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Site Last Updated:   Nov 20 2009 12:33PM
‘Reverend’ sued by developers for loan theft


2008/11/10

CLAIMING they were duped out of R1.5million (150000), developers of Trump Tower Tampa in the US, have sued an ex-convict from Indiana who failed to deliver a R2billion loan.

SimDag LLC is pursuing civil theft charges against a self-proclaimed clergyman who goes by the name of the Very Reverend Father Barney Canada. He spent three years in federal prison for ripping off businesses in the 80s and 90s.

Canada ran an “advance fee scheme” in which he collected millions of dollars in fees but failed to deliver loans. With the implosion of the real estate market, SimDag filed for bankruptcy in June.

The lawsuit against Canada falls within the confines of the bankruptcy court. — © 2008 New York Times News Service




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