Since a few people email me every month asking if I know anything about the status of the Dragon Fund, I thought it would be helpful if I published this letter I received from Olympia Trust Company last month. It officially declares that the Dragon Fund is defunct and worthless. If you need the documents required to remove this investment from your account, please contact Olympia Trust Company at 1-877-565-0001.
I received this via email today. If you’re an investor with money in the Dragon Fund, here’s what’s going on (which is to say, still not much):
July 25, 2011
Dragon Fund Update
Recently Dragon Fund and the trustees of the fund have been served with an Amended Statement of Claim which has included MacLeod Dixon. This amendment has created a conflict of interest between our legal counsel (MacLeod Dixon), ourselves and the fund. MacLeod Dixon is no longer able to represent the fund as this is a conflict of interest.
New legal representation for Mike Arnold and Tina Zowtuk has recommend we resign as trustees . Due to the Amended Statement of Claim the new legal counsel can represent us personally but not the fund.
We are currently asking for individuals to put their name forward to take on the trustee role of the Dragon Fund LP. If we are unable to replace the trustees internally the fund will have to appoint an external trustee.
If you are interested in becoming a trustee please forward your contact information.
If you’re an investor that has money in the Dragon Fund, the fund originally started by Dave Jones of Wealthstreet, you’ll be interested in knowing that the trustees of the Dragon Fund (of which Dave Jones is no longer one) have called a meeting. I phoned Michael Arnold (one of the trustees) today to ask what the latest updates were on the land in Airdrie, and he said they had been contacting investors via email – and that the email they sent me bounced. The meeting is being held on June 16th, 7pm, at Southside Victory Church (6402 1A Street SW) in Calgary. I’ll be there and will report back what the trustees tell the investors.