Investigative Team & Updates the research of Class Action Law Suits
A great deal of research was undertaken with regards to class action law suits for the Fortress syndicated mortgage investors. The Investigative Team was comprised of the following professionals:
• Darryl Levitt (lawyer; Darryl Levitt Law)
• Dave Oswald (forensic accountant, Forensic Restitution)
• Bruce Livesey (private investigator; i20 Research Inc.)
Rose Ray, a broker, worked tirelessly with this team in its effort to pursue a class action law suit that would benefit the victims. Here are the updates we were provided by Rose and the team. Although it is unfortunate that a class action law suit did not come to fruition, we thank Rose and the team for their incredible efforts and countless of hours in their work to try to bring justice to the syndicated mortgage victims.
Updates from Rose Ray (2019-2022)
Video dated Nov 29, 2019
An anonymous investor has contributed $50,000 to help fund this investigation to help bring the research to the next level. Our ask is for the Fortress investors to contribute $100 (or an amount they can afford) to help reimburse the investor's generous contribution.
Click here to view video.
Click here to read Darryl Levitt's letter to investors.
Note: Contribution form has since been updated - see April 22, 2021 update.
Video dated Feb 3, 2020.
Click here to view video.
Summary: Reminder to investors to save their documents pertaining to their investments in case the team requires the files. Promissory note holders to contact Rose as well as they will be addressed separately from SML investors; as well as investors who were "transferred" from one project to another knowingly or unknowingly. Promotional materials, recordings of events would be appreciated as well for the projects listed in the above paragraph.
Video dated March 11, 2020.
Click here to view video.
Investigative work is ongoing. Rose requesting investors to write to FAAN (details in video.)
(Note: This ask is no longer required)
Video dated April l, 2020.
Click here to view video.
Summary: Key Parties identified; Fortress, Project owners/corporations/key personnel; Auditors, Trustees, Developers, Appraisers & evaluators, agents, brokers & law firms.1st two projects of interest to pursue initially: Sky City & Colliers. Investigative reports have been compiled; Investigative Team is in discussion with law firms and litigation funders.
Video dated May 17, 2020.
Click here to view video.
Summary: Update from Rose on Funding. Approximately $14,000 has been contributed from investors to date.
Videos dated April 12, 2021
-
Video regarding law firm Groia & Company. Click here to watch the video & here to read the statement of claim regarding BRAD J. LAMB REALTY INC., BRAD J. LAMB, and LAMB DEV. Please ensure you read the statement of claim to see whether your project is included.
-
Video regarding lawyers Mitchell Wine & Margaret Waddell. Click here to watch the video. Please refer to this page for further information on the class action law suits & statements of claim regarding the following projects: The Orchard, Progress Manors (Ten 88); Sutton; Colliers; Harmony Simcoe.
April 22, 2021
There has been a lot of excitement regarding the mew class action law suit announcements pertaining to the law suits led by Groia & Company law firm and the Mitchell Wine & Margaret Waddell team. The investigative team lead by Darryl Levitt has been working very diligently to help us.
June 6, 2022
Update from Rose Ray regarding Brad Lamb Class Action Law Suit.
"I wanted to bring everyone up to speed on the status of the class action we have been working on for the past 2yrs.
As you know, a law firm by the name of Groia had filed a Statement of Claim about a year ago for a class action lawsuit against Brad Lamb. Unfortunately Groia was not able to continue with the law suit as they could not find funders to commit to funding the law suit. As soon as we were informed of this news, Corinne and I communicated with another law firm in the hopes they would take on the law suit. Unfortunately after carefully reviewing the files and information, they declined as well. At this point, neither can pursue this lawsuit. ALL lawyers agree that fraud has taken place, no one disputes that. The issue is Legally do they have enough evidence that proves Brad Lamb KNEW that investors were mislead and what is his direct liability, unfortunately the opinion is that we don’t have enough evidence. Even though we have provided hundreds of documents, videos etc.. there is not enough certainty that our case will win. This means the risk and the cost are just too high for a funder and for a law firm to take on. Remember if a law firm loses, they have to pay all the costs of the other law firm, and we are talking about millions of dollars for this type of case.
This is not the news we wanted to deliver to you. We have invested countless hours pursuing a way to get funds back to investors. However, we have exhausted all avenues for a class action lawsuit. Thank you to all that were willing to assist by providing files etc.
The investor who provided the initial funds for all the work that was done, is still out an additional $18,100. To all those who contributed to reimbursing – THANK YOU. It is unfortunate that more investors did not contribute, since this investor took a huge risk to try and find justice for all of us, it would be a nominal amount if all contributed. The news we have received is an additional blow for sure to this investor. If any of you have not contributed , and would be willing to help alleviate the financial burden for this investor, you may send an e-transfer to info@vosmi.ca. Any amount would be appreciated. ($20-$100). Other payment arrangements are accepted such as a cheque or PayPal ."