Canadian Real Estate Wealth and Neil Sharma sincerely apologize to Romspen Investment Corporation and Romspen Mortgage Limited Partnership (collectively, “Romspen”) for the article entitled “Lawsuit alleges mortgage lender is a ‘Ponzi scheme’” published on August 18, 2021 (the “Article”).
The Article did not fairly or accurately report on the court proceedings that it describes involving Romspen and Daniel White (“White”). In writing the Article, Mr. Sharma relied on White and pleadings White had filed or pleadings that were filed and subsequently withdrawn, as well as information provided to him by David Franklin.
Before the Article was published, Romspen provided Mr. Sharma with documents about the court proceedings described in the Article that gave Sharma the knowledge and opportunity to fairly report on those proceedings. Mr. Sharma ignored or disregarded this information and prior reporting and failed to conduct a proper investigation or due diligence before writing the Article. Overall, the Article was not an example of fact-based reporting.
Canadian Real Estate Wealth and Mr. Sharma had and have no basis to suggest that Romspen is or operates a Ponzi scheme or engages in loan-to-own transactions. Canadian Real Estate Wealth and Mr. Sharma regret the error and any harm that it caused to Romspen.