Article: Stunning Confessions of a Short Seller

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Stunning Confessions of a Short Seller
Michelle Celarier, 22 June 2021

Anonymous short activist Rota Fortunae profited from put options on Farmland Partners — and now admits the relevant report he authored was riddled with errors.

The proliferation of short activist research in recent years has raised red flags about some of the originality, accuracy, and depth of these works — especially when combined with put options that are timed to coincide with the publication of reports that might send the stocks into a tailspin.

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Article: Former Canadian Gaming Minister Tap Dances in Money-laundering Investigation

Article - Media, Publications

Former Canadian Gaming Minister Tap Dances in Money-laundering Investigation

Erik Gibbs, 17 May 2021

As British Columbia (BC), more than a decade later, still tries to get to the bottom of a massive casino money-laundering saga, it seems that there are more questions than answers being raised. The government-led inquiry, dubbed the Cullen Commission, into how hundreds of millions of dollars could have been allegedly laundered right under regulators’ and casino executives’ noses without their knowledge has shed light on a series of failures in the industry. However, it isn’t any closer to wrapping up. It might not be for some time to come, as certain people involved at the highest levels allegedly have a difficult time providing accurate and consistent stories. One of these is Rich Coleman, a former BC gaming minister, who seems to have trouble sticking to his story. Continue reading “Article: Former Canadian Gaming Minister Tap Dances in Money-laundering Investigation”

Article: Former gaming minister agrees ‘unfair’ to cop who said ‘something stinky’ at casinos

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Former gaming minister agrees ‘unfair’ to cop who said ‘something stinky’ at casinos

Canadian Press, 14 May 2021

VANCOUVER — British Columbia’s former gaming minister said comments he made more than a decade ago about a top-ranking financial crime investigator’s concerns about “something stinky” going on at provincial casinos were not fair.

Rich Coleman was recalled to testify Friday at the public inquiry into money laundering to face more questions about statements he made in January 2011, disputing media comments by former RCMP inspector Barry Baxter. “I probably got too broad in saying that,” said Coleman, who is the inquiry’s last witness. “I probably went a little too far out with my answer. It may have been unfair.” Continue reading “Article: Former gaming minister agrees ‘unfair’ to cop who said ‘something stinky’ at casinos”

Article: Developer Can’t Revive Lloyds Suit Over Misselling Review

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Developer Can’t Revive Lloyds Suit Over Misselling Review

Paige Long, 16 April 2021

An English appeals court ruled on Friday that a property investor cannot sue Lloyds Banking Group over its conduct during a review of interest rate hedging products bought in the mid-2000s because his complaint was invalid.

The Court of Appeal upheld a decision from July that threw out the lawsuit brought by Clive Davis against Lloyds Bank. The higher court ruled that the property investor’s grievances did not comply with the regulatory definition of “complaint” in the Financial Conduct Authority’s dispute resolution rules. Continue reading “Article: Developer Can’t Revive Lloyds Suit Over Misselling Review”

Article: Rich Coleman’s dismissal of money laundering warning was baseless: Mountie

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Rich Coleman’s dismissal of money laundering warning was baseless: Mountie

Graeme Wood, 09 April 2021

RCMP’s failure to earmark adequate resources against financial crime was compounded by government officials downplaying problem, inquiry hears.

The senior Mountie in charge of a B.C. money laundering unit in January 2011 says he was “taken aback” by then minister of public safety and solicitor general Rich Coleman’s dismissal of his assessment of money laundering activity in government-regulated casinos. Continue reading “Article: Rich Coleman’s dismissal of money laundering warning was baseless: Mountie”