World Hockey Association Corp. (fka WHKA)

[overachiever]

The entire Eron Mortgage scandalous affair is interesting reading and seems to have at least one of the people associated with the Briners involved, a "Curt Lehner"

Here are the findings of fact.

http://www.bcsc.bc.ca/comdoc.nsf/0/141cc62c7db8fc39882568e9005eb079?OpenDocument&Click=

2. Findings of Fact

The allegations in the notice of hearing are that during the relevant period, the respondents made misrepresentations with the intention of selling securities, perpetrated a fraud on the public of British Columbia, and acted contrary to the public interest. Including particulars, there are a total of 33 allegations against six respondents. We summarized the particulars of the allegations at the beginning of these findings.
The particulars of these allegations are that the respondents knew or ought to have known that they:


· overstated the value of the mortgaged properties;

· overstated the amount by which the value of the mortgaged properties exceeded the loans made against those properties and that in some cases the amounts secured by the mortgages exceeded the value of the mortgaged property;

· overstated the extent to which the mortgaged properties had been developed;

· understated the degree of risk in the mortgages and the notes;

· promised investors in the mortgages and the notes rates of return of 15% to 24% that were unrealistic and could not be maintained;

· promised investors in the mortgages and the notes repayment in 6 to 12 months that could not be met without raising more funds from new investors;

· could not fulfill their guarantees to investors regarding repayment of the mortgages and the notes;

· put investors into mortgages with a lower priority or with a higher principal amount than the mortgages in which the investors were told they were investing;

· raised funds from investors for certain mortgages that exceeded the face value of those mortgages;

· spent investors funds in ways that were different from their intended purpose, without advising the investors;

· used the funds of subsequent investors to make interest and principal payments to existing investors without the knowledge of the investors;

· failed to keep proper records of the funds raised from investors.