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Financial advisor sold us on this Limited Partnership (Jaymor Investments) based on receiving tax write offs on the loan for the investment and a great return normally in a few years after when the property is sold.
Now I am being told the property (Lighthouse Pointe ..Florida) is being foreclosed and I cannot understand that they took all our money to purchase this property and lose it...and their website has shown that it is fully subscribed inwhich I believed to be financially
solid to ride out this economic downturn until the property could be sold. I am now on the hook for a lot of money in my retirement.
The OSC states they have no control over this type of investment ?
How can companies (investment/advisor's) get away with selling these products and not be held accountable?
I used the calculation of minus the interest payments made from my tax refund which left very little to pay down the line of credit and did not receive any cash distributions.
The complaint has been investigated and resolved to the customer’s satisfaction.
I am also a investor in Lighthouse Pointe with Jaymor and have to say that your comment is slanderous. I invested $50, 000 and thru tax deductions and cash distributions I received $40, 000 + dollars back which I applied to my line of credit therefore only owe $10, 000 what did you do with your money? I am not happy to see what happened at Lighthouse either but the fact of the matter is the entire US was devastated economically property values, rental income and heavy unemployment all came at the same time for the local economy. After much time investigating what happened and talking to Jaymor I have concluded that they exhausted all possible avenues to save the property. I think your bigger issue is with the sales person. The reason the OSC can't help you is because Jaymor did nothing wrong. and certainly didn't steal your money! I have other properties with Jaymor that are performing very well. Hope this info helps you feel better.
Jamor,
Treats customers like mushrooms, they keep customers in the dark (no feedback ever) and then, finally, they feed them ### (Lighthouse foreclosure).
This is truly a limited partneship where they never asked their customers for possible help in the foreclosure discussions.
I think a class action suit is in order.
Your thoughts and feedback.
Hi, I agree with you. We r on the same boat. We need to do something. It s a lot of money.
Retire, I have invested with Jaymor and in other Limited Partnerships over the years. You stated your "Financial Advisor" sold you the product. Perhaps you'd better cry to him (or her). I am sure there was a Prospectus or Offering Memorandum document which we all acknowledge receipt of when making an investment. READ IT ! It will explain what it was you invested in and the risks associated. It will also tell you how much your "advisor" earned as a commission ! Keep up on the news as well...Florida has been tanking for 3 years ! And to XYZ111, what sort of "help" would customers/investors offer ? More money to pay off the mortgage ? Good luck with your class action suit...Lawyers would be pleased to take it on I am sure, then after billing the snot out of you, will you what you probably signed ! My advice...Buy Gold and Silver and keep smiling !
Last line of post should read " WILL SHOW YOU WHAT YOU PROBABLY SIGNED "...so sorry...
I am a multiple investor with Jaymor. One of the LP properties, Crosswinds in Houston, TX did not produce a refinancing cheque of $10, 000.00+ which was promised by the sales agent (a Becksley Capital employee). This company does not address complaints or return e-mails. I do not understand how any of these properties could have foreclosed, or foreclose in the future. They have offered a final payout of $2, 000.00 to investors for a property that cost $40, 000, after stating that the original amount would be returned upon final sale. I don't understand how they can expect investors to lose these large sums of money. Going back to "dicktheinvestor", it appears that this person must be an employee of Jaymor, who else would so vehemently support this company? His calculated figures are incorrect, the investor will be shortchanged even more. I URGE OTHER INVESTORS TO CONTACT THE OMBUDSMAN AND FILL OUT A SIMPLE COMPLAINT FORM. Please also take the time to send a complaint on this forum, so as to show all the other investors that there are many of us unhappy. "RETIRE" and "XYZ111" are both correct in their statements. A future Class Action suit may be appropriate. Jaymor, where has all the money gone?
I have lost on two investments with Jaymor. Can anyone tell me if they know of a law firm that is doing a class action suit? Any information on what you have uncovered would be very helpful, as I am just in the investigation stage of this mess.
Any news on a class action? I too was duped out of 150, 000K on Regency. These people are criminal!
stoney point -another one of they're offerings
-$2000 cheque offered upon foreclosure--they did all that they could investing they're money to salvage...
no -one could have predicted 2008-
many other successful properties attracted me...just bad timing thats all...
I knew the risks...sounds too good to be true ...probably is ...went against that and bought twice...
it is painful, i can't really afford the losses ..
gotta keep moving...spillled milk ...
anyone really aware of crosswinds status now ?
truly need this one doing well
blue collar guy ...
"Going back to "dicktheinvestor", it appears that this person must be an employee of Jaymor, who else would so vehemently support this company?"
UPSET INVESTOR
Sorry. Am not employee of these folks. Your post appears over three years after my last post here. All I am suggesting is you should read all the Offering Docs you ultimately signed. We would all be pissing away more money for legal action. Unless a FRAUD can be proven, there will be no success. Why don't ask your planner what happened ?
I have invested 32000.00 in jaymor regency since 2009, according to the contract I would get 4 percent yearly . I did not get any interest except for the first year appro ...1000.00. In January 2016 I received a letter from Jaymor that all my 32000.00 r r s p is gone.Please read this before invest in jaymor before you become the same fate as me.
I also lost the entire amount invested in The Regency in 2009 and no dividends or other disbursements were ever paid to me in the 7 years I held the investment. Jaymor and my financial planner sold me on the fact that the US housing market had already crashed in [protected], and that buying affordable, multi-unit dwellings at such a low point in the cycle would be a fairly safe investment. It is very difficult to comprehend how this investment is completely gone, and what troubles me more is the fact that Jaymor has not offered any explanation or the slightest communication. As a customer, this is quite disappointing.
Jaymor Group investments are a scam. Invested in Stoney Brook and Crosswinds. The offer on Stoney Brook was the $2000 on the original 40, 000 invested in 2015. Hardly enough to cover the line of credit from an "advisor" from BMO. We were suppose to take the money returned and pay down the line of credit. But hard to do when those interest only monthly payments have to be made. This connection of investors will lose our shirts on this deal. Local representative from Becksley Capital is also in on the deal. Yes we received some refinancing cheques on the Stoney deal. None on the Crosswinds deal. We did get some tax savings over the multiple years (five total). We will still loose on this. Latest October "newsletter" came out basically warning us we will see little return back on our initial $40, 000 for Stoney Brook. They apparently had the right to sell the property without even showing the LLP the newest deal or was it basically the 2015 deal dressed in a new outfit.
We should get the other investors who are loosing big on this together on a class action lawsuit. I believe with some forensic accounting by a legal law firm we will see a money laundering scam in some form. Yes we all did sign those documents without really knowing what we signed by the promise of big returns in 5-7 years. Sound familiar?
I think there is a lawyer currently in a legal action against Jaymor, the Local representative from Becksley and the BMO financial advisor/banker. The Ontario Ombudsmen is definitely were everyone should start. Next stop should be find out who the legal firm is and see if a class action is feasible. Check out Jaymore website they now have the 100 million investment fund to buy distressed Jaymor properties. Does this sound familiar. If that does not scream Ponzi scam, get new money to buy into our financial distressed property that we apparently own in only a "limited liability partnership".
Band together while we still have a chance. This is a rotten deal that we all were hoodwinked into buying!
Hi,
I lost as well over $20, 000 dollars, is someone taken action in Canada? Because if so, I would like to know more
Ed
it looks like I may have lost money too as they seem to be stringing me along.
I have receive no interest or payment of any kind since April 1016
I invested $30, 000 dollars on Osprey Landing project at 2009, and I have receive no interest or payment of any kind till now (July 2017). I called them couple of times, they keep saying the property has not been sold, and they do not know when it will be listing.
I believe Jaymor is liar, and I would like to join the law suite to Jaymor if there is one.
Here is one link related to Jaymor law suite.
http://www.osc.gov.on.ca/en/SecuritiesLaw_ord_20160303_321_thompsong.htm
I invested $200 k with these scammers about 10 years ago and I’m still waiting for the promised return in 5-7 years. They have closed their office and refuse to return calls or answe emails. Fab Luchese is the kingpin behind this Ponzi scheme. We need to get together and bring down these crooks! If anyone is interested please let me know.
Hi Darold this is Upset Investor I am out over $100K US. Let's get some people together & get our money back
Do you have updates to the above? Who is the legal firm to contact regards the case and class action? Updates from the Ontario Ombudsmen, etc?
You should run from your advisor. This scam was outed many years ago. Fortunately I got all my money back when I advised them I was reporting them to the authorities. One has to assume your advisor made big money when he sold you this...20%. they sold you a bill of goods...nothing less than the sales pitch i got...the tax write offs dont do anything for you, but bilk the Canadian government for money that Fab, and his sales agents suck up..Forget the tax write offs, where is the gain you promised...up in smoke with he jaymour group
I also am a victim of Jaymor Investments in which I lost $40, 000 after investing $50, 000 US. In reading all these complaints it appears that Jaymor has a way of taking advantage of hardworking people and continue living the high life on our hard earning money. I really hope something will be done to stop them. I could have used that money in my current retirement. What a bunch of crooks.
I was victim of a similar investment scheme by a company called Concrete Equities. It made legal history because the LPs banded together and replaced the GP. They managed to obtain some recovery and, more importantly, set a precedent for replacing a fraudulent GP. Though most partnership agreements make provision for this possibility, it's difficult to accomplish because most LPs typically don't know each other. In this case one LP was able to compel the GP to provide the list of LPs, at the threat of legal action if he refused, which got the ball rolling. Have you checked the provision in the partnership or purchase agreement for calling a meeting between the LPs and GP?
https://www.cbc.ca/news/canada/calgary/concrete-equities-fraud-david-humeniuk-sentenced-apologizes-1.4496235
The above link refers to the Concrete Equities scheme and "results" per Mr Dyckerhoff. As to the rights of LP investors, if you provide a written demand to the GP, they have to provide an investor list. If not, report to CRA and they will compel GP to provide...
I am willing to be part of a class action suit to Jaymor capital Canada Ltd if anyone has taken action I would like to be contacted
[protected]
Please contact me Connie, I was ripped off for $200k
I am also willing to be part of a class action suit, my husband and I both have investments with Jaymor and am not receiving any feedback anymore
Let's see if the Ontario ombudsman knows the legal firm involved with this as mentioned earlier. Perhaps there is some way of pursuing this. We have nothing to lose in trying.
I too have investments with Jaymor that have matured, but zero response from anyone in the company. I am starting to look into legal action. I am willing to be a part of a class action law suit.
I am experiencing the same thing ! What action can we take against Jaymor?
I will be submitting a class action law suit against Jaymor capital
Please email: jaymorlawsuit@gmail.com and I will connect you with the law firm who is initiating the proceeding
Hi,
I sent an email to the above email, what is the response timeline? I am interested in this, as I have also lost money from the above mentioned. Thanks
I also sent an email to the above address but have not received any response. I am interested in any lawsuit against Jaymor as I have lost significant funds. Thankyou
Do you have an updated email, I sent an email and haven’t been contacted.
Regards
Ed
Any updates on who to contact at all with regards to class action? I feel I can be of some help. Is one started?
I also sent an email to the above address and received a notification back that the email failed to go through. Is this email account still active?
Hello Law Firm GTA, that email address does not work... I had tried several times and it bounced back. Do you or anyone else have any other contacts with regard to class action, legal suits, claims lodged where, etc?
Are there any updates jaymor lawsuits
I’d like to be contacted with regards to helping with a class action.
I also contacted the jaymorlawsuit@gmail.com to be included in the Class action suit against Jaymor Investments on March 16'21. I have not heard back. I lost $50K.
@Deetoitdave My email to jaymorlawsuit@gmail.com bounced. The message that came back is that the email address had been disabled.
Is there a contact or two about who the law firm is that is co-ordinating the Class Action suit against Jaymor Investments? I and as well as many others need to be on the class action.
Can you avail more information how else to get on the class action as my email bounced thrice when I wrote to them? Do you have the lawyers' email address?
I am an investor in Jaymor funds and had been enquiring about the returns from this fund. Disappointing and hurtful to see this site. Any one has information about the lawsuit and class action like progress and how to participate in the class action? Please help and available information. The sales reps and companies do little to help us in this situation.
I feel the exact same, they sell you the product but don’t help in a situation like this ! I have invested as well thru Jaymor and there is no response from Fab in all the emails I sent . I don’t know who to turn to for help !
He has taken advantage of all
Us investors where the money should be going is returned to us . Bonds matured end of dec 2020 and it appears fab has no intention of paying us back our hard earned money !
Does any one have any updates on where this case(s) against Jaymor Group is going? Please share and inform all of us.
It’s not sounding good ! I’ve sent do many emails to Fab with zero response . He has no intention on paying us investors!
What have you done like lodge a lawsuit or have info about class action? Ontario Commission doing anything? Other than Fab and Jaymor companies?
File a complaint thru Ontario security commission . I have contacted the RCMP & am going to be speaking to a lawyer.
When you speak to a lawyer, would that lawyer know if there are existing class actions against Jaymor? and what else is happening? Could you let me know if I can join in the class actions, or any other info that can help or have leads to some claims? Would appreciate it very much.
Hi Jenny did you find out anything about a class action suit? I would be interested in joining as I lost a lot of money also
I am also out 70K from the sale of Osprey Landings units I held. They were sold 18 months ago and sent a letter asking if I wanted to be paid out or reinvest. I told them pay me out, they acknowledged they received my reply. I have heard basically nothing since with all my voicemail attempts and e-mails to them. I am 100% willing to join a class action lawsuit as well
I bought this Jaymor investment from a Raintree representative. He claimed it was carefully reviewed and a top 10 of current opportunities. It looks like dozens of people and maybe hundreds have been scammed. How could Raintree allowed this to happen?
I had the same thing happen to myself. If you find out about a lawsuit could you please let me know also so I can join up
This comment is from 2011, a lot has changed since then. Jaymor lost their membership in the OSC because they failed to file their financials. Also, the OSC is toothless. Even if you win a case with them, they cannot force a company to pay restitution. They have been fleecing investors for years and get away with it in Canada because they operate under the "Exempt Market" with accredited investors (translation - you can afford to get ripped off} Since they have most of their properties in the U.S., we need to file complaints with the FBI!
My wife and I and family and friends all go into this and altogether we are out about 1.8 million. Ashton Oaks and Stoney Brook and Regency LP's (to name a few of many) sold to us by the biggest con-artist here in Southwestern Ontario. This con-artist had charges brought against him by the OSC and he lost his MF license. This person should not have been selling these LP's to us "common folk" but rather people with high level incomes. Please let me know how/when to join the class-action lawsuit against these crooks.
My wife and I were also bilked. We also live in SW Ontario. May I ask who sold you this investment? Have you heard anything more about a class action? We are interested.
Is this person's initials MJ? I think I know exactly who you're referring to and was also scammed by the same person.
is there any information about a lawsuit
I am writing to find out if there has been any updates about Jaymor investments. Has anyone actually started a class action or know how to contact Jaymor and actually get any response. I would really appreciate any updates that anyone may have.
Thanks
Lynna Buswell