ROTFLMAO.....
B.C. Securities Commission -
Antigua's notorious ex-director pops up in Phoenix
B.C. Securities Commission BCSEC
Shares issued 0 1899-12-30 close $0
Tuesday May 18 1999
See Antigua Enterprises Inc (ANE) Street Wire
by Brent Mudry
While the regulatory manhunt for fugitive financier Brian Slobogian has proved fruitless so far, there is some evidence the errant Eron Mortgage founder has been seen in Howe St. South, Phoenix, Ariz., recently. Mr. Slobogian apparently vamoosed from Vancouver soon after the British Columbia Securities Commission and the Financial Institutions Commission of B.C. stepped in to shut down his Eron Mortgage empire in October 1997. With regulators and creditors, including investors who have lost most of their $200-million entrusted to Eron, anxious to locate Mr. Slobogian, his present whereabouts are a well-kept secret of his wife Onalee and his lawyers David Crossin and John McLean. At a BCSC hearing Monday, Ms. Slobogian was about to answer whether her husband is, as rumoured, in Nevada, before her lawyer Robert Gourlay intervened.
The fugitive financier appears to be spending his time in sunnier climes, judging by recently-filed court documents. Mr. Slobogian made at least a cameo appearance in Phoenix three weeks ago, according to an affidavit filed April 28 in a receivership action in the Supreme Court of British Columbia. Mr. Slobogian signed the affidavit to explain his version of a $100,000 loan made to Kevin Brown, an Eron mortgage broker, in July 1997, three months before Eron collapsed. The fugitive financier's signature was witnessed by Wayne D. Whitney Sr., a Phoenix area notary public, on April 21.
Mr. Whitney, who operates as ABC Legal Forms and Notaries, cannot readily recall his notorious client. When asked if the name Slobogian rings a bell, Mr. Whitney told Stockwatch: "it really doesn't." "I do a lot of them in a day," explains the busy notary. "It did not stand out," says Mr. Whitney.
The affidavit was also filed as an exhibit to a May 10 bankruptcy affidavit, showing how difficult it is to find the errant Eron head. Mr. Slobogian's lawyers have little trouble locating their controversial client, however. "I have had numerous conversations with Mr. McLean over the last year involving either this action or issues arising in the judicial trusteeship. Mr. McLean seems to be in contact with Mr. Slobogian frequently and easily," states lawyer John Grieve in his own affidavit.
Mr. Grieve, serving the judicial trustee, notes that numerous efforts to serve Mr. Slobogian in West Vancouver, where he resided most recently at 2250 Folkestone Way, a security-coded home, have been futile. "Within the last several weeks Mr. McLean of Davis & Company has also been conducting negotiations with me on behalf of Mr. Slobogian," states Mr. Grieve.
Mr. Slobogian's own bankruptcy file notes he owes at least $1.27-million to Eron Financial Services, the Slobogian family management company. In an April 14, affidavit, Richard Pallen, senior vice-president of PricewaterhouseCoopers, the court-appointed received of Eron Financial, notes transaction summaries of a loan account with Mr. and Ms. Slobogian in Eron Financial's general ledger, from Nov. 1, 1996, to Oct. 3, 1997. The summary notes a total amount outstanding of $877,188 on the couple's shareholder loan account and $400,000 outstanding on an Eron Financial housing loan to Mr. Slobogian and his wife.
The couple made a big move in spring 1996 as Eron was taking off. Mr. and Ms. Slobogian sold a house in North Vancouver, assessed at $412,000, and bought a home in West Vancouver, assessed at $1.2-million. The couple later moved from this house, at 2253 Palmerston, to the Folkestone address.
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