accurate accounting of our investments. We have nothing to hide. If Platinum employees are reading this blog, and have nothing to hide, they will call General meetings, conduct the audits which Mr. Chandran has suggested and communicate openly and respectfully with all investors. By taking these actions the need for "clandestine communications" will be eliminated.

  16. 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.

  17. 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

  18. To All Platinum Mortgage Limited Partners

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

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

  19. 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

  20. 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

  21. Platinum is in alot of financial problems, no dividends or any sort of profit is being shared amongst the investors. People working there are bunch of crap having not enough professional and educational backgrounds.

  22. Platinum has not raised funds in 3 years. The intent is to dissolve the company very soon and resume working under the Holzbren Capital name.

    They are devaluing Platinum and anyone who has a lawsuit against them is going to be left with empty coffers to try and collect from.

    Shariff will carry on under different names and companies until he is effectively dealt with....

    Looks like investors are in for a royal screwing that is calculated and intentional. Shariff is poor money manager and loves the risk too much to care about anyone but himself.

    When using other people's money with no repercussions, it is very easy to make risky ventures. He needs to pay the piper AND BE EXPOSED FOR WHAT HE IS.

  23. Thanks for the reminders, however, we need ACTION from limited partners of all projects, not fence sitters and snitches. We all know Shariff Chandran is nothing but SCUM. Let's get together for a plan for forensic audits. That will help limited partners see how much he stole from us.

  24. Shariff Chandran has stolen so many millions from under the noses of limited partners that he does not care if Platinum Equities Inc. exists or not. Picture this! He has the money in his pockets which are overflowing, while limited partners' pockets are empty. We wish we can draw a picture of this so those who read but cannot digest information can see this picture. They cannot formulate ideas from words. We guess they need a thud on the head to come around.

  25. Can anyone post who's group initiated a lawsuit , i would like to join them...

  26. To Posting Tuesday July 19, 2011 4.26 PM

    What is your cellphone # and or email address to contact you?

  27. Regarding Platinum Equities Mortgage Investment, the interest rate being sold to limited partners was ridiculously obscene that anyone who had any sense would want to buy into it.

    That is why we knew that PMIC was a trap.

    As the saying goes, if it is too good to be true, then it probably is.

    Translation, don't invest in lies (Shariff Chandran's).

  28. i would like to join groups that initiated class action law suit.

  29. 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.

  30. Does anyone know their home address?

    1. they have stolen the money from Dominion and Pemberton - what can we do?

  31. Has anyone contacted the Alberta Securities Commission yet? What is the status of the lawsuit?

  32. The lawsuit was filed earlier this week. Expect things to get messy.

  33. has anyone contacted the police - these guys belong in jail


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