A vigilante investor looking to even the score? Who knows? Robbery seems like a weak motive.

Mamdani is the CEO of Strategic Group, which claims to be the largest private landlord in Calgary. A company spokesperson denied the accusations leveled at him, saying, “We are victims of this fraud similar to the limited partners.”
Companies under the Strategic umbrella owned mortgages on every property Platinum acquired, according to the plaintiffs’ statement. Platinum sold investors $25,000 or $50,000 partnership units in those holdings as exempt securities, without a prospectus.

Platinum proved a shoddy manager. Buildings began losing tenants and revenue. In time, Mamdani foreclosed on loans Strategic entities made to Platinum and bought back buildings at much-reduced prices, say the plaintiffs. Many lost their entire investment.

http://www.canadianbusiness.com/investing/another-property-investment-scam-in-alberta/