Jaffer promised $5M government loan, says former businessman

[CHIMO]

Former MP Rahim Jaffer told a Mississauga company he could secure a $5-million government loan at a bargain-basement interest rate last summer, says the company’s former president.

Ian Harvey, who was president of now defunct HD Retail Solutions, said Jaffer and dealmaker Nazim Gillani both made the promise at an August 25 meeting at La Castille Steakhouse.

“He said he could arrange a green fund loan for us and Naz sent us an email the next day with a confirmation,” said Harvey.

Gillani’s brief email included the terms – 2.4 per cent interest rate, a five-year term and the loan was only repayable if the business turned a profit. Gillani signed off, telling Harvey and business partner David Dennis: “It’s a great f--king deal!”

http://www.thestar.com/news/canada/article/802625--jaffer-promised-5m-government-loan-says-former-businessman?bn=1

These people, Jaffer, Nazim and others, seem to believe that they have the power to create truth just by saying something. How else can this be explained? They somehow don't think that there is anyone around that will call them on their untruths.

There is another little bit at the end of the article.

[daleo]

1. This is odd, probably the bit at the end that you are referring to

As to Jaffer’s claim that he could provide a $5-million “green fund” loan, Harvey said he did not think his company would fit this type of program but they wanted to grow their business and the offer was attractive. “Rahim Jaffer said he was in front of a $100-million green fund,” Harvey recalls.
...
HD Retail is bankrupt, with more than $1 million owed to creditors, Harvey said. It still has a trading symbol on Pink Sheets, a loosely regulated US stock exchange, and Harvey was shocked to notice recently that there has been trading activity on the account. About 100,000 shares have traded recently with a value ranging from a penny to 50 cents. Harvey and his group have no involvement with the public entity (they ran the private HD company and Gillani helped create the public entity).

“I am starting to wonder who is doing the trading,” said Harvey.

http://www.thestar.com/news/canada/article/802625--jaffer-promised-5-million-government-loan-says-businessman