Please watch this video that discusses some of the criminal actions of large institutions related to Michael Lathigee.
THE TRUE STORY OF WHAT HAPPENED AT THE FIC GROUP OF COMPANIES
John Tansowny (Crown Capital) and Dennis O’Dowd (Phoenix Land Ventures)
A litany of deceit, deception, fraud, negligence and greed
The FIC Group was thriving in the early 2000’s in a major Bull Market with hundreds of members participating in various investment opportunities including Real Estate. Real estate in the Province of Alberta was booming and the FIC Real Estate Fund was established to invest in development land. FIC was growing at a staggering rate and in 2006 FIC Group engaged the consulting services of John Tansowny, a person who professed to be an experienced Real Estate Investor and Entrepreneur in the Edmonton, Alberta area.
Due diligence was performed on John Tansowny and it appeared he had a solid reputation, so eventually all Real Estate transactions on behalf of FIC were handled by him.
Tansowny build trust during the initial months at FIC Group of Companies. It was when the CEO, Mike Lathigee went on the road to meet with investors in many cities over many months and empowered each of his management team that Tansowny saw this as the opportunity with less stringent reporting to Lathigee to put his plan of stealing from investors underway. Lathigee says he takes full accountability for this mistake.
A series of transactions was entered into by FIC beginning April 30,2006 when it purchased land from 1229068 Alberta doing business as Phoenix Land Ventures (“Phoenix”) , a company owned by Denis and Valerie O’Dowd (“O’Dowd”). The purchase price was $1,250,000 and we haven’t yet been able to determine when O’Dowd purchased the property nor for how much.
A month later, on May 31, 2006 FIC purchased lots in 3 stages of a development known as Willow Park. Without agreement or even disclosure, a “finders fee” of $52,500 was paid to Phoenix.
Continue reading on the True Story Page (Click Here) to learn the truth about Mike Lathigee.
Mike Lathigee has spent the last ten years rebuilding his reputation after the collapse of his last company.
Here are some words from several of the club members who have interacted with Mike which can be viewed in greater detail from my Character Letters (Click Here):
Michael Lathigee
Mr. Lathigee has transactional and business development experience in Canada, China, and the United States. While still attending college, Mr. Lathigee created his first company: Student Rentals, in 1989. Student Rentals was engaged in the business of importing container loads of appliances direct from the manufacturer in Korea and renting them to university students.
Years later, in 1998, Mr. Lathigee co-founded of Bargain Castle, a chain of ‘big box’ discount retail stores with several hundred employees. From 1999 to 2003 he served on the Board of Advisors for l-800 Got Junk. This company grew from a single outlet in Vancouver to an international franchise operation with hundreds of operators worldwide and is now the world’s largest rubbish removal pick up service company. From 2000 to 2001 he served as Director of Olympic Resources, a TSX listed oil exploration company.
From 2000 to 2002 Mr. Lathigee served as Director of PCG Ventures an exchange listed venture capital group involved in the consolidation of dental practices. From 1999 to 2008 he served as Chairman and CEO of FIC Group of Companies. FIC became the largest investment club (to date) in Canada, with more than 5000 members and in excess of $100 million in assets under management. He served for two years on the Board of the Vancouver Young Entrepreneur’s Organization — an influential business group with chapters in 55 countries. His study of business and economics in college began a lifelong love for the subjects. He has continued his personal studies and read widely and voraciously over the following decades, thus expanding his business knowledge.