This blog has been created to redress insinuations, allegations, misinterpretations, and falsehoods concerning Voyageur Foundation and the Jarman family. It also tries to show how the media can manipulate information to foster it own view of a situation and act as judge and jury instead of reporting the facts as it should.
Article “All that glitters”by Alison Macgregor, The Montreal Gazette, June 3, 2011
Miss Macgregor wrote “…Merendon Mining Ltd – the same gold mining and refinery firm at the heart of the Ponzi scheme…”
Here are the facts – Merendon Mining Ltd. is not charged with anything related to a Ponzi scheme; Merendon CEO Gary Sorenson is personally facing charges for theft and fraud over $5,000.
Miss Macgregor wrote “Despite being unable to retrieve an estimated $65 million in investments, Voyageur Foundation members continue to pump money into it….”
Here are the facts - Voyageur Foundation does not receive and has never received funds from members. Voyageur Foundation is not an investment company.
Miss Macgregor wrote "The AMF is investigating Voyageur to see if it is operating a Ponzi scheme."
Here are the facts - The order by the AMF from Feb. 28th does not state that they suspect Voyageur Foundation of being a Ponzi.
Miss Macgregor wrote “Documents suggest the Ponzi scheme and Voyageur both had their genesis in Calgary approximately 11 years ago.”
Here are the facts - Voyageur Foundation was founded in Panama in March 2000. The establishment of Voyageur had nothing to do with Milo Brost or Gary Sorenson.
Miss Macgregor wrote “Like Voyageur, the Ponzi scheme operators used a multi-level marketing model…”
Here are the facts - Voyageur did not have a multi-level marketing model.
Miss Macgregor wrote “…the ‘deluxe’ investment program promised potential returns of more than 100 per cent.”
Here are the facts - Voyageur Foundation is not an investment company and did not promise any returns. The reports on the Voyageur site stated expected returns based on past performance.
Miss Macgregor wrote “Furthermore, the internal Voyageur documents reveal that an accountant hired to carry out “independent” due diligence on debenture funds that funnelled investors funds into Merendon counts that very firm as one of his main clients.”
Here are the facts - RHD never stated that it hired the accountant in question. RHD stated that it had received statements of value from this accountant, and further disclosed to members that this accountant had been hired by Merendon. RHD clearly disclosed to members that it had no access to audited financial statements for Merendon Mining Ltd.
Miss Macgregor wrote “…both the Ponzi scheme and Voyageur flogged investments in the same Honduran gold mining refinery…”
Here are the facts - Voyageur Foundation is not an investment company. Voyageur does not sell investment. Members who wanted to meet Gary Sorenson and learn about his business went to Honduras directly and reported back to members on their findings.
Miss Macgregor wrote “A librarian at the Belize Supreme Court Library was not aware of the alleged May ruling, and was unable to find a record of judgment for the reporter – even though she said she would normally have heard of a $72-million award.”
Here are the facts - Voyageur Members were provided with a copy of the May 24th ruling by Justice Oswell Legall, in the case RHD and Balmain Trading Ltd. vs. Eiger Capital Corp. Too bad Ms. Macgregor has a tendency to leave her sources anonymous or we could inquire further about her inability to find someone to verify the judgment.