Allen-Vanguard Rescue Board Message Board

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Technology Stocks : Allen-Vanguard Rescue Board

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From: beaverfever	11/10/2009 9:11:43 PM
	2 Recommendations of 724

Anyone received a status update from EDC on their compliance investigation of Mr Peter Allen ? For those who don't know he was the former VP and CFO of EDC, before he became the CFO of Allen-Vanguard. I am not an expert in compliance investigations, IMHO there is an appearance of ethics, moral and integrity violations when EDC loans funds to enable the sale of his company, and permit his job being secured under new ownership. Another tidbit about Peter Allen than some find interesting, he was hired less than a week after Allen-Vanguard signed a loan with RBC - which later proved to have very difficult terms. I find it strange when a CFO is hired less than a week after major financing (like he probably didn't have anything to do with it). Luxton got the major RBC financing completed, AND he had time to court and hire a new CFO all within a week !!! Another item about Peter Allen that I find strange is that despite his connections, he didn't ask EDC for refinancing when RBC loan payments were getting missed - but Versa Capital gets a red carpet rolled out for them by EDC. If anyone hears from EDC on the investigation status, please post an update for the board, it should be entertaining.

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