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.
update
A few weeks ago Michael Ruge asked me to delete my posts on the Lasqueti web site about the Safe Island Land Alliance, at https://lasqueti.ca/node/6761. I read it again, and the only thing that I know has changed since then is that Michael's wife, Elly, now owns the property.
I understand that there are issues about access to the property, from Oben Road and from Weldon Road & Elderberry Lane. There are also worries about safety with increased vehicle traffic on both of these long, winding narrow roads.
I do not plan to not attend the Safe Island Open House on Saturday, as it seems to be a sales promotion event, and I am not thinking of buying a share, however it is structured.
Clarification
The Safe Island Open House that is being held on June 19th from 2:00 pm to 4:00 pm at our cabin on Elderberry, is an information session, NOT a sales event. This is an opportunity to ask questions and address any concerns about the Safe Island Land Alliance project. COVID protocols will be in place. Refreshments and light snacks provided. We look forward to welcoming all! - Elly Ruge
Charlatan and culture
Charlatan and culture vulture. If it’s not clear NO ONE wants you hear. You may have gotten away with your scams on the other side but Lasqueti has a way of dealing with undesirable folks like you.
Safe Island Alliance
Some background backing up your feelings I suspopect.
https://www.investmentexecutive.com/newspaper_/news-newspaper/news-28999/
Google Michael Ruge, hedge fund promoter to learn about him
The Safe Island Land Alliance run by Michael and Elly Ruge is not welcome on Lasqueti. Google "Michael Ruge hedge fund promoter" to see the fraud he was convicted of. Basically, he took $1.2M from elderly Rotarians and pretended to be investing it, except he was using it himself for lavish vacations (see his pics online). So blatant was this fraud, he was actually convicted by the BCSC, something quite rare, and indicates how cut and dry the case was. Now, he's built out a big excuse on why he wasn't actually defrauding anyone... Ask the Rotarians who lost their retirement savings to him on how they feel.
The idea of selling shares to the land is rife with potential for fraud. By his comments, he doesn't even have the model listed on paper, and has just changed the land title into his wife's so prospective buyers don't see his dirty name on the website. He'll sell a few shares, sell the company to one of his investors who will then dissolve the first company along with the "ownership" rights of the people who bought in, then flip the property. Or charge maintenance fees for the roads or management. The arrangement, and himself, are not to be trusted!!
Buyer beware
I have had personal contact with Elly and Michael Huge, I won't say how as I wish to remain anonymous but these people bilked a lot of money out of innocent elderly people. They used the rotarian name across the world to promote themselves and seem like good people. They are not good people. Elly's old business in Cowichan ended up being sold and then suddenly they are trying to sell cars illegally, even though Michael has some sort of charges or allegations against him for this previously. They have their grubby fingers in a lot of sh!t pies and if you had ANY sense whatsoever, you would heed the warnings and stay as far away from these people, their money, their "land" or their fake businesses. BEWARE OF MICHAEL AND ELLY RUGE!!
Safe Island Alliance
I am looking for property on Lasqueti. I visited there in October and met some lovely people. However this deal is being promoted much in the negative manner that most of the above contributors are stating. This unique community might be risk being "noticed". Sad.
https://www.youtube.com/watch?v=V72QN1yuVaY
Family of Fraudsters
Just Google Mike Ruge’s brother Alexander Ruge and ( enter the word fraud).
He comes from a long line of scammers and fraudsters . It’s in the Ruge family DNA.
Is this still happening?
Is this still happening?
Post new comment