Tuesday, January 3, 2012

The mystery of UM Financial and the greed and taqiyyah of shariah finance crooks

Canada should never have permitted shariah finance on our shores.
The University of Toronto is on it's way to becoming fully islamized if they continue with their new course on Shariah Financing.
The Federal govt. has to look deeply into this mess happening in Ontario and introduce measures to prevent any alien financial rubbish being offered through Canadian financial institutions.

See how what   was envisioned by an ordinary and insignificant blogger like myself, has come to pass.

I wish SUNTV would pick up on this sharia finance menace plaguing new muslim immigrants to Canada so they don't go blindly into these pitfalls like the 100s of families now in deep shit because they preferred to trust an entity run  by one of their own taqiyyah masters.

John Goddard, writing at the TorontoStar, is following the messy saga going on in our courts:

.... On Aug. 30, he drove to Scotiabank’s main branch at King and Bay Sts., according to his court testimony.

He bought $889,695.90 (U.S.) in gold bullion, in the form of 15-kilogram bars. He then drove away and stored them at his office at 789 Don Mills Rd., near Eglinton Ave.

Three further purchases in early September led to his possession of another $978,263.64 in gold bars and at least $322,343 in silver, including 5,699 one-ounce coins.

“So by Sept. 8, you’re sitting in your office with almost $2.2 million of precious metals, correct?” lawyer Neil Rabinovitch asked, on behalf of the receiver, in a Nov. 25 examination.
“Yes,” Kalair replied.
“And again, you don’t get any extra insurance or take any additional precautions other than locking your door?”
“No,” said Kalair. “Our office has been very secure. We never had any issues and it has security at the front.”

The nighttime Rexdale drop-off came next.

Muslim cleric Panchbaya had once been chairman of UM Financial and was now claiming $2.7 million on behalf of himself and four other local clerics. The group said they had given the company free sharia guidance for several years and eventually expected to be paid.

On Sept. 19, Panchbaya incorporated the five as Multicultural Consultancy Canada Inc., or MCC, and named himself chairman. He then applied to have MCC intervene in the court case.

“You were concerned that the receivership could render the mortgages not sharia compliant, correct?” lawyer Rabinovitch asked him in court and Panchbaya agreed.....

h/t: JG

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