Wednesday, November 2, 2011
Canada - Alleged Multi-Million Dollar Financial Fraud in Montreal
A financial scandal has once again shaken the legal community in Montreal. Dany Perras counsel is alleged to have participated in a major financial fraud that would have cost millions of dollars to investors in the Montreal area, mainly from the Jewish community.
For now, it is estimated that fifteen people would claim the funds of between 5 and 10 million to Dany Perras. “The money is gone,” says the lawyer Neil Stein, who is himself a dozen clients.
Gameroff family of Westmount is one of the victims. On 19 October, she got a pre-trial seizure of bank accounts belonging to Dany Perras and seizure of the portion of his home in Hampstead owned (50%). The same day, Dany Perras resigned from the Quebec Bar.
Gameroff family made a loan of $ 1.44 million in three tranches between September 27 and October 6. The funds were paid into the trust account of Mr. Perras and had to be repaid in the short term. The promised return ranged from 2 to 4% per week.
However, on October 18, the Gameroff learned that the trust account of Mr. Perras was empty and they would not be reimbursed. In the trial of seizure, seen by The Press, the judge wrote that “the affidavit and exhibits let fear misappropriation of money entrusted to the defendant [Dany Perras] (…) These fears are somewhat confirmed by the absence of the defendant [the hearings], which has yet been served with the petition. ”
Stay with Kaufman Laramee
For six months, Dany Perras was one of the partners of the firm Kaufman Laramee, indicates the lawyer who defended today the firm in this case, William Brock. Mr. Perras has left the firm June 30 because he was dissatisfied with his work, said Mr. Brock.
At the end of September, Kaufman Laramee noted that Mr. Perras had, during his period of employment, unauthorized transactions in the trust account of the firm, says Brock. A complaint was immediately lodged in the trustee of the Bar.
According to Mr. Brock, a dozen customers have participated in the scheme of Mr. Perras with the trust account of Kaufman Laramee before June 30, but only one was not reimbursed for an amount less than $ 30,000.
The loan scheme is similar for all victims, but it is not the same borrowers, said Neil Stein. Essentially, victims have provided funds in the trust account of Mr. Perras by being promised that they never would be paid to the borrower.
Funds only served to embellish the financial picture of the various borrowers issue they can convince others of the validity of their project. The funds from the trust account gave borrowers an alleged appearance of liquidity.
According to Mr. Stein, these loan agreements are illegal because they are designed to falsify financial records. “Among the remedies against Mr. Perras examines a bankruptcy petition, which would allow us to investigate and determine where the money went,” said Mr. Stein.
Dany Perras would have begun his scheme first using a CIBC account and an account of the Bank of Montreal. Some customers have complained to the Financial Markets Authority (AMF), which confirms “consider certain information” about Mr. Perras.
We left a message to Mr. Perras, but has not recalled. His criminal lawyer, Erick Vanchestein, we wrote that we can not “provide any information on this case.”
In recent months, several lawyers have made headlines. Among other things, the lawyer Jean-Pierre Desmarais was accused of being involved in illegal collection of funds through his trust account. The Financial Markets Authority (AMF) claims against Mr. Desmarais a fine of $ 1 million and calls for five years in prison.