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Harry Stinson's last stand
Toronto real estate developer and promoter extraordinaire, Harry Stinson, failed to pay an undisclosed sum of money to David Mirvish by July 31. "Unfortunately, I have lost a great deal of money, and I have lost all confidence in Mr. Stinson as a person with whom to do business."
"Unfortunately, he is not competent to run the businesses operated by SHI and Club Corp." states Mirvish in an affidavit. At the end of last week, Mirvish filed a notice of motion in Superior Court seeking to have Harry Stinson removed from the operations at 1 King West.
See article in today's Toronto Star ยป
August 8, 2007 in Real Estate Personalities | Permalink
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Comments
Mirvish deserves to get his financial ass kicked, he got greedy, lent his name and family credibility to an ill conceived project, which in turn drew in investors that elsewise wouldn't have gotten involved...as they believed in his perceived schrewdness...he hooked up his wagon to the HS smoke show and others followed suit in kind.
Posted by: Peter | Dec 13, 2007 3:04:26 PM
I have read so much about this guy. Being a member of real estate investment clubs I cannot believe how all these people have been conned. First off 20% return on bond investment was a tip off and also a guaranteed return of 10% in the Hotel Pool was a scam. I remember sitting in my hotel room watching his infomercials and knew instinctively that this guy was pulling off a scam. He was basically selling securities without oversight. Then I read in the papers he is going into recievership. No surprise here. This guy owes money to everyone in Toronto. I hope he is stopped before the investors lose even more money.
Posted by: Brian Tillhorn | Aug 11, 2007 3:40:56 PM
I know many people who invested in his Saffhire Tower scheme, and got stiffed along with his Stinson Fund, promising 16% on his junk bonds. They too got stiffed and are trying to get their money back. He is the master of deception. The ultimate con man. I hope the law catches up with him.
Don
Posted by: Don Peterson | Aug 10, 2007 8:09:26 PM
Harry has built his name on a house of cards and deception. The truth about Harry is coming out along with a long list of people and investors he scammed. David Mirvish got stung the hardest $50mil in unpaid debt.
Paul
Posted by: Paul Egan | Aug 10, 2007 8:01:43 PM
