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Extravagant Needs Override Trustworthy Creditors
Public records indicate alleged TCI Investment scammer has a perpetual habit of not paying his debts.

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FROM THE MAN’S DEN | BY MICHAEL LALIBERTE | APRIL 2013 

Don’t go around saying the world owes you a living. The world owes you nothing. It was here first!
Mark Twain

Ross lost his job with an Assurance Company when company auditors discovered he forged a four thousand dollar cheque. Ross Alexander seemingly held himself out as an Insurance Broker for various other Life Insurance Companies. 

In the Mid 1990,s Banks were promoting Lines of Credit, along with Credit Cards to entice new customers. Based on an applicant’s earnings, Banks would establish a Line of credit limit that didn’t require any security; just proof of income and a job.

It appears Alexander must have rubbed his hands with joy over this. It plays right into what he is doing today. Making promises to pay people that never seem to come true. 
By flaunting an income as 80,000 per year in 1994, Alexander hit up three Banks and racked up 71,500 in credit card and lines of credit debt. 

Alexander in 1996 was co-owner with his wife of a lovely, sprawling ranch located at 3 Aspen Place in Lambeth, Ontario. 

Heavily mortgaged between 1st and 2nd lenders in the amount of 420,000, it only sold for 335,000. It’s obvious that Alexander’s personal debt load with these two mortgages, the pressure in meeting the monthly payments was beginning to cause stress for him, but the Trustees weren’t buying the stalling techniques he is known to use today. 

Other debts suggest Alexander owed money to various other Life Insurance Companies, rather than them owing Alexander earned commissions in the amount of 71,000, in 1996.

It appears that Alexander chose to free up his income to spend on himself rather than paying his debt loan requirements. 

It was on May 10, 1996 that fifty-two year old Ross Clark Alexander plunked his broke ass down in one of the office chairs at Price Waterhouse Limited [PWL]; a Trustee in Bankruptcy in London, Ontario. 

Alexander expresses in his Statement of Affairs, “I’ve been unable to pay my debts as they became due.” What he doesn’t say here is that everyone he came in contact with he hit up for money. 

The PWL Trustee asserts that Alexander “did not disclose all his debts at the time of filling the assignment or during preparation of his statement of affairs.”

It is known that Alexander was hitting up Church goers and others in the TCI scheme, but none have been mentioned on his official date of bankrupt assignment dated May 14, 1996. 

With claims filed by creditors with the Trustee totaling 585,465 the Trustee lists several grounded causes of Bankruptcy. What is shocking though is that one those creditors who opposes Alexander’s discharge alleges fraud and misrepresentation. 

In their letter sent to the Superintendent of Bankruptcy we obtained from public records, Central Ontario Insurance Agencies who filed claims totaling 32,000 assert, ‘Mr. Alexander obtained credit through our organization by fraudulent means.’ They relied entirely on statements made verbally and in writing with respect to his credit worthiness. 

The managing partner also asserts, “Mr. Alexander fraudulently used his position as a life insurance agent to write fictitious applications for the purpose of generating commissions.” 

The PWL Trustee agrees there were chargebacks on cancelled consumer and commercial insurance policies totaling ,000 with claims made by Maritime Life, and Central Ontario Insurance. 

This could suggest that when Alexander was reporting his earnings to obtain bank lines of credit and perhaps mortgages, ultimately the income he reported was essentially fictitious. 

PWL asserts in their report that Alexander did not perform the duties imposed upon him under the Bankruptcy and Insolvency Act. He failed to submit his affidavit of Income and Expenses as required, and failed to communicate with the Trustee. 

Alexander’s signed promises to pay weren’t worth the paper they were written on. 

Alexander had surplus income and was to remit 1,000/mth or (9,000) up until his Discharge Hearing in April, 1997, along with another signed promise to remit 3,700 for his share in the expensive home furnishings. He failed to do so, but to his credit he made a 200 payment. 

In the Ontario Court (General Division in Bankruptcy) on April 9, 1997 Alexander’s Discharge hearing was adjourned without establishing a future date, PWL and Central Ontario Insurance Agencies were there to oppose any discharge. 
After five years, in 2002, Alexander was discharged after paying PWL his obligations as a Bankrupt. It’s a mystery where that money came from since he was officially unemployed. But most of the money owed was never repaid to his creditors. 

Alexander, in his Affidavit dated April 9, 1997 stated that he did not acquire property that has not been disclosed or turned over to his trustee. 

Lucky for him he did not sign another Affidavit for his Discharge in 2002; this would have been a criminal offence under the Bankruptcy Act. 

However, technically, while Bankrupt it is Law under the Act that “a Bankrupt has to disclose all acquired assets to the Trustee, prior to any discharge”, asserts Paul Pickering a Trustee in Bankruptcy.

From other public records obtained, Alexander asserts in his defence filed with the Ontario Superior of Justice along with co-accused with William Charles Rath in the TCI Investment Club Class Action lawsuit, that both Alexander and Rath were victims too. 

Alexander states he invested in 1998 the sum of 10,000 through Arcadia Resources by wiring funds to a bank in Ireland, also one year later he invested a further 20,000 through Arcadia Resources.

These assets were acquired during the Bankruptcy of Alexander which ran from 1996 to 2002. You will notice that these dates encompass the whole time period of the TCI Investment scheme, up to the point that payouts were ceased.

It has not been determined if PWL will annul Alexander’s Bankruptcy, however calls made to the Toronto offices of PWL state” this might be worth looking into.” 

It is evident that this man uses the appearance of opulence to influence others in handing over their money to him. His charm and elegant words of assurance have hurt many in his Bankruptcy proceedings, and his well-mannered nature is used as a weapon to abuse his/ other peoples’ trust. Just think what he has done here to these reputable and trustworthy creditors, and consider what he is really up to while sitting in front of YOU.

FROM THE MANS DEN | BY MICHAEL LALIBERTE |