PACE Savings, Credit Union & P...

Investment SCAM

PACE Savings & Credit Union opened a subsidiary called PACE Securities where it exploited the trust that customers will normally have in their credit unions by selling high risk investments without disclosing their true risk profile or any of the associated management fees.

Over 40 Million Dollars was invested.

PACE Credit Union sold these shares to existing members by making them appear to be like regular credit union shares which these members already held without disclosing the risks and without providing any documentation.

When these high risk investments lost most of their value during the COVID-19 crash, the new CEO, Barbara Dirks, shut down the PACE Securities division leaving investors with nothing.

Now the investors have launched a class action to represent them in the liquidation proceeding to get what they can from the liquidated PACE Securities Division before more lawsuits follow against PACE Credit Union itself.

Here are some news articles and court documents.

https://www.theglobeandmail.com/business/article-pace-credit-union-launches-investigation-of-improper-investment-sales/

https://documentcentre.eycan.com/EYCMLibrary/Pace%20Securities%20Corp/English/Court%20Orders/003.%20Order,%20dated%20August%206,%202020/OrderreAppointmentofRepresentativeCounseldated6Aug20.pdf%C2%A0%C2%A0

 

Is PACE Savings & Credit Union and it's subsidiary PACE Securities a scam?
PACE Savings & Credit Union and it's subsidiary PACE Securities is a scam and a bad service provider as per the report filed on dirtyscam.com. They are not aggressive towards their customer satisfaction and complaint grievance.
Is PACE Savings & Credit Union and it's subsidiary PACE Securities legit?
First PACE Savings & Credit Union and it's subsidiary PACE Securities is not a legit business owner or provider. You must take necessary precautions/measures before buying or using their services.
How many reviews are submitted by PACE Savings & Credit Union and it's subsidiary PACE Securities’s consumers?
There is/are 1 review(s) posted about PACE Savings & Credit Union and it's subsidiary PACE Securities and it indicates that the severity of the scam is Extremely High.
Where is PACE Savings & Credit Union and it's subsidiary PACE Securities located?
PACE Savings & Credit Union and it's subsidiary PACE Securities is located at Toronto, ON, Canada. You can contact PACE Savings & Credit Union and it's subsidiary PACE Securities by dialing N/A or visit their website www.highinterestsavings.ca/forum/general-financial-discussion/pace-securities/page-21/ before filing a lawsuit. We are no way affiliated with better business bureau or yelp reviews platform.
How much monetary loss is incurred by PACE Savings & Credit Union and it's subsidiary PACE Securities’s customers?
According to the report(s), US $732 was the total loss incurred by PACE Savings & Credit Union and it's subsidiary PACE Securities’s customers.

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1 review on PACE Savings, Credit Union & PACE Securities

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Reviews:1
Reported Loss :732 $
Severity of Scam :Extremely High
Reported by : Anonymous
Views :