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Investigation into Saskatoon real estate company finds 'highly disorganized' records, missing servers and millions in cash gone – CTV News Saskatoon

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A court-ordered investigation has found that $211.9 million raised from investors by a Saskatoon-based real estate firm is mostly gone.

Epic Alliance Real Estate Inc. controlled more than 500 properties in Saskatoon and North Battleford.

The company collapsed earlier this year following a temporary cease-trade order issued in October by Saskatchewan’s Financial and Consumer Affairs Authority (FCAA).

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The company’s two founders, Rochelle Laflamme and Alisa Thompson, informed investors of the company’s demise in a 16-minute Zoom call on Jan. 19.

“We just couldn’t come back from the cease-trade order. The FCAA f***ed us, so that’s it,” Laflamme said.

In February, unsatisfied with Laflamme and Thompson’s explanation, a group of 121 investors successfully applied for a court-ordered inspector to examine the company.

Accounting firm Ernst and Young was appointed by a Court of Queen’s Bench judge to go over the firm’s books.

According to the inspector’s report submitted at the end of April, “only nominal cash and other assets remained” following the disintegration of the company.

The investigation was hindered by the fact Epic Alliance and a group of related companies did not maintain “accurate electronic accounting records” prior to 2019, the report said.

Many of the records available to the investigator were “highly disorganized” and computer servers containing the firm’s financial data were found missing from the company’s office, according to the report.

“The inspector identified an empty server rack where several servers containing the network data for EA Group should have been stored,” the report said.

“A drill was located on the top of the server rack which appeared to have been used to remove the servers.”

The security cameras monitoring the room had been disabled or had their wires cut, the report said.

Ernst and Young eventually tracked down the servers — with their data still intact — at an IT company that had allegedly been instructed to “wipe” and sell the servers, according to the report.

The inspector also found that Epic Alliance raised $370,000 from four investors while the FCAA cease trade order was still in effect.

During the period a promotion was offered where new investors could earn an additional two per cent above the posted interest rate.

The Saskatoon Police Service economic crimes unit is also investigating a complaint against Epic Alliance from an Ontario investor, spokesperson Alyson Edwards said.

CTV News has been unable to reach Laflamme and Thompson for comment.

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This $2 million Toronto home underwent a huge makeover and now looks better than ever

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Back in 2014, we featured 325 Perth Ave. as the house of the week, boasting how great of a catch it was with its open concept layout, basement apartment, and deep backyard.

Nine years later, it’s had a massive glow-up and is now better than ever.

Listed for $1,899,000, 325 Perth Ave. underwent the renovation of a lifetime back in 2021.

325 Perth Avenue Toronto

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The living room with custom built-ins.

“The owners bought this house in 2014 against 32 other offers and for 133 per cent over asking price, and the media debated heavily at the time if it was a smart decision,” realtor Maggie Lind told blogTO.

But they really made the best of their decision and in 2020, they began a renovation to add a 16-foot addition, build a laneway suite and gut the main floor.

325 Perth Avenue Toronto

The primary bedroom ensuite bathroom.

But then the pandemic hit.

325 Perth Avenue Toronto

One of three bedrooms in the main house.

“Because of COVID the laneway house was completed first, and the owners, and their two boys (both under 6) moved into it, even though it was only 350 square feet. Each night they went back to the construction to sleep in the two bedrooms on the second floor,” added Lind.

325 Perth Avenue Toronto

The kitchen.

The sacrifice was worth it, though, as the renovated home is gorgeous.

325 Perth Avenue Toronto

The dining room.

The main floor, with an open-concept floor plan, wide plank white oak flooring, and custom built-ins, is beautiful.

325 Perth Avenue Toronto

The hidden powder room beside the dining room.

There’s also a cheeky hidden powder room on the main floor and the custom kitchen is sleek and modern with quartz counters.

325 Perth Avenue Toronto

The family room.

The 16-foot addition at the back of the house is now a cozy family room that walks to the back garden and is filled with natural light.

325 Perth Avenue Toronto

What was formerly the primary bedroom is now another bedroom upstairs.

Upstairs, there are three bedrooms, including a completely new primary suite.

325 Perth Avenue Toronto

The new primary bedroom.

It has soaring ceilings, double closets, and an ensuite bathroom with a deep soaker tub, walk-in shower, and double vanity.

325 Perth Avenue Toronto

The lower level unit.

The basement has a separate entrance and could be used as an income-generating space as it has a kitchen, bedroom and bathroom.

325 Perth Avenue Toronto

The bedroom in the basement.

And if one income-generating space wasn’t enough, there’s also the laneway house at the back of the property.

325 Perth Avenue Toronto

The laneway house with a garage.

The laneway home is similar in design to the main house – modern, bright, and airy.

325 Perth Avenue Toronto

The kitchen in the laneway house.

It’s a studio apartment with about 400 square feet of living space, as well as parking and a storage room. It also has its own laundry, making it ideal for tenants and guests alike.

325 Perth Avenue Toronto

The backyard with storage.

Currently, the laneway house is tenanted for $1,700 a month.

325 Perth Avenue Toronto

The back of the house with two decks.

This home really went from a snack to the full meal deal.

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New to Canada? Here's how to purchase or rent a home – CTV News

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Judge rules Donald Trump committed fraud – CTV News

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