David Franklin B.Comm., JD was elected to the Board of Directors at the annual general meeting held October 22, 2019
David graduated from Osgoode Hall Law School, York University with a JD (juris doctorate) and was called to the Ontario Bar in 1973. His practise includes real estate law. In 2012 he co-authored the book 'Buying U.S. Real Estate'. He was inducted into Worldwide Who’s Who for Excellence in Real Estate Investment the following year.
In 2015 David became concerned with the growing problem of mortgage fraud in Canada. In response he began assisting the public by posting educational information and articles on his own website. Following what was arguably the largest mortgage fraud in Canadian history involving a $920 million scam and Fortress Real Developments Inc., David successfully pushed for an RCMP investigation and brought in the OPP as well, involving another $93 million copy-cat scam. He was then instrumental in convincing the Ontario Government to close its Financial Services Commission of Ontario (FSCO) for FSCO's failure to protect the public.
In 2017 David participated in a legal conference, along with professors from Europe, Africa, U.S. and Canada that had been organized by the late Professor Margaret Beare at Osgoode Hall, York University. Among other things the conference unmasked the fiction that government financial regulators are created by governments to protect the public. In reality, the public has been instilled with a false sense of security.
David is concerned that because government created regulators rely on the fact that most investors do not read or understand financial disclosure documents, the number of complaints they receive only represent the tip of the iceberg. He is also concerned that government regulators are not proactive in finding misleading and fraudulent investment schemes. He advocates that there should be "undercover agents" hired to report findings to the regulators, police and to the provincial crown attorneys for speedy prosecution. Unlike crimes of passion, financial frauds are generally well thought out and weighed against potential consequences. At the present time there appear to be few if any consequences. Fraudsters today know that police budgets are stretched and that the risk of conviction is minimal Consequently, the public is not only left in the dark, but also placed a risk.
Some of David's various articles can be found at the following links: