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 legit?

PACE Savings & Credit Union and it's subsidiary PACE Securities is not running a legit business. They are not aggressive towards customer satisfaction and complaint grievance redressal, Hence 1 consumer[s] submitted negative ratings, and only a few left positive feedback.

Where is PACE Savings & Credit Union and it's subsidiary PACE Securities located?

PACE Savings & Credit Union and it's subsidiary PACE Securities is headquarted at Toronto 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/.

How much monetary loss is incurred by PACE Savings & Credit Union and it's subsidiary PACE Securities’s customers?

According to PACE Savings & Credit Union and it's subsidiary PACE Securities’s customers, a monetary loss of US $732 has been reported. The severity of entire incident reports is extremely high.

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1 Review on PACE Savings, Credit Union & PACE Securities

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