Latest news with #Martel
Global News
4 days ago
- Business
- Global News
City of Vernon vows to meet with non-profits after backlash over rent at civic facilities
More non-profit groups are denouncing what they call significant rental fee increases imposed by the City of Vernon at civic properties used for community events. 'It's hard,' said Ingrid Baron, chair of the Creative Chaos event. 'It's hard if we all go, 'Who is going to rent these facilities?'' Creative Chaos, Canada's largest craft fair, brings in thousands of people every year. The event is celebrating its 50th anniversary this year and for the first time in its history, aside from the COVID-19 pandemic, will be operating at a loss. 'We tightened up on a few things,' Baron said. 'We were going to have a bit of a bigger celebration thing, so we've tightened up there. We tightened up on our performing arts, dipped into some savings.' Story continues below advertisement The cost-cutting measures, Baron said, were necessary as the non-profit society has to pay a lot more this year to rent the venue space at the Vernon Recreation Centre. 'We were shocked because it was a 32-per cent increase from the year before,' Baron said. The Vernon Farmers' Market is in a similar situation. It rents the parking lot at Kal Tire Place every Monday and Thursday and it too is now faced with much higher rental fees. 'It's significant, ' said Sarah Martel, president of the Vernon Farmers' Market Society. 'A big increase.' According to Martel, the rent hike has tripled in just two years going from around $3,000 to $14,000 a year. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'It's forced us to increase the price for vendors,' Martel said. 'As a result, we have seen a decrease in the amount of vendors that come. If they're making a loss every day, you know, where do they go from there?' Martel said the market has decreased by about half the size it was five years ago, with only about 80 vendors left. While part of that is blamed on the pandemic, more recently it's the rising fees that are contributing to the shrinking market. Story continues below advertisement 'It's really sad because all the money that's spent at the farmers' market, and even the money that's created and generated by these small businesses, it all stays in Vernon and it all goes to the Vernon local economy,' Martel said. 2:16 Okanagan Military Tattoo cancelled due to soaring rental fees The Greater Vernon Chamber of Commerce has been advocating for fairer fees for non-profit user groups since 2023 arguing it is in the community's best interest. 'Unfortunately, we haven't seen the results that we had hoped for,' said Dan Proulx, the chamber's general manager. 'So what we're seeing now is unfortunately the effects of those increases that we warned the city was going to happen.' Proulx referred to the long-running Okanagan Military Tattoo that earlier this year pulled the plug on the event and cited the rental fee hike as the final straw for the tough decision. Story continues below advertisement In an email to Global News, the city's chief administrative officer, Peter Weeber, stated he's aware of the concerns over the rental fees for city facilities and plans on addressing them. 'I will be meeting with these organizations in person, including the Greater Vernon Chamber of Commerce, in the coming weeks to better understand their specific concerns,' Weeber said. 'If there are challenges, I want to harness the knowledge and experience within the business community to help address them.' At the farmers' market on Thursday, some shoppers questioned why the city is putting up barriers at a time when buying local is top of mind for so many. 'The timing is absolutely inappropriate, atrocious and ridiculous,' said Vernon resident Rhonda Kohen. 'I don't understand it and where their heads are at because it hurts the city.' Last week, the city stated it had to strike balance between fees paid by the user and subsidization through taxation needs.
Vancouver Sun
06-05-2025
- Business
- Vancouver Sun
Investors duped in $300 million Ponzi scheme sue Royal Bank, B.C. financial regulator
Investors who lost money in a $300 million Ponzi scheme masterminded by B.C. resident Greg Martel are suing the Royal Bank of Canada and a B.C. financial regulator. The three investors — Andy Todd Wilson of Vancouver, Dustin Frank Renz from Colwood on Vancouver Island, and David Cumby of Edmonton — hope to have their case certified as a class-lawsuit for the more than 1,200 investors who also lost money. The trio filed the case in B.C. Supreme Court on April 25 and are seeking damages for negligence, wilful blindness and anti-money-laundering failures. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. The Royal Bank and the B.C. Financial Services Authority have not yet filed responses and the allegations have not been proven in court. The plaintiffs allege the Royal Bank and the provincial regulator failed to detect or prevent misconduct despite having clear regulatory duties. 'These failures — by the bank responsible for processing the majority of investor funds, and the regulator responsible for supervising the mortgage broker — enabled the scheme to persist unchecked for years resulting in massive and avoidable investor losses,' says the notice of claim filed by the trio's Vancouver lawyer, Meldon Ellis. The financial regulator had received formal complaints in 2017 and 2021 about Martel and his mortgage brokerage firm, which, if 'properly investigated,' could have exposed the fraudulent scheme, says the lawsuit. The claim says the bank failed to detect or act on several red flags, including high-volume deposits inconsistent with a mortgage broker business. In a written statement, the financial service authority said Monday its investigations in 2017 and 2021 did not substantiate a breach under the legislation it enforces given the activities in question 'presented' as outside the scope of regulated mortgage brokering. The Royal Bank said Monday it was would not comment while the matter was before the courts. Martel, who was a Victoria-based mortgage broker who later worked out of California, pitched investments for short-term loans to his clients and others. Those investors, according to court documents and reports compiled by receiver PricewaterhouseCoopers , had been collecting high returns on the basis that their money was pooled to provide bridging loans for real estate development, often for less than 90 days, to allow projects to secure permanent financing or pay off a current loan. But PwC found the investments had been a massive Ponzi scheme and there were no bridge loans. In a Ponzi scheme, named after 1920s-era fraudster Charles Ponzi, earlier investors are paid off with later investors' money and not from the profits of any real business. An analysis of 65,000 transactions by the receiver found that $301 million was invested and $210 million was repaid using incoming funds. The analysis also found that $91 million was lost through options trading, a failed car-share business in California and Martel's personal expenditures. When the scheme collapsed, there were more than $316 million outstanding claims, according to the civil suit. Of the 1,800 people who invested, 1,229 had net losses, meaning they paid more into the loan scheme than they were paid out in their principle and interest payments. Wilson, a building maintenance contractor, Renz, a military police officer, and Cumby, an entrepreneur, had net losses. The court filing does not say how much they lost. In earlier lawsuits filed in Canada and the U.S. against Martel, investors claiming losses included those in Vancouver, Burnaby, Coquitlam, North Vancouver, Victoria, Kelowna and Prince George, and also in Alberta, California and as far away as New York. Records obtained by Postmedia News through a freedom of information request found that B.C. financial regulators received complaints about Martel, including that a high-return investment opportunity might be a scam, years before the Ponzi scheme collapsed in 2023. Martel was declared bankrupt in B.C. Supreme Court in 2023 and there are warrants for his arrest in Canada and the U.S. for contempt of court because he failed to properly provide answers and information on what happened to the money. After telling investors in a series of online videos they would get their money back, Martel fled to Thailand and disappeared, according to U.S. court filings. PwC's report filed last year made it clear that investors were not getting their money back from Martel. The report noted that Martel's spending between 2018 and 2023 included $3.1 million on travel, $3.1 million on vehicles, $1.1 million on rent, $261,000 on meals, $200,000 on jewelry, and $150,000 on recreation and vacations. Martel's whereabouts are unknown but PwC had said last year that it learned he had been exiled from Thailand after Aug. 30, and later travelled to Dubai. There are investigations underway by the B.C. Securities Commission and the Victoria police. With files from The Victoria Times Colonist ghoekstra@
Scottish Sun
02-05-2025
- Entertainment
- Scottish Sun
Savvy BBC TV star stuns fans after wearing £7.99 Amazon earrings and DIY Hobbycraft buy to fancy ball
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A BBC star has proved she likes a bargain fashion buy just as much as cheap homes after showing off her outfit for a ball. Homes under the Hammer's Martel Maxwell, 48, is no stranger to cost-cutting renovations on the daytime Beeb show. 5 BBC star Martel Maxwell had 30 minutes to get ball-ready Credit: instagram/martelmaxwell 5 Martel had to improvise to achieve the black and white themed dress code Credit: instagram/martelmaxwell And at home, the mum of three - from Dundee - appears to be a fan of savvy buys for her wardrobe too. In a recent Instagram video, the telly favourite revealed the two cheap items she used to get her ball-ready this week. Martel popped on a one-shouldered black sequins mini dress and black peep toe heels before showing off her bargain accessories. She said: "When you realise you've got half an hour to get ready for a ball that's got a theme, black and white. "I wasn't fully prepared but I had these £7.99 Amazon earrings in the cupboard. "This bow from Hobbycraft, I just tied it on. You know, it's black and white. "And I'm ready to roll with my £7.99 earrings and a wee bow. Party time." Martel later joked that a "wee spray tan and blow dry" also "helped immeasurably". The TV star's clip quickly racked up 15,000 views as fans were left stunned by her savvy look. One gushed: "Gorgeous as ever, in whatever." Homes Under The Hammer's Martel Maxwell's top tips to add value to your home - and they're surprisingly simple A second joked: "£7.99?? Wow, even I can afford to take you shopping!! "Just shows, though, you don't have to spend lots to look great." "Stunningly beautiful, as always", chimed in a third. A fifth wrote: "Typically unique style." Meanwhile, a sixth added: "You look so lovely as always," 5 Martel bagged these earrings for £7.99 on Amazon Credit: instagram/martelmaxwell 5 She also picked up white ribbon from Hobbycraft which she tied to her dress Credit: instagram/martelmaxwell
The Sun
02-05-2025
- Entertainment
- The Sun
Savvy BBC TV star stuns fans after wearing £7.99 Amazon earrings and DIY Hobbycraft buy to fancy ball
A BBC star has proved she likes a bargain fashion buy just as much as cheap homes after showing off her outfit for a ball. Homes under the Hammer's Martel Maxwell, 48, is no stranger to cost-cutting renovations on the daytime Beeb show. 5 And at home, the mum of three - from Dundee - appears to be a fan of savvy buys for her wardrobe too. In a recent Instagram video, the telly favourite revealed the two cheap items she used to get her ball-ready this week. Martel popped on a one-shouldered black sequins mini dress and black peep toe heels before showing off her bargain accessories. She said: "When you realise you've got half an hour to get ready for a ball that's got a theme, black and white. "I wasn't fully prepared but I had these £7.99 Amazon earrings in the cupboard. "This bow from Hobbycraft, I just tied it on. You know, it's black and white. "And I'm ready to roll with my £7.99 earrings and a wee bow. Party time." Martel later joked that a "wee spray tan and blow dry" also "helped immeasurably". The TV star's clip quickly racked up 15,000 views as fans were left stunned by her savvy look. One gushed: "Gorgeous as ever, in whatever." Homes Under The Hammer's Martel Maxwell's top tips to add value to your home - and they're surprisingly simple A second joked: "£7.99?? Wow, even I can afford to take you shopping!! "Just shows, though, you don't have to spend lots to look great." "Stunningly beautiful, as always", chimed in a third. A fifth wrote: "Typically unique style." Meanwhile, a sixth added: "You look so lovely as always," 5
The Irish Sun
02-05-2025
- Entertainment
- The Irish Sun
Savvy BBC TV star stuns fans after wearing £7.99 Amazon earrings and DIY Hobbycraft buy to fancy ball
A BBC star has proved she likes a bargain fashion buy just as much as cheap homes after showing off her outfit for a ball. Homes under the Hammer's Martel Maxwell, 48, is no stranger to cost-cutting renovations on the daytime Beeb show. 5 BBC star Martel Maxwell had 30 minutes to get ball-ready Credit: instagram/martelmaxwell 5 Martel had to improvise to achieve the black and white themed dress code Credit: instagram/martelmaxwell And at home, the mum of three - from Dundee - appears to be a fan of savvy buys for her wardrobe too. In a recent Instagram video, the telly favourite revealed the two cheap items she used to get her ball-ready this week. Martel popped on a one-shouldered black sequins mini dress and black peep toe heels before showing off her bargain accessories. She said: "When you realise you've got half an hour to get ready for a ball that's got a theme, black and white. Read more in Fabulous "I wasn't fully prepared but I had these £7.99 Amazon earrings in the cupboard. "This bow from Hobbycraft, I just tied it on. You know, it's black and white. "And I'm ready to roll with my £7.99 earrings and a wee bow. Party time." Martel later joked that a "wee spray tan and blow dry" also "helped immeasurably". Most read in Celebrity The TV star's clip quickly racked up 15,000 views as fans were left stunned by her savvy look. One gushed: "Gorgeous as ever, in whatever." Homes Under The Hammer's Martel Maxwell's top tips to add value to your home - and they're surprisingly simple A second joked: "£7.99?? Wow, even I can afford to take you shopping!! "Just shows, though, you don't have to spend lots to look great." "Stunningly beautiful, as always", chimed in a third. A fifth wrote: "Typically unique style." Meanwhile, a sixth added: "You look so lovely as always," 5 Martel bagged these earrings for £7.99 on Amazon Credit: instagram/martelmaxwell 5 She also picked up white ribbon from Hobbycraft which she tied to her dress Credit: instagram/martelmaxwell 5 Fans were stunned by her overall look Credit: instagram/martelmaxwell
