Blog: Crowe MacKay & Company: In the News

November 16th, 2015

Formerly high-flying Vancouver developer faces BCSC fraud allegation

Vancouver developer James Schouw, who brought some high-profile developments to the market during the boom years, faces fraud allegations related to one of his downtown projects that hit rocky times during the post-recession real estate bust in 2009.

And earlier this year the company that he incorporated to build the luxurious Artemisia residences was ordered into bankruptcy owing unsecured creditors just under $6 million, according to a filing by the company’s trustee, Crowe & MacKay Co. Ltd.

The British Columbia Securities Commission this week issued a notice of hearing alleging Brendan James Schouw (he goes by James) solicited $1-million from an investor in 2009 for the Artemisia project at Hornby and Helmcken, promising to use the money to advance the development, but using little of it for that purpose.

Read the full Vancouver Sun article here.

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