Canaccord Capital Inc
			Symbol			CCI
			Shares Issued			55,359,489
			Close 2009-11-04			C$ 11.22
			Recent Sedar Documents

Canaccord receives Poonian's answer to debt suits

2009-11-05 14:41 ET - Street Wire

Also Street Wire (C-GPI) Great Pacific International Inc
Also Street Wire (C-SNL) SNL Enterprises Ltd

by Mike Caswell

Surrey promoter Thal Poonian and his wife Sharon have responded to debt suits they face from Canaccord Capital Corp. Without providing any details, the Poonians deny that they failed to pay a $205,506 debt to the brokerage, and ask that the judge dismiss the lawsuits with costs. The Poonians filed two identical, one-page statements of defence on Oct. 20, 2009.

Canaccord sued the Poonians in the Supreme Court of British Columbia on Sept. 2, 2009, alleging that they failed to pay debit balances in their trading accounts. The brokerage filed two very brief, nearly identical statements of claim. One named Mr. Poonian as a defendant and the other named his wife.

In those suits, Canaccord claimed that the Poonians opened trading accounts at the brokerage on Feb. 6, 2004, and Aug. 4, 2005. They then instructed Canaccord to buy securities and debit appropriate amounts from their accounts. The transactions left Mr. Poonian's account in a debit position of $72,460, and his wife's account in a debit position of $133,046, the suit stated.

Canaccord claimed that the Poonians had agreed to pay all debit balances promptly, but they failed to do so. It said it unsuccessfully demanded payment before filing the suit.

The brokerage sought judgments of $72,460 and $133,046, plus interest, costs and general damages. Canaccord is represented by David Mitchell of Miller Thomson LLP. The Poonians are represented by Bob Breivik of Breivik & Company.

In the market, Mr. Poonian is the president of SNL Enterprises Ltd. ($0.05) and Great Pacific International Inc. ($0.09).

Reader Comments - Comments are open and unmoderated, although libelous remarks, including names, may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.

So any ol promo dopo can walk into Cannacrap and rack up 200k in debits for chit trading at less than a dime?

Well Helllloooo Canacrap. Methinks there will be a lineup a mile long of VSE scumbag promoters opening acounts.

Posted by Cannacrap Business Development @ 2009-11-05 15:21

The Brokerage firms were not the only victims of Poonian. Thal had no problem crying the blues on how he was taken advantage of, while in fact it seems he had little intention of paying many who went out of their way to help him succeed. This lawsuit brings the ugly truth out into the light in regard to Mr. Poonian. I am sure many would be pleased to testify against this "Surrey Promoter." Sadly it is people like Thal who gives both Surrey and Promoters a bad name.

Posted by Book Critic @ 2009-11-05 16:00

Surrey promoters? I prefer West Van promoters myself. I suggest Surrey stick with what they do best - (not sure what that is) and leave the promoting to the professionals on the other side of the river. Now if I can only remember that gold deal touted to me at Joe Fortes......

Posted by Du-rag @ 2009-11-05 17:53

I sending all my east side crack buddies to open accounts at canofcrap, they will each buy 200k worth of my pink sheet junk stock on the cuff and grease them for 25% ....I will be rich, rich, rich!

canofcrap is easy pickings, their greed and stupidity outweighs an compliance....

canofcrap deserves to be ripped off!

Posted by Crack Promoter @ 2009-11-05 18:16

Sorry my friend, you have been doing to much of your own product. Vancouver can't do Pink Sheet deals anymore...no one will take an order if they can't sell it...even if you have a legitimate Pink Sheet certificate it is null and void in B.C.

Posted by Book Critic @ 2009-11-06 12:00

Big deal, have have meth friends who deal in TSX trash, same thing, bleed canofcrap dry from their own greed.

Posted by Crack Promoter @ 2009-11-06 15:57

You have the placed the TSX in the trash category and list your friends as crackheads. Well you know what they say...birds of a feather flock together. Maybe you should change your friends, quit using your own product and come back to reality. You just might make better sense.

Posted by Book Critic @ 2009-11-07 15:23

Canaccord will always be a small time bucket shop, its in their nature.

Posted by Fat Old Dog @ 2009-11-08 23:14

The two companies he is President of must be trustworthy, as they are still trading. I'm loading up.

Posted by Walterd @ 2009-11-10 01:11

This all begs the question???? WHAT ABOUT THE RIG?????? IN aMBLESIDE

Posted by zoca @ 2009-11-10 09:55

Add a new comment

Here is a word in <i>italics</i>.
Click <a href="http://www.stockwatch.com">HERE</a> to go to Stockwatch.