Michael Ruge is selling "shares" in Safe Island Land Alliance based on land that he does not own

There is a good deal of misleading information contained in the promotional material for Safe Island Land Alliance, and information that is not included in the materials I have seen.

The quarter section is not owned by the promoter(s). Only a relatively small deposit has been put on it, and the balance is due in mid March. The promoter will be able to purchase the land if he makes a few sales of "shares" before the middle of March.

Not only can each 10 acre "share" not be sub-divided, the entire parcel can not be subdivided, as there is no public road, only a legal easement, to the property. People who buy in to the project will be buying a share of a corporation, and a dream or a nightmare, not a piece of property.

The principal, Michael Ruge, has  a record of less-than-trustworthy actions. If you, or anyone you know, are considering buying into the Safe Island Land Alliance, be sure to talk to a lawyer, and spend some time checking Mr. Ruge's reputation on the internet.

I have asked the BC Securities Commission whether their ban on him selling, promoting or trading shares applies to shares in property, but I have not heard from them yet.

If you need more information, you can email me    pjohnston [at] lasqueti [dot] ca

Comments

Addressing concerns regarding Safe Island Land Alliance

Peter - thank you for opening up an opportunity for Elly and me to address your concerns, and also come of your misconceptions, regarding Safe Island Land Alliance. Posted on this website, under the Message Board section, is an open letter to the residents of Lasqueti Island regarding SILA. We hope that you will take the time to read this letter and, perhaps, reconsider some of your perspectives on the matter.

more information

I have spoken with Michael, and read his letter to the community. I am not very reassured. He says there are two accesses to the property, from Oben and Elderberry Roads. He also says that there is as yet not decision about how the "alliance" will be structured. It isn't a strata subdivision, or a straight subdivision into fee-simple lots. Maybe a coop. Maybe a corporation. Maybe not. Both the BC Securities Commission and the Real Estate Council of BC are investigating this "deal". Michael says that he has talked with many Lasqueti people about his plans and hopes, and has offered to everyone that they can join at reduced price. I've heard from one person who met him and Elly, congratulated them on buying Kristen & Glen's place, told them that she was also looking to buy a place on Lasqueti, and they didn't mention their proposed development. Michael told me that he had changed the miss-information about permitted campsites, but he has not. Be smart and be careful. Michael is planning to have an open house get-together shortly after they purchase the property in mid March, time and place to be determined. I'm planning to attend, with no intention of purchasing.

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