Keystone Business Park: CBI Group

Post#243 by Guest Aug. 01, 2017, 08:54PM

Any more information on Arizona Acquisition Fund? Email contacts are now gone.

Post#225 by Guest Feb. 23, 2017, 08:25PM

What happened to your Arizona fund?

One more Cadman racket gone wrong?

Are they still selling this?

Post#217 by Investor Jan. 18, 2017, 03:47PM

Anyone have concerns or comments with CBI and the Arizona Acquisiton Fund? 

Post#159 by Guest Aug. 29, 2016, 07:46PM

Post 156 - You can declare a capital loss - but only IF you have a capital gain to deduct it from.

You can declare an Allowable Business Investment Loss (ABIL) but you need all the necessary documentation if CRA askes for it. This way 50% of your allowable loss is deductible from all income.

KBP, and along with every investment the Cadman Brothers launched have provided no financial statements to investors nor did the regulators demand them to. Why are they not in jail?

Where is the ASC and the courts in all this?

Good luck with CRA

Post#156 by Guest Aug. 10, 2016, 01:03PM

Not only am I paying  fees to Olympia Trust for managing this portfolio, but I am forced to pay DEEMED INCOME on the supposed Interest that was supposedly accruing each year from this investment.  I looks as though it would be advantageous for my husband and I to declare it valueless and declare it as a Capital Loss on my Income Tax statement.  Could someone help me with this procedure?

Post#155 by Guest Jul. 13, 2016, 11:04AM

Did anyone else receive a T5 from KBP Capital Corp? Thx

Post#127 by McGuigan Nelson LLP Nov. 26, 2015, 10:45AM

Attention Investors:

We have recently become aware of this forum thread and understand that a few posters have referenced claims being advanced by our offices and there is some confusion about what is transpiring.  We encourage investors in the CBI projects to visit www.mnllp.ca and you can find your specific project and correct information related to each.  There are 3 claims that have been settled and they are all going to be dealt with differently.

The Keystone Business Park class action suit is ongoing.  The actual investment made by those potential class participants was investment in one corporation and monies were then loaned to another corporation, which held title to the property.  So investors’ interest in the land was registered as a mortgage.  CBI Property Income Corp. also has a mortgage on that property, subordinate to the original investors.  Based on what we lay out below, there is little prospect of the PIC investors realizing anything on the development of the business park.

The investors in KBP Capital Corp. invested up to $19,200,000, as that is the amount of the mortgage on title to that property.  To put that into perspective, it should be noted that the purchase price of the property was $8,680,000.00.  However, this property was sold to investors for an additional $6,150,000.00 over that purchase price.  This was disclosed to investors in your Offering Memorandum.

We are working to remove the CBI Group from the property completely.  This is to give control of the asset to the original investors.  Investors will be the ones who decide how to move forward with the eventual sale or development of the property.

We hope this clarifies matters for investors, and we would refer investors to our Keystone Business Park class action webpage, which explains this matter in further detail:

http://mnllp.ca/current-cases/cbi-group/cbi-keystone-business-park/

We look forward to working with you.

McGuigan Nelson LLP

Post#126 by Guest Nov. 25, 2015, 08:58PM

if someone  can tell me is my r investment really gone?I have stopped payimg to olympic  for a long time 

Post#121 by Guest Nov. 03, 2015, 05:19PM

McGuigan Nelson  LLP have made it quite clear that the investors will get nothing and the mortgage holders and law firm will get whatever can be salvaged. Will someone indicate if there is any hope at all to redeem our Principle  from this discusting episode of Alberta crime, theft and abuse?

Post#120 by Guest Nov. 03, 2015, 05:07PM

Has there been a gathering of Investors in order to influence the proceedings against the perpetrators either here or in the USA? Like others this RRSP investment was a key part of our retirement plans and now we have to open a RIF account! This is a tragic commentary on Calgary and Canada.

Post#113 by Guest Sep. 22, 2015, 10:20AM

Wow. A class action lawsuit. This is just another way for the lawyers to make their fees while investors get nothing. Did you read the settlements? Legal fees were returned only to the first people who put money into the legal fund. Dont fall for yet another scam people.

Post#112 by Guest Sep. 21, 2015, 02:50PM

It looks like there is a new class action starting up for Keystone Business Park. 

http://mnllp.ca/current-cases/cbi-group/cbi-keystone-business-park/

It also looks like they have settled the three other CBI Group lawsuits.

Post#91 by Guest Aug. 01, 2015, 09:41AM

The CBI/Lake House settleement offer is extremely lacking.

Do not accept it! It only allows the Cadmans to walk away with your money with no repercussions whatsoever. What the lawyers are doing is only gouging the investors further.

These two brothers knew what they were doing from the onset, and that was to amass enough money to move to the US and continue their evil lives with your money.

They should be joining Brost and Sorenson behind bars if no money is returned.

Post#62 by Guest May. 16, 2015, 05:55PM

Stop paying the annual scam/ponzi fee and they will make your life hell. They have very deep pockets, no regard for you or your situation. They have been in on almost every scam/ponzi in Alberta for several years.

Post#61 by Guest May. 15, 2015, 02:12PM

What happens if I discontinue paying my annual fees?

Post#60 by Guest May. 15, 2015, 02:08PM

Thanks for this info.

Should I continue paying this self-directed fees charged by Olympia TRust every year? If my investment is gone, I don't want to keep paying.

I phoned their office several times and nobody answers.

Post#29 by Guest Apr. 04, 2015, 06:15PM

Anything done by the Cadman brothers in the past ten years is suspect.

Contact them to try to get any answers!!!

This proposed Keystone business park is still vacant land. Like most their other projects

They have not returned anything to investors for years.... for any of their projects. Investors have lost millions through these guys, Yet they continue on in Arizona and Houston with further duping of investors. Unbelivable!

The ASE allowed these guys to rip off the public without impunity. Even after sanctioning them. What goes?

Post#9 by Guest Mar. 04, 2015, 12:10PM

Cool    CBI investors check out ......   http://mnllp.ca/current-cases/cbi-group/

Post#7 by Guest Feb. 27, 2015, 02:36PM

Does anybody have any updates on this investment? I invested part of my RRSP here and Olympia Trust is asking for the self-directed fees once again. I'm not sure if this investment is still good and should I keep on paying my fee to Olympia?

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