65actual
1 year ago
Posted back in 2020, Wow! UAMA rotten to core!
Benoit Laliberte, record of mediocrity and fraud.
Facts are clear that Mr. Laliberte should have gone to JAIL for his 44 convictions for stock fraud, market manipulation and deceiving investors. He'd have been sent to jail in any other Province in Canada at the time and certainly in the US. He was lucky to have dodged a jail sentence.
Not only has he been an undischarged bankrupt for the past ten (10) years, but also morally bankrupt. Dig into the bankruptcy proceedings and the many documented breaches of contract. Serious enough that one judge went on the record commenting that it appeared that such breaches seemed a business practice of Mr. Laliberte.
The record shows that Mr. Laliberte is a poor manager and leader. He's screwed up and caused the failure of numerous companies the largest of which was Teliphone-Navigata-Westel. That $47M bankruptcy totally GUTTED the asset base and employee talent base. Nothing is left except for a pile of legal bills and potential action against Mr. Laliberte for his written threats to an Officer of the Court and his failure to remit employee tax withholdings to the CRA in Canada. Will this bring charges against Mr. Laliberte? Time will tell.
In retrospect not sure why Investel, UAMA, Laliberte bought RuralCom. RuralCom became TNW Wireless Inc and that has totally failed. Time has clearly demonstrated that Mr. Laliberte doesn't understand wireless. RuralCom was "market ready" with institutional investor support garnered through the RuralCom CEO. It could have been quickly built into a significant regional carrier and could be generating $40-80M today in annual revenues with really decent EBITDAs, except Benoit's EGO got in the way and it was all for naught. The CEO was set free along with his financial supporters and the record will show that when Laliberte approached those institutional investors he was shown the door! Funny how the investor community eschews convicted criminals.
Don't see the greatness that some other posters seem to want to see in Mr. Laliberte. He's a fraudster with an unremarkable track record. Predictably the past is the best clue to the future of UAMA and it is bleak!
65actual
1 year ago
CRA, RCMP, PQ should interview UAMA Ottawa principal.
Long-time principal of many of the frauds resides in Ottawa.
Accessory before the fact, accessory after the fact or both?
Teliphone-Navigata-Westel, Investel, United American Corp. et al
Long-time resident of Ottawa and only minutes away from RCMP HQ.
Ask me nicely and I'll provide the address.
65actual
2 years ago
Scary thought, UAMA may launch again!
Seems team hasn't changed and led by convicted criminal Benoit Laliberte (per the Canadian Press) and that's not good news! Expect them to "uncork" the next fraud with grandiose claims of future success. Caveat Emptor should be the watchword here as this team has never demonstrated any success. Teliphone, Navigata, West was a bust finally buried by the bankruptcy proceedings. Wireless was market ready, had a CEO with term sheets, and they fired him, couldn't raise needed capital and proceeded to manage the former RuralCom into oblivion. Crypto currency mining apparently created some revenue though their twisted business strategy was a loser from the start. While everyone else in that space was mining, mining, mining, UAMA wasted time trying to convince the world that their sophomoric solution was a viable path forward. The numerous failures of this management team is legendary and their ability to make good on their grandiose claims as management experts is laughable.