Post by
walker77 on Jul 01, 2016 1:33pm
END GAME
Leung and Chan continue to execute their end game plan to shut down Empower and slip away as quietly as possible after squandering $30 million dollars of other peoples money and in the process financially destroying some of those investors.
They also misrepresented the company to investors and lied continuously.
A lie by omission is every bit as damaging to investors as a lie by commission.
Leung and Chan flouted the Canadian securities laws over and over to the financial detriment of the people who trusted them with their hard earned money.
Leung personally met with many of these investors in restaurants, bars and even in their homes. People trusted him and wrote huge cheques to support him.
Now, like cowards Leung and Chan are doing what they can to slip away and duck responsibility. .
Instead of standing up to take responsibility for the financial damage they have caused and apologizing to investors, they have chosen the most despicable way out. These are not honorable people with integrity. At the 2015 AGM Leung chose to blame others for the failure of EPT. When questioned Leung became visibly angry. Imagine the gaul of Leung to be angry for being questioned about what he has done over 16 years with $30 million dollars of other peoples money.
"The audit is about to commence and the Company anticipates the filing of the 2015 Annual Audited Financial Statements on or before June 28, 2016." Paul Leung, May 2,2016.
Like so many other claims by Leung and Chan that failed this is just one more to add to the list.
Leung and Chan have moved on. Empower is now nothing more than a holding company for AIC which I am sure continues to lose money. Staff at AIC report Leung is rarely seen at the store in the Aberdeen mall in Richmond. Its hard to know why they are deliberately delaying the 2015 financial report and also the 1st quarter report which is now nearly a month overdue as well. One thing is certain, they are continuing to hide the truth about this financial disaster that they created with the help of the fraudster broker.
About 3 years ago a very well placed source claimed Leung was involved in real estate. I don't believe Leung or Chan have real estate licences. Are Leung/Chan involved in marketing Vancouver real estate in China? Are they "shadow flipping homes?"
Its speculation but it sounds like something these 2 would get involved in. There is little skill involved. It only requires riding the inflationary curve that they would be helping to create and perpetuate.
It would be much easier to make money marketing Vancouver real estate in China than actually creating a product to sell with Empower. Never mind the fact that the massive escalation of real estate prices in Vancouver and the surrounding area will prevent hard working young Canadians with well paying jobs from ever owning anything in this town other than a small condo, if they are lucky. Would this be a concern to Leung and Chan? IMO, not very likely.
The investors of Empower have been duped.