The Rainbow Scam Report
Alberta Based Financial Services Scams
(403) 245-0533 / (403) 651-9049
As far as we can tell, there are no solid regulations, or licensing requirements for anyone in Alberta to be a mortgage broker, or an independent person arranging financing.
Typically the fraudulent ones here offer services in the $2,000-$5,000 cost range, to arrange for business financing, business plan services, etc.
Often these people advertise in smaller newspapers such as community newspapers. They will often state they can arrange such financing, and then the customer pays the money, and they are never heard from again. Incredibly, some of the more notorious ones have been doing this kind of thing for decades!
All Rainbow Investigations can suggest here, is that if you are interested in using the services of a person who calls himself or herself a mortgage broker, get references, references, and more references…
Rainbow Investigations Financial Services Stories
Hamilton Real Estate Broker Fined For Not Tracking Finances
Under statutes to prevent money laundering and terrorist financing, brokerage fails to account for revenue...
March 05, 2010
Phoney Loan Broker From Calgary Jailed 18 Months
For the second time in 4 days, another Calgary women is jailed for financial fraud...
September 22, 2008
Phoney Female Loan Broker Finally Convicted
One of Alberta's most notorious scam artists is closer to getting her due...
April 30, 2008
Sherwood Park Entrepreneur Out Of Securities Trading For 10 Years
For the 2nd time in 3 years, Pat Cochrane disciplined by Alberta Securities Commission...
March 22, 2008
Alberta Securities Suspends Unlicensed Broker
Mr. Little was found to have actively solicited indiviuals to purchase securities in private placements…
September 22, 2000
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