Samji Ponzi Scheme

We are co-counsel in a class action brought on behalf of the victims of the “Mark Anthony Investment” scheme promoted by a notary public, Rashida Samji. The class action alleges that the “Mark Anthony Investment” was a Ponzi scheme and seeks to recover the funds lost by the victims of this alleged fraud.

The proposed class members include those investors who provided funds through the defendant Arvindbhai Patel (aka Arvin Patel), a former financial planner and mutual fund salesman who was employed by the defendant Coast Capital Savings Credit Union during the relevant period. Other proposed class members include those who invested with Ms. Samji directly, or through other means.

On April 25, 2012, the Honourable Madam Justice Gerow was appointed judicial management judge for this action.  She has since been appointed to case manage all actions filed against Rashida Samji. This means that all the actions filed against Samji will be overseen by a single judge and will be managed together. This will ensure that all the cases proceed in an orderly and efficient manner.

On September 10, 2013, this action was certified as a class proceeding.  The details are contained in Reasons for Judgement listed below.

• Samj Ponzi Scheme Madam Justice Gerow Reasons for Judgment

On June 23 and 24, 2014, the trial against the Samji Defendants and the Society of Notaries Public took place.  On August 26, 2014, the Honourable Madam Justice Gerow released reasons for judgment in this action.  All the common issues addressed in the trial were decided in favour of the Class.  You can access this decision via the link below.

Class Counsel have now received the settlement funds from the Banks (RBC and TD) and anticipate receiving the settlement funds from the Coast Defendants shortly. Class Counsel have prepared a Settlement Administration Plan, in conjunction with the Trustee in Bankruptcy, to distribute the funds.

On November 26, 2014 Madam Justice Gerow approved the Settlement Administration Plan.  This Order was entered with the court on December 1, 2014.

• Samji Ponzi Scheme – Order Made After Application – December 1 2014

On June 5, 2015 the British Columbia Court of Appeal upheld Justice Gerow’s finding that Rashida Samji was acting in her capacity as a notary public while operating a fraudulent Ponzi scheme.

• Samji Ponzi Scheme Court of Appeal for British Columbia

For a more detailed understanding of the allegations of this putative class action, please see the pleadings below

• Samji Ponzi Scheme Affidavit #1 of Naomi Kovak
• Samji Ponzi Scheme Application re Distribution
• Samji Ponzi Scheme Notice of Settlement Administration Plan approval hearing
• Samji Ponzi Scheme Reasons for Judgment
• Samji Ponzi Scheme Second Further Amended Notice of Civil Claim
• Samji Ponzi Scheme Further Amended Notice of Civil Claim
• Samji Ponzi Scheme Amended Notice of Civil Claim
• Samji Ponzi Scheme Notice of Civil Claim

Are you an investor?

If you invested funds with Rashida Samji or Arvin Patel in the “Mark Anthony Investment” scheme, please fill out this form to help class counsel in its investigation:

• Investor Questionnaire

How can I become a class member?

If the action is certified as a class action, then all investors that participated in the “Mark Anthony Investment” scheme will be automatically included as class members. If you would like to be added to our database in order to be updated with any news, please complete the Investor Questionnaire.

Contact Us

For further information concerning this action, please contact Aisling Slevin, Paralegal. at 1-800-689-2322 or 604-331.9536.

Other Related Proceedings of Note:

Securities Commission Proceedings

There are ongoing proceedings before the B.C. Securities Commission. We are not directly involved in those proceedings, but you can find out more by visiting the Securities Commission’s website, here.

Receivership Proceedings

On April 3, 2012, a Receiver was appointed by the Court over some of Arvin Patel’s property and certain bank accounts belonging to Samji & Assoc. Holdings Inc. This appointment took place outside the Jer v. Samji action. The B.C. Securities Commission applied for the appointment of MNP Ltd. as Receiver, with the consent of Ms. Samji and Mr. Patel. It is our understanding that the Receiver’s mandate is to determine how best to use those assets to provide one source of recovery to investors.

The Receiver will continue to provide investor updates and will be involved in future proceedings.  We are not directly involved in these proceedings but we continue to monitor the Receiver’s process.

Samji Ponzi Scheme - Status Updates:

Samji Ponzi Scheme – September 10, 2013 – Certified as a Class Action - View

Samji Ponzi Scheme – October 24, 2012 – Certification Hearing and other Important Dates - View

Samji Ponzi Scheme – September 24, 2012 – Counsel preparing for a 5-day Certification Hearing in Spring 2013 - View

Samji Ponzi Scheme Second Further Amended Notice of Civil Claim filed September 21, 2012 - View

Samji Ponzi Scheme Further Amended Notice of Civil Claim filed August 29, 2012 - View

Samji Ponzi Scheme – Justice Gerow to case manage all actions against Rashida Samji - View

Samji Ponzi Scheme Amended Notice of Civil Claim filed June 5, 2012 - View