200 investors protest firm
A commercial investment dispute spilled onto a downtown streetyesterday as more than 200 investors protested in front of the headoffice of the company at the centre of the dispute.
A commercial investment dispute spilled onto a downtown street yesterday as more than 200 investors protested in front of the head office of the company at the centre of the dispute.
The group of investors, each with individual investments of $10,000 to $50,000 in Concrete Equities, allege they stopped receiving their quarterly dividend cheques from the commercial real estate company four months ago.
“We feel they are mismanaging our funds and withholding information from us,” Terry Town said on behalf of the protesters.
Town said the investors have been asking for financial information but their requests have not been met.
“As investors, we have a right to the information about the management of our investments,” Town added.
Mike Hansen, an investor in Concrete Equities Place, and a member of the Steering Committee, said that Concrete Equities filed for bankruptcy protection last Thursday. “We’re just regular people looking out for our investments and it feels like we’re swimming in a pool of sharks,” he said.
The protesters marched outside the Concrete Equities building on 4 Street and 11 Avenue SW with signs reading, “lies,” “give us our money back” and “make it right — your concrete is crumbling.”
Investor Kelly Ziegler and his seven-year-old daughter Nicole marched together to bring awareness to the issue.
“That money was our college fund,” Ziegler added.
When Metro contacted Concrete Equities yesterday over these allegations, a spokesperson said they couldn’t be reached for comment.