Dragon Fund Update, July 25th, 2011

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.


Mike Arnold
Tina Zowtuk

Alberta Securities Commission Notice of Hearing for Varun “Vinny” Aurora, David Humeniuk, and Dave Jones

Wondering what happened to Varun “Vinny” Aurora, David Humeniuk, and Dave Jones? The Alberta Securities Commission has something to say. I quote:

“The Alberta Securities Commission (ASC) has issued a Notice of Hearing alleging Calgary residents Varun Vinny Aurora, David Humeniuk and David Jones breached Alberta securities laws by acting as dealers without being properly registered, making serious omissions and misrepresentations to investors and distributing various Concrete Equities Group entities’ securities using offering documents not in compliance with Alberta securities laws.

In the Notice of Hearing, ASC staff allege that Aurora, Humeniuk and Jones, as directors and officers of Concrete Equities and multiple related companies and limited partnerships, made several serious omissions and misrepresentations by failing to fully disclose material, non-arms length contracts connected to the securities being sold and failing to disclose Humeniuk’s lifetime withdrawal from the Real Estate Council of Alberta to investors.”

The appeatence to set a date for the hearing will be held on October 13th, 2010, at 1 p.m. in the ASC Hearing Room on the 6th Floor, 300 – 5th Avenue S.W., Calgary, Alberta. I’m pondering going myself – I wonder if it’s open to the public? The full notice of hearing document can be found on the ASC Web site, but I’ve also mirrored a copy of it here. Continue reading Alberta Securities Commission Notice of Hearing for Varun “Vinny” Aurora, David Humeniuk, and Dave Jones