Calgary real estate fraud leaves dozens of investors fighting to recover millions
'Mr. Hare has defended and continues to dispute the serious allegations made against him in the Action, which has not yet proceeded to the discovery phase,' Hare's lawyer said in an email. 'Our client is confident that a just resolution will be reached in the Action going forward.'
Article content
The managing broker declined to comment on ongoing litigation and emphasized that neither he nor Re/Max Central was named in the civil suit.
Article content
Re/Max Central was long considered one of the top-performing Re/Max offices globally. According to the company's website, the brokerage consistently ranked among the leaders in sales both in Canada and internationally.
Article content
In a statement, Re/Max said Drinkwater has not been affiliated with the brand since April 2024.
Article content
'The actions alleged are not representative of the values and principles upheld by REMAX and its franchisees and their affiliated sales associates. The REMAX network shares and honours a commitment to professionalism and honesty,' Re/Max said in an email. The company did not comment on allegations against Hare.
Article content
Article content
Meanwhile, the Real Estate Council of Alberta (RECA) is facing mounting criticism from victims and industry leaders over its handling of Drinkwater's case, which they say raises questions about the industry watchdog's ability to fulfil its mandate to protect consumers.
Article content
Several victims allege the regulator has tried to distance the fraud from the real estate industry to avoid paying out claims through its Consumer Protection Fund. They accuse the regulator of pushing Drinkwater to characterize the fraudulent investments as unrelated personal loans.
Article content
RECA declined to comment on those claims, citing ongoing proceedings.
Article content
'We're very limited in what we can say at this time,' a RECA spokesperson said in a May 15 email to Postmedia. 'Like other regulatory or judicial processes, we want to ensure our actions don't impact the independent hearing process or jeopardize victims' rights.'
Article content
Making a claim to the Consumer Protection Fund is the only path to recover losses for many victims, who say the process to apply is unclear and costly.
Article content
Several victims who spoke to Postmedia asked not to be identified, citing concerns it could affect their claims with the regulator.
Article content
One victim said she turned over hundreds of pages of evidence pertaining to the scheme to the regulator, who later told her in an email there were still 'gaps' in her file.
Article content
Article content
Shelley Todd initially felt hopeful after reporting to the regulator, believing its process would bring a just resolution for victims — but that hope quickly disappeared, she said.
Article content
'RECA's requirements for accessing the assurance fund are complicated — close to impossible without legal representation,' she said. 'Luckily, my lawyer has shown compassion with regard to legal fees, but it's still costing me a significant amount to meet RECA's requirements.'
Article content
Todd says mounting legal fees are a barrier for victims to access payment from the fund.
Article content
'It feels like the regulator is re-victimizing us,' she said. 'It's so expensive and it causes more hardship.'
Article content
Her lawyer echoed those concerns, noting the legislation meant to provide consumer protection instead forces defrauded victims to pursue costly litigation before they can access the fund.
Article content
'The process to get to consumer protection ends up being impractical for most people and a significant and costly barrier,' said Ben Frenken, a partner at Code Hunter LLP, in a statement.
Article content
Article content
Brad Mitchell, CEO of the Alberta Real Estate Association, criticized the regulator for what he called serious regulatory failures exposed by the Drinkwater case. His association represents and advocates for more than 15,000 Realtors across Alberta.
Article content
'The regulator has absolutely failed in its mandate … to detect, suppress and prevent fraud in the industry,' he said, calling for 'wholesale changes' at the regulator to restore public trust. 'They're not fulfilling their sole purpose.
Article content
'What is the point of even having a regulator if they are not going to act?' he said. 'If the courts are always forced to rule before the regulator does something, then it begs the question, what do we need a regulator for?
Article content
'This was a completely preventable scenario,' he added. 'It really is a black mark on the industry.'
Article content
For victims, the path to justice remains uncertain.
Article content
The regulatory process has been slow, with no decision yet on possible sanctions. Meanwhile, the criminal case against Drinkwater is still in its early stages.
Article content
He was to appear in court on June 11 on the fraud charge, but his hearing was adjourned to August 11. He has yet to enter a plea.
Article content
After being betrayed by the Realtor she trusted and let down by the system meant to protect her, Shelley Todd is now focused on helping others navigate the aftermath of the scheme.
Article content
'I have compassion for Eric, but I'm on the side of justice,' she said. 'We've been traumatized by this. So many victims feel shame, believing this was their fault.'
Article content
For Todd, the fight is no longer just about recovering her losses. She's spent countless hours helping others prepare their claims to the Consumer Protection Fund and continues to push for broader accountability.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Sun
5 days ago
- Toronto Sun
Up-and-coming neighbourhoods
Downtown Markham has a new York University campus, rising condominium developments and improved transit. CITY OF MARKHAM Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. Transit and diversity boost appeal and affordability This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Three-quarters of Canadians have made compromises to live where they do but that hardly means they're dissatisfied. In fact, four in five would recommend their neighbourhood as a great place to live, according to Best Places to Buy in 2025: RE/MAX Next Neighbourhoods Report. 'Liveability is important to Canadians and many buyers know what they're willing to compromise on in order to get more on their must-have list,' says Don Kottick, president of REMAX Canada. 'Every market has something for everyone but not all things. Compromise has always been part of the buying process, which includes managing expectations and setting realistic goals.' According to an Angus Reid survey commissioned by REMAX Canada, 37 per cent of Canadians valued affordability as a top factor in choosing their neighbourhoods, down from 44 per cent in a similar 2024 survey. Affordability is followed closely by proximity to amenities such as restaurants, shopping and grocery stores (36 per cent) and convenient access to public transit (31 per cent). This advertisement has not loaded yet, but your article continues below. The survey also found Canadians want to spend more times in their neighbourhoods: Shopping at local stores (58 per cent) Dining out (52 per cent) Socializing with friends, family and neighbours (43 per cent) The Greater Toronto Area (GTA) is experiencing population growth over three per cent annually and significant infrastructure investments – particularly in transportation – are leading to improved neighbourhood quality across traditionally undervalued urban and suburban areas, according to the Next Neighbourhoods Report. 'Canada's urban population is growing at an astonishing pace. Municipalities need to work with their provincial and federal counterparts to increase transit and housing infrastructure – which is already happening in some pockets of the Greater Toronto and Greater Vancouver Areas,' says Kottick. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. 'New transportation links, often developed alongside housing, are transforming once overlooked and undervalued neighbourhoods into magnets for buyers seeking shorter commute times while achieving better affordability. Expanding access strengthens connectivity in community and creates excellent potential for long-term liveability and value.' Based on the criteria of affordability, quality of life and a buyer's return on investment, two types of emerging neighbourhoods surfaced: up-and-coming communities seeing advanced development, and regions that have traditionally been undervalued due to a lack of transportation access and misconceptions. As governments at all levels invest in infrastructure and community revitalization, most Canadians said they feel those policies bring added benefits to their communities, with more businesses (88 per cent) and restaurants (87 per cent) having the greatest impact. New infrastructure, especially transit development, ranks lower at 41 per cent, but arguably has the biggest impact on the emergence of a 'next neighbourhood,' RE/MAX notes. This advertisement has not loaded yet, but your article continues below. As population increases, governments have begun investing in transit infrastructure – oftentimes a precursor to new businesses flocking to communities and facilitating 'the next great neighbourhood. 'Communities often experience transit development before and alongside new residential housing. In Ontario, we've seen rapid housing developments labeled Transit-Oriented Communities hugging the new Ontario Line actively under construction,' says Kottick. Hidden gems The Best Places to Buy in 2025: REMAX Next Neighbourhoods Report lists the following as 'hidden gems' across the Greater Toronto Area and why: Clairlea-Birchmount in Toronto has grown in popularity for its blend of urban and suburban living, transit access, and diverse neighbourhoods that appeal to young professionals and families. Its proximity to Taylor Creek Park adds ample green space. This advertisement has not loaded yet, but your article continues below. Average house price: $932,014 Wexford-Maryvale in Toronto is a family-friendly neighbourhood offering a cozy, suburban feel with quick access to the Don Valley Parkway and Hwy. 401. Just minutes from downtown Toronto, it features mostly low-rise, one- to two-storey homes and brick bungalows. Average house price: $1.071 million Crown Point in west Hamilton is a diverse, mostly residential neighbourhood with affordable, owner-occupied detached homes featuring finished basements and backyards. It offers easy highway access, schools, amenities and a trendy yet exclusive feel close to work hubs. Average house price: $570,000 Aldershot South on Burlington Bay's west end offers easy highway and GO Transit access, a mix of housing, and plentiful parks, green spaces and waterfront views. It's growing into a vibrant, well-connected community without heavy traffic. This advertisement has not loaded yet, but your article continues below. Average house price: $899,000 Downtown Markham has a new York University campus, rising condominium developments and improved transit. This growing hub offers restaurants, activities and cultural attractions. Average house price: $660,000 to $1.625 million Seaton is a rapidly developing, master-planned community in Pickering and is gaining attention for its strategic location and infrastructure. Average house price: $1.013 million Don Mills-Victoria Village in Toronto has been shaped by the Eglinton Crosstown, among many other east-end communities, improving downtown access. They offer top arts schools; larger, more affordable homes than Don Mills/Leaside; and spacious lots with post-Second World War heritage. This advertisement has not loaded yet, but your article continues below. Average house price: $1.126 million 'Unexpected' neighbourhood gems Unique neighbourhoods have historically been undervalued due to unfair misconceptions or for being 'too far away' from the city centre, according to The Best Places to Buy in 2025: REMAX Next Neighbourhoods Report. These communities are often well established but overlooked compared to neighbouring catchments. Scarborough remains one of the 'most undervalued' areas in the Greater Toronto Area. For decades, many have harboured misconceptions about the community due to a variety of outdated biases. However, it's incredibly safe, has a diversity of housing stock and many positive attributes, including a renowned performing arts school with students coming from across the city to attend, according to the report. Other unexpected neighbourhood gems: East York, particularly pockets around Birchmount, Victoria Park, Warden and Wexford, and Hamilton. Toronto & GTA Columnists Canada World Sunshine Girls
CBC
6 days ago
- CBC
Judge greenlights Quebec class action over key fobs and car thefts
A Quebec Superior Court judge has authorized a class-action lawsuit that alleges that key fob signals are too easy for car thieves to intercept. The class action was filed on behalf of Quebec residents who had a vehicle equipped with a remote car access and starting system stolen on or after May 2, 2021, regardless of the vehicle's manufacturing date. The lawsuit alleges the companies spent years using the key fob system "without worrying about the appropriate level of security against theft." It claims these companies' on-board diagnostics systems also make cars vulnerable to theft, since it would allow someone to force a car to start after breaking into it and opening the hood. In a ruling issued on Wednesday, Judge Clément Samson approved the class action for the following 13 automakers: Toyota, Honda, Hyundai, Nissan, Mazda, FCA, Ford, Audi, BMW, Kia, Mitsubishi, Subaru, Volkswagen and Volvo. The judge ruled against a request to include Porsche, Jaguar Land Rover, Mercedes-Benz and BMW. The class action also excludes cases involving ultra-wideband technology. The number of stolen vehicles in Quebec and across Canada soared after the pandemic, though they have been on the decline in recent years. A report released this week found thefts are down 19 per cent in Canada in the first half of 2025 compared to the same time period in 2024. WATCH | A 2024 report looks at what cars are targetted by auto theft criminals: Fighting auto theft in Canada will take more work, report finds 8 months ago No warning in owner's manual The lead plaintiff in the case is André Lacroix, who purchased a 2018 Toyota Highlander in June of that year. In April 2022, his car was stolen from the front of his daughter's home in Boucherville, on Montreal's South Shore. He had locked his car by using his key fob. There was no security footage showing what exactly happened. "The owner's manual provides absolutely no warning regarding the security of the smart keys associated with this vehicle," the lawsuit states. "The manufacturers — including Toyota — have known about these flaws for several years but despite the risks for consumers, it appears they haven't modified their vehicles' security measures." The court document states Lacroix wishes to represent more than 10,000 victims of car theft in the province. Lacroix wants the car manufacturers to admit responsibility for having created a "design flaw enabling the theft of the group members' vehicles and for not having at least warned consumers of a security defect in their keys." The lawsuit is seeking $1,500 in compensation for each person who had a vehicle stolen on or after May 2, 2021. It's seeking another $1,500 for each vehicle that was either sold or leased between May 2, 2021 and May 2, 2024 — the latter being the date of the class action request. This amount would be given to a non-profit company that advocates for the consumer protection of car owners. The lawsuit also calls on the judge to order the automakers to recall their vehicles and modify them to make them less vulnerable to theft. The automakers have 30 days to appeal the decision. If not, the lawsuit could head to trial. Éric Bouchard, one of the lawyers behind the lawsuit, is asking victims of car theft who are eligible to participate in this case to contact him.
Edmonton Journal
6 days ago
- Edmonton Journal
Strong resale homes market forecast for Edmonton this fall
Article content Edmonton's resale real estate market has been a leader nationally in recent months, and a new report suggests that it will continue to be one of Canada's hottest markets for the rest of the year. Albeit it will not be as hot as it was even a few months ago, with the Royal LePage House Price Survey and Market Forecast predicting slowing growth. Article content 'We are now following a very normal trajectory where peak pricing happens in the spring and then comes off through the summer while picking up in the fall,' says Tom Shearer, broker/owner of Royal LePage Noralta Real Estate. Article content Article content Article content The report shows that Edmonton was a top market for percentage price growth in the second quarter of this year (ending June 30) with the aggregate price of a home up 7.5 per cent year over year, reaching $484,500. Yet quarter over quarter, growth slowed to 1.2 per cent. Article content Article content The national aggregate price is expected to gain about 3.5 per cent to reach about $848,000. The pace of price growth is an acceleration from the second quarter when prices gained 0.3 per cent, year over year, the report shows. Article content Toronto and Vancouver weighed on the national picture with both cities seeing aggregate price declines. The Greater Toronto Area saw its aggregate price decline three per cent to about $1.15 million year over year. In Greater Vancouver, the aggregate price fell 2.6 per cent to about $1.22 million. Article content Article content Canada's largest cities are expected to see growth, however, by the end of the year. Toronto's aggregate price is expected to grow two per cent to reach $1.17 million over prices at the end of 2024. Vancouver's aggregate price is forecast to climb 1.5 per cent to reach about $1.25 million. Article content Even with the recent price declines, both markets are still unaffordable for most families — at least if they are seeking a single-family home, says Kingsley Ma, area vice-president for Re/Max Canada. Article content 'Even if both parents are working, your chances of buying a detached home are slim.' Article content The median price for a single-family detached home in Greater Vancouver was about $1.74 million at the end of June, declining about two per cent year over year. Article content Ma adds more families seeking to purchase a first home are looking to the condominium and townhouse markets. Even townhomes, however, can carry $1 million price tags, he adds.
