The following documents are posted to BU in the interest of the public of Barbados. […]The government of Barbados ought to be ashamed, very ashamed. The media in Barbados ought to be very ashamed they have not called for the resignation of the Fruendel Stuart government. Let us demand accountability from the government, NOW! Power…
The following documents are posted to BU in the interest of the public of Barbados. […]The government of Barbados ought to be ashamed, very ashamed. The media in Barbados ought to be very ashamed they have not called for the resignation of the Fruendel Stuart government. Let us demand accountability from the government, NOW!
This not about whether this crazy woman is Canadian or not this is about individuals who makes their living from fraud and deceptions.
The Cahill energy scam is a terrible deal for the people of Barbados and from its inception has sucked people and companies in to a web of lies and fraud
And sad to say two + years on its still costing money and reputations to be destroyed.
To ME Clare Cowan.
Have made a number to attempts to contact Cahill
For an update on the Barbados project
UN able to make contact……
Could you post an up date from you’re perspective for the people of the island please
Email the request and provide our email address.
It was amusing to listen to some of the debate in the Senate yesterday. Many of the responses/explanations given by the government side should have come from Lowe first to fill the vacuum of info around the Cahill project. He remains silent and they wonder why Barbadians continue to ask questions.
Sent the email request!!!! Let’s see what happens.
Got through to Cahill
Was greeted by “Clare Cowan”
I asked for an update on barbados and got.
” F**k off and leave me alone ”
Not the words I expected from a CEO.
MECC’s condo remains on the market
https://www.realtor.ca/Residential/Single-Family/16161754/4803—50-YORKVILLE-AVE-Toronto-Ontario-M4W0A3-Annex
However, there has been action in that building.
Unit 4403 (hers is 4803) of almost identical layout and size (taxes + maint fee etc), sold 26/2/2016 for $6,000,000 on an asking of $6,280,000.
Earlier in Jan 2016, unit 4003, similar in size, sold quickly for $5,450,000 on an ask of $5,798,000.
Both sales were listed by Kalles, the same realtor handling #4803. So they have fish, they just aren’t biting on MECC’s.
@NorthernObserver
Do you think the publicity here and elsewhere is the reason?
David
I have seen nothing in the Toronto media about Cahill or MECC, so it is unlikely potential buyers have any knowledge of her Barbados venture unless their lawyers have done background searches.
More likely it is the Power of Sale action by the second mortgagee, Ridgemount FS Inc, to recover its $1,500,000 plus interest and legals that is holding up the sale,
Redfactor/Northern, may be time to send some links to the Star or Globe
I agree with DD on condo.
As far as Cdn media, why? The story which is apt to come out is Barbadian govt ministers are a) crooked or b) conned into large industrial project by a company from Guernsey.
Northern
You are correct.
Best to Let what happens in Bim stay in Bim.
Would not want the world to think that Barbadian govt ministers are a) crooked or b) conned into large industrial project by a company from Guernsey.
Bim needs those international investors.
David
An update of yours of December 30, 2015 at 6:56 PM
https://secure.globeadvisor.com/servlet/ArticleNews/story/gam/20160127/RBSWJACOB
News from globeandmail.com
Turmoil marred Jacob Securities’ final months
Wednesday, January 27, 2016
NIALL McGEE
Streetwise
The final months of life for Jacob Securities Inc. were marred by capital deficiencies, compliance violations, a senior executive’s abrupt exit and employees being locked out of the office, according to documents released Tuesday.
Amid the pandemonium, the Toronto-based broker dealer was still trying to raise money for a new fund, say documents from the Investment Industry Regulatory Organization of Canada (IIROC). On Dec. 18, IIROC announced it had suspended Jacob Securities’ membership, which effectively put the dealer out of business.
“We disagree with both the characterizations and the outcome of the report, and we are weighing our options,” Sasha Jacob, founder and chief executive officer of Jacob Securities, said in an interview.
According to the report from the IIROC hearing panel, Jacob Securities had been on the regulator’s radar as far back as May, 2013, when it was flagged for “low risk-adjusted capital.”
IIROC-registered dealers must maintain a minimum amount of capital. If levels drop below minimum values, the regulator has the right to suspend the firm’s membership. Red flags also went up in 2013 about the firm’s liquidity and lack of profitability.
Over time, IIROC also cited the firm for compliance violations including insufficient supervision of trading.
By November, 2015, the firm was unable to correct its capital deficiency, IIROC said. As recently as Nov. 10, Jacob was raising money from investors to start a new marijuana fund. IIROC said the fund was set up “without requisite registration approvals.”
The regulator also said Jacob named an auditor for the new fund, but that auditor then alleged that it had “not been engaged for the offering.” The “risk of imminent harm” to investors eventually forced IIROC’s hand.
Mr. Jacob said the firm had a plan in place “for an immediate capital injection,” including “a firm term sheet.”
“Were it not for the suspension, we would have closed that financing,” he said.
He said the capital he had raised would have been more than enough to go above the minimum regulated requirement.
On the laundry list of compliance citations, he said: “We did present to IIROC a concrete plan to institute new compliance measures.”
In December, 2015, before its IIROC membership was suspended, Jacob Securities notified the regulator that its chief financial officer was resigning. Later, the company’s chief compliance officer advised IIROC that employees were “locked out of its business premises due to its failure to pay rent of approximately $110,000.”
IIROC says that following the lockout, “apparently, unsupervised trading continued by JSI’s registered representatives through their mobile phones and by meeting with clients in the lobby of the building.”
So, now that Jacob has gone up in smoke “raising money from investors to start a new marijuana fund”, who is likely to pick up where they left off in trying to find investors to start the Cahill WTE.
It is time for Lowe Down, and Sinkler, and FS and the rest to accept that it ain’t going to happen.
I think that was accepted a long time ago!!!
Northern
Accepted by whom?
Govt standing on Cahill project
10 February 2016
http://www.nationnews.com/nationnews/news/77690/govt-standing-cahill-project
THE MOVEMENT TOWARDS plasma gasification is hanging in the balance following a decision by a major global developer of the technology to abandon a billion-dollar plant in which it had invested in England.
http://www.nationnews.com/nationnews/news/79799/plasma-blow#sthash.H98e5cXd.dpuf
@Hants
The Nation is late to the part don’t you think?
Better late than never though.
>
@ Due Diligence
What else can Lowe say…?
The problem with taking bribes ‘up front’ is that”wuh sweeten goat mout does bun he tail….”
Where, pray tell, would you expect the gentleman to source funds to reimburse ‘disappointed investors’….. unless of course the siblings were to withdraw claims to the old lady’s legacy…..
“Also in the second quarter, Air Products said that expects to record a pre-tax charge in the range of $900 million to $1.0 billion in discontinued operations, primarily to write down assets associated with the Energy from Waste business to their current realisable value.”
Wunna still gine bil a wte plant?
Hants April 6, 2016 at 11:54 AM #
Wunna still gine bil a wte plant?
MECC got no money.
Jacobs securities gone up in smoke.
So Cahill WTE plant not gonna happen.
BUT – GOOD NEWS!!!
Barbados’ new best friend is GUNG HO to build WTE plants.
See – This Massive Waste-To-Energy Plant Will Be The Largest In The World at:
And they got the money.
This Massive Waste-To-Energy Plant Will Be The Largest In The World
Stretching nearly a mile across and complete with a visitor’s center, the new incinerator will tackle China’s growing trash problem.
Just imagine – A visitor’s centre – One of those on Mount Hilaby cold be a new tourist attraction for Barbados
Gotta think outside the box
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