It’s been some time since there has been anything to say. Still very little to report. We are still collecting names if you are interested. A list of over 50 investors was submitted to the RCMP in Calgary fraud squad last week by one of the investors there in hopes of getting something going again.
For those of you who are not aware, York Rio Resources is back in front of the Ontario Securities Commission this March 3rd. I am sure it will lead to another extension as per the usual delays.
Under a recovery room scheme, investors are promised that a company will buy their worthless or low-value shares at an inflated prices, but only if the investors first pay a fee. The unscrupulous companies pocket the fee but do not buy back the shares.
Both the Manitoba and B.C. authorities allege that an organization called Penn Capital Management Ltd. has contacted investors in York-Rio to repurchase their shares at an inflated price for a fee.
On Sept. 25, the Saskatchewan Financial Services Commission issued temporary cease trade orders to The Castleton Group, Beltway M&A, Joshua Stevens, Patrick Thompson, Vick Newman, Daniel Greco and Jim Young for allegedly contacting TLC Explorations Inc. investors with the same kind of offer.
If you have any news please let us know.
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9 comments:
Unfortunately , as usual, the OSC has again shot itself in the foot:written correspondence from the OSC has already acknowledged that some monies have gone into the mining project.THEN after having sent that out they turn around and say the "PRIMARY" business of York-Rio was to raise monies. It is obvious that York-Rio raised monies and invested same into the Brazil project even to the OSC. Go figure!
I couldnt agree more--The sales people worked for the consulting company not york-rio.
the consulting companies had no interest in perpertuating any fraud. BUt they were "unlicensed".
Tch tch.
Here is some good info for those in the dark. Just copy and paste link below into your browser.
http://www.osc.gov.on.ca/documents/en/Proceedings-SOA/soa_20100302_york-rio.pdf
I was contacted on January 5th (evening) about selling my shares in York Rio in exchange for $10,000 and 130 shares in Apple computers. Sounds like another scam.
http://www.osc.gov.on.ca/
Go to the above link, enter the Ontario Commissions Site, and do a search on York Rio Resources.
All of the documents pertaining to their charges, and current state of them, is all accessible there.
I wonder where you can get on a list to get paid the wasted money that these guys have taken from us.
Can anyone out there in cyberspace post information on this blog on what Wayne Vanderlaan may have told them about specific details of the OSC investigation?
Hey, you out there in Cyberspace,wake up and listen up, you hear?!! The OSC is holding a hearing to finally answer the ultimate question: "Was York Rio a Scam or Not?". Huh? Was there any doubt?
One of the "alleged" ringleaders is sorta kinda blaming the investors for listening to all the salestalk, when they said in the agreement that they wouldn't listen to any such claptrap.
Does anyone out there have any update on the status of York Rio and what has happened with any of the secutities commissions in BC, Ontario or any other province for that matter?
http://www.osc.gov.on.ca/en/Proceedings_rad_20111222_yorkrio.htm
above is a link to the OSC motion. I am no lawyer but it appears to me that they got away with taking our money. I do not see anything about getting our money back.
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