Hello Everyone! Today was the injunction hearing with League. The purpose of the hearing is to prevent the defendants, namely myself and Allison Barber and the “other internet people” from calling League Ponzi schemers and fraudsters in the future.
What Is The Definition Of Ponzi?
One of the major points of contention is the definition of Ponzi and what that is exactly. Ms. McGrann League’s lawyer said “It’s only a Ponzi if they have no assets and they never buy any assets and the entire thing is not a legitimate business” while I thought that in the vernacular (the way normal people speak or talk), Ponzi simply refers to a scam, more specifically a scam where new investors pay out the old investors. We both relied on R. v. Mazzucco, 2012 ONCJ 333 to make our arguments.
This is going to be a major, major issue in the defamation hearing when it comes around.
I’m Proud of Myself
I can not over emphasize to readers how much work it was just to oppose this injunction and oppose the statement of claim. We are already dealing with thousands of pages of documents. Just preparing the exhibits is an imposing tasks with a lot of collating and organizing and making copies. Just to let you know, I highly recommend Staples for Cerlox binding. It cost me just $21 to make some very nice books for the court. Then it cost $80 to ship the stuff for the next day to Vancouver.
Standing up for yourself and your principles takes a lot of balls. That is what I have found. It is frightening. I am at a disadvantage because I am on a severe learning curve especially with the forms, the proper way to serve documents, even the proper way to address the court. I have to learn that and also defend the facts of their case.
Rights Are Not Rights Unless You Defend Them
This is the same issue that I’ve brought up with different landlord issues in the past, unless you are willing to defend your rights legally… then you have no rights. Nor do you really deserve any. We all stand on the shoulders of giants when it comes to law and we are all in the process of shaping the law for generations to come. Both our action and our inaction are important.
I cannot tell you how many people have told me that I’m crazy for even trying to do this. “What do you care?” “You don’t even know these people?”
Maybe one day some other poor blogger will be referring to League v Berube for the definition of Ponzi scheme and context on the internet to use in their defense. Personally today I’m very grateful for another website DeepCapture.com for a case Nazerali v. Mitchel spawned by their defense of their website.
I’m Also Torturing Myself
As I sit here tonight, I keep thinking about all the points I wish I had used, how I failed to point out the company structure and how the companies are linked together, from League Investment Services Inc that sells the securities to investors and takes a percentage and then to the different limited partnerships with League Assets Corp working as the management company charging more fees for “Asset Management” and siphoning any stray dough. I even forgot to mention the $99,000,000 in co-mingled loans. For all these reasons, I’m continually replaying the case in my head and wondering if I could have done a better job of saying what I wanted to say. So here’s myself telling myself I’m a douche and kicking my own ass and replaying everything in my head over and over. This too shall pass.
It Was Nerve Wracking
I felt extremely lucky to be allowed to attend by telephone along with Ms Barber. Because of the time difference I had to spend hours just waiting for the hearing, obviously this was difficult. Because of a procedural issue we did not even know if we would be allowed to attend by telephone. It did not help that I was up 3-4 hours before the birds even started chirping in B.C.
After hearing everything we had to say, the judge decided to wait and think about his decision. He’ll probably decide within a few days I hope. One good thing is that the case law for over 100 years is in our favour. Most of the time, the judge will not restrain future publications. According to my understanding, this decision will only affect specific wording of future writings. We will see.
I’m Keeping My Fingers Crossed