I was called by the RCMP today and provided with an update that they have been investigating individuals who manage SLI for the past 17 months and at this time they don’t have enough evidence of intent to proceed with criminal charges. I was told intent of fraud is a very hard charge to prove. I was told they could reopen the case and proceed if they had a witness come forward who could help prove intent. The RCMP are packaging all of their documents and providing them to the securities commission. Apparently the securities commission has a much lower threshold to proceed with punitive action than the RCMP. I was also told that the securities commission investigation was put on hold while the RCMP investigation was active (this is the standard protocol). I thanked the Constable for the call as I thought concerns from SLI shareholders were falling on deaf ears. The Constable told me they had a lot of resources working very hard on this case and have accumulated a large file for the securities commission’s reference.
