Wednesday, August 31, 2011

Thanks for correcting the record

It is noted that The Gazette has corrected the error in its headline of Aug. 18th, which stated Voyageur Foundation was soliciting through its web site.

Due to an editing error, an article published on Aug. 18 contained an incorrect website address for Voyageur, a Costa Rica-based investment foundation. The new website referred to in the article is https: // As well, the headline on the article incorrectly said the foundation is soliciting Quebecers on the site; the article said a visitor to the password-protected site was unable to determine whether it was being used to sell investments.
The Gazette regrets the errors.
© Copyright (c) The Montreal Gazette
As The Gazette updates the record, two other corrections could be added to the list, the first regarding the newspaper's description of Voyageur as a "banned foundation." Banned by whom, and for what?

To be strictly accurate, the foundation is banned from selling securities, an activity that Voyageur Foundation states that it does not do.  Voyageur Foundation is an investors club, and represents the interests of its members in any dealings with investment companies. It does not sell investments, nor represent investment companies. 

We hope this will become clear as the AMF completes its review of Voyageur Foundation.

Secondly, the newspaper could correct its statement that the AMF "is conducting an investigation into the foundation's activities to determine whether it is a Ponzi scheme." The cease-trade order against Voyageur Foundation, its founder and three of its members, does not state there is an investigation of Voyageur to determine if it is a Ponzi scheme. The Gazette may need to review its sources and document further when it alleges that Voyageur Foundation is being investigated as a Ponzi.

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