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National
Press Release
Media Release
Contact:
John R. Dempsey
E-Mail: classaction_cpa@hotmail.com
http://www.freewebs.com/classaction/
April 15, 2005
FOR IMMEDIATE RELEASE
New Westminster, B.C., April 15, 2005. John Ruiz Dempsey BSCr,
LL.B, a criminologist and forensic litigation specialist filed a
class action suit on behalf of the People of Canada alleging that
financial institutions are engaged in illegal creation of money.
The complaint filed Friday April 15, 2005 in the Supreme Court of
British Columbia at New Westminster, alleges that all financial
institutions who are in the business of lending money have engaged
in a deliberate scheme to defraud the borrowers by lending non-existent
money which are illegally created by the financial institutions
out of “thin air.” Dempsey claims that creation of money out
of nothing is ultra vires these defendants’ charter or granted corporate
power and therefore void and all monies loaned under false pretence
contravenes the Criminal Code. The suit which is the first
of its kind ever filed in Canada which could involve millions of
Canadians alleges that the contracts entered into between the People
(“the borrowers”) and the financial institutions were void or voidable
and have no force and effect due to anticipated breach and for non-disclosure
of material facts. Dempsey says the transactions constitutes counterfeiting
and money laundering in that the source of money, if money was indeed
advanced by the defendants and deposited into the borrowers’ accounts,
could not be traced, nor could not be explained or accounted for.
The suit names
Envision Credit Union (“Envision”), a credit union; Laurentian Bank
of Canada (“Laurentian Bank”), Royal Bank of Canada (“Royal Bank”),
Canadian Imperial Bank of Commerce (“CIBC”), Bank of Montreal (“BOM”),
TD Canada Trust (“Canada Trust”) and Canadian Payment Association
(“CPA”) as civil conspirators. The plaintiff in the lawsuit is seeking
recovery of money and property that was lost by way of confiscation
through illegal “debt” collection and foreclosure. The Plaintiff
is also seeking for the return of the equities which rightfully
belongs to the People of Canada, now being held by the defendant
financial institutions as constructive trustees without color of
right.
At all material
times, these defendant banks and all of them have no legal standing
to lend any money to borrowers, because:
1) these banks
and credit unions did not have the money to lend, and therefore
they did not have any capacity to enter into a binding contract;
2) the
defendants did not have any cash reserve, they are not legally permitted
to lend their depositor’s or member’s money without expressed written
authorization form the depositors, and:
3) the
defendants have no tangible assets of their own to lend and all
their “assets” are “paper assets” which are mainly in the form of
“receivables” created by them out of “thin air,” derived out of
loans whereas the monies loaned out were also created out of thin
air. Other than bookkeeping and computer entries, no money or substance
of any value was loaned by the defendants to the Plaintiff.
In all of the
loan transactions entered into between the Plaintiff and the Defendants,
the financial institutions did not bring any equity to any of the
transaction. All the equities were provided by the borrowers. The
practices of the defendant financial institutions alleged in the
complaint starkly contrast the practices of responsible and ethical
money lenders who actually lend real, tangible, legal tender cash
money.
The complaint
alleges that the loan transactions are fraudulent because no value
was ever imparted by the defendants to the Plaintiff; these defendants
did not risk anything, nor lost anything and never would have lost
anything under any circumstances and therefore no lien has been
perfected according to law and equity against the Plaintiff.
The foreclosure
proceedings which comes as a result of the borrower defaulting on
such fraudulent loans were carried out in bad faith by the defendant
banks and credit unions, and as such, these foreclosures were in
every respect unlawful acts of conversion and unlawful seizure of
property without due process of law which always results in the
unjust enrichment of the defendants.
The suit alleges
that the defendants utilize fraudulent banking practices whereby
they deceive customers into believing that they are actually receiving
“credit” or money when in fact no actual money is being loaned to
their customers. However, the complaint describes a practice whereby
there is realistically no money other than ledger or computer entries
being loaned to the borrowers. Rather than real money being received
by the borrowers, “electronic” or “digitally created money”, created
out of nothing, at no cost to the financial institutions are entered
as “loans” into their customers’ accounts. The borrowers are then
required to pay criminal interest rates for the money they never
received. The suit alleges that the defendants effectively turn
consumers into virtual debt slaves, forcing them to pay for something
they never received, and then seizing their properties if they can
no longer pay the banks with real money.
There is no
law in Canada that could remotely suggest that the defendant financial
institutions have the legal right to create money out of nothing.
Dempsey says: “only God has the power to create anything out of
nothing.” The class action suit, the first and the biggest of its
kind in Canada is intended to give the justice system the opportunity
to prove itself to the People of Canada who is really in control
or whether they would continue to allow itself to be used by the
banks as a tool in their unlawful and fraudulent banking practices
which always ends in the enslavement of the people and confiscation
of the people’s properties.
Two other class
action suits were filed by John Ruiz Dempsey against the banks.
The first one was filed by Dempsey on behalf of Ian Dennis Gravlin
of Calgary, Alberta and Pavel Darmantchev of Kelowna, B.C. versus
the Canadian Imperial Bank of Commerce. This matter is set for case
management conference hearing on April 26, 2005. The Plaintiffs
expects a stiff opposition from the defendant’s law firm. Madam
Justice Garson is the case management judge assigned to the case.
A second class
action suit was filed against MBNA CANADA BANK on behalf of Pavel
Darmantchev of Kelowna, B.C., Ian Dennis Gravlin of Calgary, Alberta
and Dena Alden of Vancouver, B.C.
http://www.freewebs.com/classaction/People's
SOC.doc
See Latest Update:
Press Release:
http://www.freewebs.com/classaction/PressReleaseStrike2.doc
We hit Canada
News Wire - nation-wide.
http://www.canadanewswire.com/en/releases/archive/August2005/24/c2716.html
HOW
TO JOIN THE CLASS ACTION:
We need the
following information:
Or
Send above information to: classaction_cpa@hotmail.com
or classproceeding@yahoo.ca
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