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Dale St. Jean's Ponzi Scheme
TransCap Corporation
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By Edward Snook
Investigative Reporter

 

 

Ponzi Agent Blair Carmichael

The president of TransCap Corporation of Canada, Dale St. Jean, has succeeded in bilking scores of unwary investors out of literally millions of dollars. Promising investors, “secured principle” investments (loans) and heavy interest rates, has worked like a “charm” for St. Jean and just the opposite for his victims.

Dale St. Jean structured and fronted TransCap so as to make it appear as a legitimate, strong and established company. The reassuring paperwork and level of security implied by agents, helped to convince investors that TransCap was a safe and sound investment. TransCap’s security statement reads, “Loaned funds can only be utilized for Qualified Transactions.” For years, St. Jean and his agents have maintained the false claim of investor’s principle being secure.

St. Jean’s TransCap Corporation of Calgary, Alberta, Canada has reportedly been declared a Ponzi by a Canadian government investigator. President Dale St. Jean has been assisted in his alleged fraudulent activity by Gregory Tindall, agent Blair Carmichael and presumably, most if not all other agents in Canada, the United States, the UK, Australia and New Zealand.

Edmonton, Alberta agent Blair Carmichael is believed to have taken a very active role in the alleged, blatant defrauding of investors. Carmichael’s suspicious activity, including reported lies and outright contradictions, caused him to be one of the weak links that exposed the Ponzi. According to Observer sources, Carmichael has misled investors and will be severely reprimanded.

Canadian law-enforcement recently encouraged a client of TransCap Corp. to file a complaint after Blair Carmichael threatened the client with causing “trouble” and claiming him to be in breach of a signed confidentiality contract. Confidentiality agreements are common-place with Ponzi schemes as the promoters of such schemes attempt to conceal their criminal actions.

Related Scams

Dale St. Jean was listed as a board-member of Arcanum and Vestium, two investment funds ran by a complete scam-artist named Robert Buckhannon of Las Vegas, Nevada. Arcanum and Vestium recently filed for protection from investors by filing bankruptcy, however US~Observer claims that these funds are blatant Ponzi schemes remains unchallenged. It would appear to this writer that Mr. Dale lives in a world of fraud, surrounded by people without a conscience.

History on US~Observer Represented TransCap Clients

The family represented in this article sold their grain farm after the sudden passing of their senior husband and father. There was simply too much of a workload to carry on without the good man. Forced to forge a new beginning for themselves, it was necessary to also seek out investment opportunities. Unfortunately, they were soon drawn in by the cunning facade of Blair Carmichael as he touted and proclaimed the virtues of TransCap. With false representation of the absolute security and stability of TransCap, Carmichael convinced the people to entrust their hard earned savings to Dale St. Jean’s Ponzi scheme.

The extended family had made their initial investment in February 2006, with installments continuing for the next two years, for a total of 1.8 million dollars. When asked point blank if their principle could ever be lost, Carmichael reportedly stated, “absolutely not” and declared their money as being as safe as in the bank. The family was reportedly convinced to quit their jobs and solely rely upon the funds generated by TransCap.

Carmichael and Dale St. Jean fully exposed themselves for the immense cowards they are, when In December 2009, a member of the invested family’s young son had tragically been killed in a car accident. In tears, the bereaved father approached Carmichael and kindly requested him to obtain from St. Jean the much needed funeral funds. Carmichael reportedly stated the funeral home could wait to be paid. The family then laid their handsome young son to rest as they struggled to pay for the funeral. Soon afterwards, St. Jean claimed his young daughter was ill and required medical treatment in Florida. St. Jean then asked investors for their “understanding and patience.” St. Jean’s and Carmichael’s cold-hearted responses to the grieving family were deplorable, yet the “sick-daughter” excuse was exactly that, an excuse to further delay paying angry, damaged, investors in-need.

An article posted by the US Observer had alerted the family to St. Jean’s past history with Ponzi schemes, to which Carmichael downplayed when confronted with this information. Carmichael’s alleged lies and deception were quickly seen through when interest payments stopped and excuses flowed one after another. Carmichael then allegedly furthered his guilty appearance by proclaiming a strong disdain for the regulatory structure of the Alberta Securities Commission. Reportedly, in an angry, most chilling outburst, he insisted that investor’s funds no longer belonged to them!

This gang of Dale St. Jean, Gregory Tindall, and Blair Carmichael, apparently believe it to be their God given right to steal people’s hard earned money. Whether defrauding families raising young children or taking from retired seniors, there appears to be no conscience or remorse felt or expressed. What was to be a stable financial future has now become anything other for the farm family. They’ve been forced to put their homes up for sale and make major cutbacks in every financial aspect possible.

St. Jean recently informed investors that he was turning TransCap over to a Trustee in Australia and has since informed investors that he has sold TransCap for $1. The US~Observer cautions anyone who has invested with TransCap Corp; don’t send TransCap or any third parties another dime; immediately file complaints with the Alberta Securities Commission and above all else realize that Dale St. Jean and each person who helped him promote his Ponzi scheme are liable. These people have property purchased with “stolen” funds and they need to pay for their alleged crimes. Innocent investors need to be re-paid and the alleged con-men need to go to prison upon conviction.

Anyone with information about TransCap or any of TransCap’s agents are urged to contact Edward Snook at 541-474-7885. Pictures of Dale St. Jean and his agents should be sent to Edward Snook via email to ed@usobserver.com.

Edward Snook’s Note: If they have one ounce of integrity, the Canadian Securities Commission and the Canadian Justice Department will immediately go after all individuals who have promoted TransCap Corporation. They should locate and seize their property and return it to the investors who paid for it, after an expedited hearing on the matter. The US~Observer will be watching closely and provide updates to our readership as they occur.

A tremendous Canadian family, who worked for decades to build a dream, has had their estate taken from them by bad individuals who parade around as investment experts with “secure” investment opportunities. This is not okay and the Observer publicly informs these scam-artists that this issue is not going away until this family has every dime of their investment principle returned to them… Dale St. Jean and his crew can absolutely put this fact “in the bank.”

As we prepare to go to press with this edition, we received a “NOTICE AND DEMAND TO THIRD PARTY INTERVENERS” from Dale St. Jean, Greg Tindall, and Blair Cameron Carmichael. In the US~Observer’s highly qualified opinion, these three are complete lunatics, common criminals and obvious thieves. They claim, in their “common law style” paperwork that if Edward Snook doesn’t supply them with all kinds of non-existent information within ten days, they “may” commence an “Information on Behalf of Her Majesty the Queen in the Court of Queen’s Bench in Calgary, Alberta” for the following violations of Canadian Criminal Code: Extortion, Fraud, Intimidation, Willfully causing an event to occur, Mischief, Fabricating Evidence and Criminal Harassment. I actually started laughing out-loud when I read their documents as well as receiving more of an insight as to how they were able to get so many naive people to invest with them. To all the investors who still think they will get their money back – I feel really sorry for your desperate, yet blinded condition. You can’t spend excuses people! As for St. Jean & Company – Please file with the “Queen,” my readership will love the story…

Note from a family member: Our family’s loving father had often toiled until well into the middle of the late night and worked harder than anyone we had ever known. When I asked him why he had worked so intensely hard, he replied, “I do it for my family, so you can have a good future when I’m gone.” He was truly the most wonderful man and a much respected pillar within the community. So very hurtful is how Carmichael and Dale St. Jean have stolen and raped our deceased father and our family of all those years, of such tremendously hard work.

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