WALTON INTERNATIONAL GROUP INC. [WIGI] –
Seeks to “WRITE OFF” $700 Million+ of Investor Funds via Canadian Bankruptcy Process!!!
{WHISTLEBLOWERS ARE URGED TO CONTACT THIS FORUM}
A multinational investigation is underway to evaluate the “Land Banking” activities of Walton International Group Inc. and it’s more than 400 associated or subsidiary companies. The inquiry has been commissioned at the behest of a group of investors who claim to have been victims of fraudulent misrepresentation by the principles of Walton.
The Walton Group was established in 1979. Walton maintains its base of operations in Calgary, Alberta Canada operating as a land banking company and multinational privately held real estate investment and development group. Over the last 15 years Walton Group worked to expand its investor sales base from Canada to Include the United States, Asia and Europe and is now looking to expand its investor base into Dubai. Walton claims to have sold investments to more than 90,000 investors.
“Bill” Doherty
The Walton Group currently led by William “Bill” Doherty, claims to administer more than $4 Billion in total assets to include 105,000 acres of land in North America, with approximately 25,000 acres located in Alberta and Ontario Canada, and 80,000 acres located in Colorado, Washington DC, Maryland, Texas, Florida and North and South Carolina within the United States.
The Alberta Securities Commission (ASC) and the British Columbia Securities Commission (BCSC) have conducted several investigations into Walton’s business practices between 2002 and 2017. In most cases the Regulators contested that Walton was in fact selling securities contrary to current Securities Legislation. Walton took a different view.
In its Confidential Offering Memorandums, Walton makes note of this dispute in 2005 and 2006 with BCSC and refers to Enforcement action that could be taken against them and the adverse effect this may have on its funding obligations. The memorandum notes that they were informed the case was closed against them, but that enforcement may come later.
On April 28,2017 the ASC posted this press release: –
“The Alberta Securities Commission (ASC) has suspended the registration of Walton Capital Management Inc. (WCMI) after a meeting with WCMI management today, pending the surrender of the registration of the firm. WCMI consented to the suspension.
While the suspension remains in place, WCMI is prohibited from providing advice and selling securities to investors. The ASC will be following up with WCMI concerning their regulatory obligations.
The ASC is the regulatory agency responsible for administering the province’s securities laws
On the same day the Securities Commission released it’s public announcement of Walton’s suspension, William Doherty filed his first Affidavit to commence Bankruptcy or CCAA proceedings in Canada.
On April 28, 2017 Walton International Group Inc. (“WIGI”), together with the entities (collectively the “Applicants”), sought and obtained protection pursuant to the Companies’ Creditors Arrangement Act, the (“CCAA”) pursuant to an Order made at the Court of the Queen’s Bench of Alberta in Calgary.
{WHISTLEBLOWERS ARE URGED TO CONTACT THIS FORUM}
Should you have information that may assist the victims in this alleged fraud scheme PLEASE contact this forum and you will be put in touch with an investigator working for the legal team in this matter. All information will be treated as confidential.
Are you an investor in Walton who is interested in joining a group effort to investigate and possibly pursue civil, regulatory and/or criminal remedies contact this forum for additional information.
IFA@cmail.nu