Tuesday, August 26, 2014

Ombudsman for Banking Services and Investments (OBSI)

The Ombudsman for Banking Services and Investments (OBSI) is Canada’s independent ombudsman for consumers and small businesses with a complaint they can’t resolve with their banking services or investment firm.

• Independent not-for-profit organization operating in the public interest.
• May recommend compensation up to $350,000.
• Free to consumers and small businesses.
• Non-legalistic approach, using principles of fairness to all the parties.
• Investigates complaints about most banking and investment matters including: mutual funds; bonds and GICs; stocks, exchange traded funds, income trusts and other securities; investment advice; unauthorized trading; fraud; debit and credit cards; mortgages; loans and credit; fees and rates; transaction errors; misrepresentation; and accounts sent to collections.
So there we go again citizens. CIBC responsible for far more than your average bear's share of problems in Canada and that shouldn't surprise anybody reading this blog.

Very sadly the OBSI relies on voluntary compliance of their decisions and the only "teeth" is moral suasion. Very clearly in the case of CIBC of multiple class action lawsuits, shaming the turds in public isn't and will never be effective, at all.

Thursday, August 21, 2014

High-priced legal counsel tackles festering teachers

Peter Fassbender
"Education Minister Peter Fassbender is disobeying the media blackout, says the B.C. Teachers’ Federation. Fassbender has been talking to media outlets this week about aspects of the ongoing teachers’ strike.

“It is unhelpful that the minister is again playing politics in the media instead of allowing bargaining to resume behind closed doors,” union president Jim Iker said Thursday in a statement. “It shows a lack of integrity and highlights the government’s ongoing attempts to derail meaningful negotiations."

February 27, 2014

Howard Shapray
Toward the end of question period in the legislature earlier this week, Opposition education critic Rob Fleming took note of a change in the government legal team in the long running court battle with the B.C. Teachers' Federation.

The Liberals claimed it wasn't costing all that much money to pursue the case because they were relying on staff lawyers from the ministry of the attorney general who would be paid anyway.
After losing twice in front of the same judge in B.C. Supreme Court, the Liberals retained outside legal help for what was expected to be a tough fight to turn things around at the Court of Appeal.

The new member of the government legal team is Vancouver lawyer Howard Shapray.
The new legal lineup marked its first success Wednesday, when the Court of Appeal ruled in the government's favour on two preliminary matters regarding the next phase of the case.

The Liberals had asked the court to stay implementation of B.C. Supreme Court Justice Susan Griffin's decision, rolling back provisions in the teachers contract to where they stood a dozen years ago.


Tuesday, August 19, 2014

CIBC InvestorsEdge - We're Number 10 !!!

According to a ranking by a Q3 2013 review published by the Globe and Mail (http://www.theglobeandmail.com/globe-investor/online-broker-rankings/online-brokers-2012-the-globes-14th-annual-online-brokers-survey/article5506780/)
CIBC InvestorsEdge ranked dead last among big banks and 10th in Canada.

"Comments: No bank ignores its online brokerage arm like CIBC. Every time it looks like the lights are on at Investor’s Edge, they get snapped off again."

Follow on Twitter: @rcarrick
Account Info
1Virtual Brokers24141812.51078.5
2Qtrade Investor15221815878
3BMO InvestorLine101915.516767.5
4Scotia iTrade14.51413177.566
5RBC Direct Investing12.5199.5185.564.5
6TD Waterhouse11101420661
7Credential Direct1219914458
9Disnat (Classic)11177.514453.5
10CIBC Investor's Edge1491112551
11HSBC InvestDirect141510.59250.5
12National Bank Direct Brokerage10141014250
There are a large number of very questionable business activies that may explain this ranking. First is the internally generated rule related to the "auto-exercise" of "in-the-money" options at expiry that not only directly contradicts the rules of the Canadian Derivatives Clearing Corporation, it also contradicts CIBC's own propaganda ... some of it posted for public consumption for over 4 years.

There is also a very, very great issue with the term "balance of order" at CIBC. Again CIBC's own propaganda is contradicted and the amount of commissions charged border (and exceed) the criminal.
Other issues (of many) relate to an antiquated trading platform, "customer service" that is a terrible joke, and the wholesale impossibility of addressing problems of any kind.

We have experienced all of the above and the bottom line is massive, fully unnecessary losses. (virtually all of which go into CIBC pockets) If any others have experienced similar sickening abuse to their bummy do contact this citizen. stoxxman(at)gmail.com

Friday, August 15, 2014

Penisnose, Corksuker, Chitface and Anusbreath - Update II

Shapray Cramer Fitterman Lamer specializes in corporate theft and commercial conflict enhancement and strategic thingys while screwing your bummy stupid. Shapray Cramer Fitterman Lamer is well known for dynamism (ahuck) ingenuity (yup) and common sense (chitloads), which, when matched by the wealth of the collective experience of our liars, results in untimely, and extremely costly solutions. As long as you can pay, we have an idiot liar for you.

The firm’s clients range from major crooked Canadian Banks to US-based criminal corporations. Our work frequently involves large, complex or high-profile disputes, and we routinely mismanage intricate, multi-party litigation and document-intensive cases and bill you absolutely fukkin stupid when we lose, don't be fukkin ridiculous.

Abbas Sabur
Ask about our token minority liar. We try our fukkin damnest to juice indigent litigants because its dead fun and costs our 100% fully retarded clients (like CIBC) MAJOR and they are so fukkin damn stupid they don't even realize we are doing it. Ahuck.

God Bless da law and us HIGHLY ethical liars eh?
Explanation? After jerking our poor little abused pee pee almost clean off, out boyotard liar figures he needs to apply for a day's worth of costs (probably over $ 6,000) because, well, all that wicked jerky jerky made his poor wrist tired.

Dopus is too dense to figure out this monkey is indigent. That means not only are the chances of convincing a judge of hard done-by-ness slim to fuk all, it means costs are 1000% uncollectible and they are now FAR FAR FAR more than this fukkin claim could ever be "worth". Butt that doesn't matter to the liars at Penisnose, Corksuker, Chitface and Anusbreath ... dipchit CIBC will be paying ultra large for the irresponsible lawyertarding.

Francesco Aquilini, John Tortorella, Mike Gillis
"Much of the distancing revolves around the hiring of Mr. Tortorella, whose reputation as a firebrand and penchant to coach defensive hockey made him a controversial choice last year. On Monday, Francesco Aquilini sent a Globe and Mail reporter a text message warning of legal action after the newspaper published a story discussing the family’s involvement in the hiring.

“I read your article today. You are a prick,” it said. Two hours later, a legal letter from the family’s counsel arrived by e-mail. It alleged defamation, sought a retraction and an apology, and threatened further action.

“The facts are that while the Aquilinis supported the decision of the General Manager, the hiring decision was his and not theirs,” lawyer Howard Shapray of Vancouver-based Shapray Cramer Fitterman Lamer LLP wrote in the legal letter to The Globe.

Howard Shapray

"The legal push also took aim at The Province newspaper in Vancouver, which several weeks earlier in a column had mentioned the Aquilinis’ role in the Tortorella hiring. Mr. Shapray on Monday sent a legal letter to The Province and made similar demands as were made of The Globe."

"The family, according to a person with direct knowledge of the events, was particularly taken with Mr. Tortorella, who had been fiery in the past."

Francesco Aquilini
So there we go Citizens. Wanna get DEAD SERIOUS about calling somebody in the press a prick cause yer feelings are hurt? Give CIBC's counsel a call.

Penisnose, Corksuker, Chitface and Anusbreath will help you with fukkin gusto and irrespective of how stupido it is ... butt never for free bonehead.


Tuesday, August 12, 2014

Markarian v. CIBC World Markets Inc. 2006

Thomas S. Monahan President and Chief Executive Officer
Thomas S. Monahan is President and Chief Executive Officer of CIBC Mellon, Canada's leader in asset servicing. CIBC Mellon is 50-50 jointly owned by BNY Mellon and CIBC.

“We are committed to doing well by doing right,” said Tom Monahan, president and chief executive officer, CIBC Mellon. “I am proud of our performance in 2010 as a company, as a corporate citizen, and as an organization committed to taking responsibility for the impact of our actions on our stakeholders.”


Harry Migirdic
In a landmark case, Montreal Superior Court Judge Jean-Pierre Senècal awarded more than $3 million, including $1.5 million in punitive damages, to retirees Haroutioun and Alice Markarian, who had unwittingly guaranteed the trading losses of people they didn't know at the behest of their former CIBC Wood Gundy broker, Harry Migirdic. The brokerage invoked the guarantees to seize $1.4 million from the Markarians in 2001, leaving $2.54 in their accounts.

Senècal called CIBC's conduct "reprehensible" and said it "cruelly failed" in its duty to protect its clients and supervise its employee. CIBC subsequently settled out of court with several other former clients of Migirdic, who was terminated in 2001.
[614] Daniel Bowering, Compliance Department officer, was mandated by CIBC to investigate Migirdic's fraud and he testified. He wrote to his bosses at the end of his investigation that the firm should probably absorb the Markarians' losses, given all the irregularities committed by Migirdic, Migirdic's statements, the Markarians' statements and all the information revealed in Bowering's investigation. Bowering's recommendation was not followed.
[615]So why was everything blocked? Why were the false guarantees exercised? Why did CIBC seize the Markarians' assets?
[616] Because Tom Monahan, the president of CIBC Wood Gundy, decided that was what to do.
[621] Monahan acknowledged that Migirdic's fraud justified his dismissal. He acknowledged that it did not, however, prevent ... the guarantees from being executed.
[638]CIBC thus became the accomplice in Migirdic's fraud and did everything in its power to benefit from it directly.

Thomas S. Monahan President and Chief Executive Officer
He said the brokerage appropriated the money illegally, treated the Markarians in an arrogant and "degrading" manner and "cruelly failed" to control and supervise its employee. "CIBC must assume responsibility for the fraud of which (the Markarians) were victims," Judge Senecal said. "It was responsible not only indirectly, but directly."

"The brokerage's behaviour was both reprehensible and irresponsible."

Why didn't CIBC World Markets go to the police as well? Why didn't they just settle with the Markarians in 2001 instead of forcing them through 5 years of hell?

CIBC World Markets withdrew their appeal and paid the $1.5 million in punitive damages one month after the court decision.


"A quintessential up-by-the-bootstraps success story, Markarian arrived in Montreal from Egypt in 1962 with $300 in his pocket and co-founded his own mechanical company. He sold the business and retired in 1993 with a nest egg of $4.5 million."

"In March of 2001, CIBC Wood Gundy called Markarian and his wife into a meeting with Thomas Noonan—Migirdic’s boss—and a lawyer employed by the bank. Noonan showed the Markarians the signed guarantees, receiving confirmation it was Haroutioun’s signature. Noonan then told the Markarians that they now owed the bank $1.35 million. Their accounts were frozen and they could no longer carry out any transactions.

Noonan and the lawyer never uttered a word to the elderly couple about Migirdic’s fraud or confession. Markarian, sixty-eight years old at the time, went into shock. At the end of the meeting, he was unable to stand up, and had to be helped out of the room. He could not speak for fifteen minutes, then began asking his wife, “Is it a dream, Alice? Is it true?” Once home, a doctor was called to his bedside.

See more at: http://maisonneuve.org/article/2010/09/6/incredible-true-story-mr-makarian/#sthash.bF9xEUaC.49esihtK.dpuf

"IN THE END, Migirdic turned himself in. Stressed by his growing web of deceit, he contacted Wood Gundy head Thomas Monahan in February of 2001 and admitted there were “problems” with certain accounts. Monahan told Migirdic to write down the details of the fraud, and Migirdic indicated he deceived Markarian about the documents he was asked to sign. When Migirdic met with his superiors, he reiterated that Markarian never knew he was guaranteeing the debts of perfect strangers."

"Did you consider that [Migirdic] obtained a fraudulent signature of Mr. Markarian on the guarantees? Was it one of the facts that justified his dismissal?” Létourneau asked Monahan.

Monahan rambled, realizing he was stuck in a contradiction: why fire Migirdic unless he’d committed fraud? “But we didn’t know that it had been fraudulent,” Monahan replied. “We knew that that was what he said…and we knew that we had reliable guarantees that had been duly signed by a sophisticated businessman.”
Monahan finally conceded that Markarian “was deceived by Mr. Migirdic.” Still, when Létourneau asked Monahan whether he felt justified in taking Markarian’s money, Monahan responded, “Yes.” “You still maintain it today?” “Yes.”

- See more at: http://maisonneuve.org/article/2010/09/6/incredible-true-story-mr-makarian/#sthash.bF9xEUaC.dpuf

Monday, August 11, 2014

Jerked off by CIBC counsel AGAIN - Shapray Cramer Fitterman Lamer

Today should have been the first appearance in our CIBC lawsuit on a trivial proceedural issue.

VERY sadly the matter was removed from the Master's list because CIBC counsel waited until late Friday afternoon to respond and it was impossible to produce an Application Record and get the fukkin thing filed on time late Friday.

Abbas Sabur
And naturally I warned these massive wicked fukkers about it before hand and that did no good whatever.

"IF opposing counsel would ever get off that usual 11th hour 'strategic' nail we could prepare an Application Record for the court forthwith.

Given the too simple nature of this application what is opposing counsel's excuse this time?
All part of the ongoing lawyerly CIBC master plan a horse of course. Jerk my little layperson Pee Pee stupid because they think they can get away with it.

So what now? We might have requisitioned a new date but since we are expecting a fresh batch of lies on Thursday and now need to tell this ridiculous story we are abandoning the bloody damn thing and will file a "new and improved" application next week.

After taking a pill for my ultra sore Pee Pee this wicked fukkin horsechit actually does more good than harm.

Grrrrrrrr fukkin anyways.

Shapray Cramer Fitterman Lamer is a boutique litigation firm that specializes in corporate and commercial conflict resolution and strategic advice.