PRESS RELEASE
March 24, 2017, TORONTO ONTARIO:
Mr. Goudas thanks all the people that have stood by him and assisted him through the recent events in his life.
Mr. Goudas spent his entire life to provide the best quality foods for Canadian families, was foremost in introducing a line of ethnic products into Canadian grocery chains and independent stores reflecting the multicultural nature of Canada.
Additionally, he has been a very charity-oriented individual providing food assistance to senior citizens homes, community housing sites (for various ethnic nationalities), Philanthropic Associations, charitable organizations, cultural organizations, scholarships events, Philoptochos Society's organizations, orphanage housing, floods, earthquakes, typhoons, churches of all religions, homeless, food banks, destitute people and nations across the globe. etc.
Peter Spyros Goudas believed he was making his products available to a wider public in Canada, the USA, the Caribbean, South America, Africa, and China by taking the company to the next level by increasing sales to one billion dollars corporation when he was persuaded into considering selling his business to a public enterprise operated by A.C. Simmonds Group.
Little did he know that the potential purchasers were unscrupulous con-artists.
In 2013, he was planning to enter the stock market with one of his companies (Goudas Food Products and Investments Ltd. )
After several discussions, with bigger companies finely was introduce to BLVD Holdings Inc. a public company recently incorporated in Nevada and operated by John Simmonds on behalf of A.C. Simmonds & Sons Inc.
Peter was told that A.C. Simmonds & Sons Inc. was a well-established company operating in Canada for over 100 years.
Unbeknownst to Mr. Goudas, he had just become a victim of a scam.
BLVD, John Graham Simmonds, and others from the group with forging documents to the stock exchange and to the Royal Bank of Canada bank without the knowledge of Mr. Goudas.
The stock exchange has been proved letter that they had rejected the application of BLVD, John Graham Simmonds, and others from the group from their past experience of fraud.
However, the Royal Bank of Canada ( RBC ) was overexcited with the idea of injection of promising millions by Simmonds and believed the group.
The RBC was overconfident with the billions of dollars Simmonds promises accepted the artificial invoicing made by them and they injected millions of dollars into the line of credit facility of Simmonds.
It took John Graham Simmonds and his team just four and a half months to drive (Goudas Food Products and Investments Limited) into the ground, forcing the company into bankruptcy.
In the process, John Graham Simmonds and his gang have ruined the good name of Mr. Goudas and related Goudas trademarks and created havoc in the food market.
Thankfully, most of the individuals involved in this scam have been arrested by the police for various offenses including fraud, forging documents, conspiracy to commit fraud, false prospectus, and they soon will face a criminal trial.
At the age of 75, Peter has lost one of his businesses that he has worked his entire life for and he is now fighting to recover his reputation with the suppliers around the world.
He has launched a civil and criminal action against numerous parties who have caused this disaster including the Royal Bank of Canada for 200.000.00 Million, the receiver-manager (Duff & Phelps Canada Restructuring Limited aka KSV Kofman Inc.), John Graham Simmonds, and numerous other parties.
Peter values your moral support and is prepared to maintain this fight in the public eye so that others do not suffer a similar fate.
Any comments or inquiries can be sent to CNN@CNNADS.COM or you can follow the updates on www.goudasfoods.com
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PRESS RELEASE
April 3, 2017, TORONTO ONTARIO:
Update to the press release of Peter Goudas on March 23, 2017.
The Royal Bank of Canada and KSV Advisory Inc. (formerly Duff & Phelps Canada Restructuring Limited) have set a hearing for tomorrow on the Commercial List, 330 University Avenue, Eight Floor on April 4, 2017, for the purpose of setting a motion to bring Peter Goudas to court in an attempt to strike out Mr. Goudas claims against them without a trial.
The court date of April 4 was selected by the Royal Bank and KSV and is the same date and time as the hearing date in the criminal court in Newmarket where the gang of 9 individuals who are charged with criminal offenses committed against Goudas Food Products and Investments Ltd which caused that bankruptcy and millions of dollars in loss and damages.
The Royal Bank and KSV are large international organizations that know that Peter Goudas is representing himself.
Peter Goudas believes the timing of this Commercial List hearing by the Royal Bank and KSV was intended by them to coincide with the hearing in Newmarket. This timing has caused Peter Goudas to be compelled to choose to miss one of these events.
Is this a coincidence or planogram?
The Royal Bank is using the law firm "Osler, Hoskins & Harcourt LLP who has over 470 lawyers and KSV is utilizing the services of Aird & Berlis LLP with over 140 lawyers.
Any comments or inquiries can be sent to CNN@CNNADS.COM you can follow the updates on www.goudasfoods.com
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AN EARLY CHRISTMAS GIFT FOR SPYROS PETER GOUDAS
POLICE LAY CHARGES IN $30 MILLION FRAUD INVESTIGATION Dec 2016
CHARGES LAID IN $30 MILLION FRAUD INVESTIGATION
Posted on Tuesday, December 20, 2016
Investigators with the York Regional Police Major Fraud Unit have arrested nine people and laid 42 charges in connection to a criminal organization responsible for defrauding, businesses, banks, and private investors of more than $30 million dollars.
In November 2014, York Regional Police commenced an investigation into the accused John SIMMONDS and his company AC Simmonds Group.
Police and the Ontario Securities Commission received several complaints from victims alleging they had been defrauded by Simmonds and his co-accused.
In early 2014, the company BLVD Holdings, one of the 80 shell companies registered by Simmonds Group began the process of acquiring a food shipping company in the York Region.
AC Simmonds was to purchase the company from the original owner who had started the company and operated it for the past 45 years.
Once Simmonds took control of the business, he replaced the current system for maintaining the financial records to misrepresent the financial status of the company.
Simmonds and his co-accused, systematically submitted fraudulent documentation from one of his many shell companies and business interests to increase the value of the company in order to secure additional money from lenders, creditors, and investors.
Between April and August 2014, in the 5 months that Simmonds had taken control of the food company, he funneled large sums of money out of the existing business to himself, the co-accused, and his shell companies to the point of bankrupting the food company.
The total fraud value at this time is believed to be over $30 million.
Anyone with information or anyone who has had business agreements with BLVD Holdings or AC Simmonds Group is asked to contact Detective Ken Bardai with the York Regional Police Major Fraud Unit at 1-866-876-5423, ext. 6671, Crime Stoppers at 1-800-222-TIPS, leave an anonymous tip online at www.1800222tips.com or text your tip to CRIMES (274637) starting with the word YORK.
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Charged:
- John SIMMONDS, 66, of King
- Carrie WEILER, 57, of Nobleton
- Ian BRADLEY, 71, of Toronto
- Donald FENTON, 67, of Toronto
- Jason WILLIAMS, 44, of Severn
- Michael GRIECO, 63 of Vaughan
- Deborah SIMMONDS, 56, of Aurora
- Tyrone GANPAUL, 67, of Mississauga
- John MPARDAKIS, 45, of Toronto
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Charges Include:
- Fraud Over $5,000
- Conspiracy to Commit an Indictable Offence
- Use a Forged Document
- Fraud-Other Means
- Laundering Proceeds of Crime
- Possession of Property Obtained by Crime
- Fraud Affecting Public Market
- False Prospectus
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CBC NEWS
Posted: Dec 21, 2016
'I lost my life,' complainant in $30M fraud investigation
9 people accused of funneling money to support a 'lavish lifestyle,' say police
York Regional Police say even more potential victims are coming forward in a $30 million fraud investigation.
Nine people, including prominent Ontario businessman and ClubLink co-founder John Simmonds, are facing 42 fraud-related charges.
Peter Goudas, 78, is one of their alleged victims. He told CBC Toronto he was forced to watch as his company was driven into the ground in just five months in what police are describing as a "planned bankruptcy."
From food empire to bankruptcy
In 1967, Goudas came to Canada from Greece and eventually grew his company, Goudas Food Products and Investments Ltd, into a leading Canadian supplier of international food products with more than 600 brands.
Business owner Peter Goudas on the cover of Metropolitan Toronto Business Journal in November 1992,
Goudas said Simmonds seemed to have the money to grow his business.
But police said once Simmonds took control, he allegedly replaced the system for maintaining the financial records to misrepresent the financial status of the company.
Simmonds and his co-accused then allegedly submitted fraudulent documentation from one of his many shell companies and business interests to increase the value of the company in order to secure additional money from lenders, creditors, and investors.
York police Det. Ken Bardai said the money — about $30 million in all — was then funneled out to the various shell companies.
Five months after Goudas Food Products and Investments Ltd bankrupt.
'Just the tip of the iceberg'
Bardai said it appears that Simmonds and his organization were using the money to support "a lavish lifestyle."
Now, several more complainants have come forward. "I believe this is just the tip of the iceberg," Bardai said.
The $10 million he received in the deal with Simmonds is gone, re-invested into his now-bankrupt former company.
The people who were once his employees are now jobless, without severance pay. "I lost my life," he said. "Forget about the $10 million."
9 facing fraud-related charges
Nine people in total are facing various charges, including fraud over $5000, conspiracy to commit an indictable offense, and laundering proceeds of crime:
- John Simmonds, 66, of King City
- Carrie Weiler, 57, of Nobleton
- Ian Bradley, 71, of Toronto
- Donald Fenton, 67, of Toronto
- Jason Williams, 44, of Severn
- Michael Grieco, 63 of Vaughan
- Deborah Simmonds, 56, of Aurora
- Tyrone Ganpaul, 67, of Mississauga
- John Mpardakis, 45, of Toronto
Police are asking anyone with information, or anyone who has had business agreements with BLVD Holdings or AC Simmonds Group, to contact Det. Ken Bardai at 1-866-876-5423, ext. 6671 or Crime Stoppers at 1-800-222-TIPS.
With files from Linda Ward
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York police lay 42 charges in a $30 million fraud investigation
Nine people facing charges including fraud and money laundering
CBC News · Posted: Dec 21, 2016 8:15 AM ET | Last Updated: December 21, 2016
York Regional Police have laid 42 charges in connection to a criminal organization responsible for defrauding businesses, banks, and private investors of more than $30 million dollars. Nine people are facing charges after the Police and the Ontario Securities Commission received several complaints from victims alleging they had been defrauded.
Police say that in early 2014, a company called BLVD Holdings, one of 80 shell companies registered by AC Simmonds Group, began the process of acquiring a food shipping company in the York Region.
The food shipping company was purchased for $10 million from the original owner, who had founded it and operated it for the past 45 years.
Once AC Simmonds Group took control of the business, police say it replaced the current system for maintaining the financial records to misrepresent the financial status of the company.
One of the accused then allegedly submitted fraudulent documentation from another shell company he owned to increase the value of the company and secure additional money from lenders, creditors, and investors.
Between April and August 2014, police allege large sums of money were funneled out of the food company to the group of co-accused. Police believe the total fraud value is more than $30 million.
Among the charges faced by the nine co-accused is fraud over $5000, conspiracy to commit an indictable offense, and laundering proceeds of crime.
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King businessman John Simmonds rearrested, faces more charges
NEWS Feb 03, 2017, by Tim Kelly King Connection
King businessman John Simmonds, who already faces 11 charges related to a $30M fraud against food shipper Mr. Goudas, was rearrested Thursday morning by York Regional Police.
Simmonds faces new charges: two counts of participating in a criminal organization, that being A.C.Simmonds, committing an indictable offense of fraud over $5,000, conspiracy, laundering proceeds of crime, and possession of property obtained by crime; and two counts of not complying with the bail conditions he was issued when he was first arrested last year.
Also arrested was Simmond's decades-long corporate secretary and CEO Carrie Weiler of Nobleton who was also charged with four fraud-related counts.
Weiler was granted bail, while Simmonds's bail hearing was held over until Friday morning.
Simmonds plans to plead not guilty to all charges.
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When is the SERIAL SIMMONDS FRAUDSTER going to trial in Bracebridge? I may consider flying up from New Jersey just to sit in the court gallery and stare at this douchebag a hole Fraudster.
John, BUBBA is calling for your pasty plump white ass......the longer BUBBA waits, the more pain your ass will endure.
Ditto for ALL ASS, GREEKO, WILLIAMS, and the rest of the SERIAL SIMMONDS fraudster crew. it must be a mental grind, knowing that you all will be convicted, but having to wait it out......
GOOD LUCK FRAUDSTERS.....HAHA
Goudas, not sure what is happening with Fanotech. I do know that Simmonds is handing out free samples of his new Astroglide knock off to GREEKO, ALL-ASS, and WILLIAMS, plus a few other FRAUDSTERS.
Preliminary reports, through sources that wish to remain anonymous of course, indicate that the new formulation will ASSist in deferring the intense pain ASSociated with repeated gang butt rape at the hands of BUBBA and friends.
Go FRAUDSTERS go, we are all cheering for you to WIN your date with BUBBA.
Are you the least bit surprised?
These FRAUDSTERS set this whole scam up to bilk investors, the RBC, and anyone else with the misfortune to have crossed their paths. Put a fork in it, ACSX is done, ditto with Pacific software (PFSF).
Q. There are at least (12) open civil suits that the SERIAL SIMMONDS FRAUDSTER has yet to file a defense to...WHY? If you are not guilty, you defend yourself, don't you?
Narcissistic FRAUD ARTISTS are usually short on truths, long on 1/2 truths and complete fabricated BS. THE SERIAL SIMMONDS FRAUDSTER is a conman, playing on the greed gene we all share.
Butt (spelled incorrectly on purpose)...If 1/2 of the FRAUD that the Duff & Phelps report outlines was committed by SIMMONDS and his groupies, then he deserves to be sent away for a long time....to Chad, or something..Don't worry Bubba, John Graham Simmonds will not disappoint...He will be there to be your biatch soon.
Well, Rabea Allos seems to have been busy working for the Conservative leadership candidate Andrew Scheer. I wonder if Scheer knows that Allos was arrested for fraud? Allos is buds with the pedophile Senator Don Meredith (a few years back they went together on a "business trip" to Jamaica) who just last week was forced to resign from the Senate. Meredith was involved with Vertility at one point in time.
Full disclosure, coincidentally, I'm involved in the leadership campaign of one of Scheer's rivals and so I have noticed Allos popping up at Conservative events like the leadership debates.
Here is an example of what is going to happen when the SERIAL SIMMONDS FRAUDSTERS are convicted and finally learn that they are all going to jail for a very, very long time.
https://youtu.be/KVGv96sZQ2g There will be pandemonium and chaos..cheers and laughter..crying and remorse..except JGS because he is incapable of such basic human emotions. Don't worry John, Bubba patiently waits for you, and your entourage of SERIAL FRAUDSTERS. Maybe then the gravity of your conceit and depravity will finally sink in.....however, rest assured that a lot of things will definitely "sink in" while you rot away the rest of your pathetic existence in jail. JGS, welcome to Chad......or something.
Understood, but there was quite a bit of alleged shady stuff going on that some people will not want for it to see the light of day......and she was smack dab in the middle of it all, moving all the money around. The level of intimidation (if it is in fact happening) may preclude her from washing all the dirty laundry in public, so she may go down with the ship.
Stay tuned, this will be a roller coaster ride for sure. I hope she is scared shitless about what the future holds for her. If I was the YRP, and I didn't need her testimony to seal the SERIAL SIMMONDS FRAUDSTER's fate, I would let her twist in the wind with the rest of them.
I am sure these clowns were super sloppy, so the money trail should be really easy to follow. They were sloppy because they never thought that someone (RBC) would spring for a forensic audit. They have been here before and gotten away with these penny stock scams for at least a decade.
Many millions (maybe 100's) have been fleeced from greedy trusting investors just like me.
I can't wait to see how this all turns out. Good luck FRAUDSTERS, you are pooched.....and JGS, you WILL spend the rest of your sad existence in a 6 x 9, probably in solitary, because you will have had enough of the constant ass raping at the hands of Bubba and friends. Good luck Douchewad....welcome to Chad or something.
Don't get me wrong, I believe, as you do, that CW knew exactly what she was doing and deserves every bad thing that is coming her way, I just think you give her too much credit when you think she'll remain loyal to JGS. Based on past history, the expression 'No loyalty among thieves" applies to her in spades.
Carrie has been under John's desk for decades.....right there scamming away.
I believe that she knew EXACTLY what she was doing. You don't leave the bank with shopping bags full of cash, without knowing a thing or two about the people you are paying off, working for, or dealing with.
Couple that with her knowledge of share subscription agreements, restricted legend stock, and corporations registered in Las Vegas, and you have further color on what she knew, and when.
I am sure she was handsomely paid for her "silence", and wouldn't risk outing her partners in crime....out of fear for her safety.
She has been helping John pull these penny stock scams for decades, I hope she is "rewarded" with the punishment she so rightly deserves. I hope when she gets out of jail, she is homeless. I hope she has to sell her mansion in Nobleton to pay for her legal fees......I have no love for her or scammers like her who rip off honest hardworking investors, like me.
I think you're very wrong about Carrie Weiler. I have absolutely no doubt, that given the opportunity, that she will cut the best deal possible for herself. She has her bible-thumping persona to protect and I'm sure that she is portraying herself, to anyone who will listen, as another of JGS victims. There is really good evidence against her as well as JGS in the RBC case so I hope no "deals" will be offered.
I assume that most of us who post on this site are here because we "invested" money with Simmonds in his ACSX company. His ripping off of RBC and Goudas has been well reported and documented, but does anyone know how much he and his cronies got out of investors in ACSX? I know that Rabea Allos alone conned one family in Lebanon out of several hundred thousand dollars and dozens of others out of many thousands each. I have a feeling that this ACSX investor scam might have brought in more money than was ripped off from RBC. I'm glad Allos, Williams, Simmonds and the rest of these scumbags have been charged, but I hope the information on how much they defrauded people becomes public knowledge so the world can truly see what horrible people they are and so they can never do this again.
When is THE SERIAL SIMMONDS FRAUDSTER, as well as his entourage of wannabe FRAUDSTERS visiting court again? If anyone knows, please post the links here so we can arrange some popcorn and transportation to sit in the courtroom and laugh our asses off as they desperately try to put off a conviction and a date with Bubba and friends. Williams, Ganpaul, Mparkdis, Grieco, Fenton, Weiler, or any of the other wannabe FRAUDSTERS, save yourselves by rolling over onto JGS.....It will be your best chance to avoid a lengthy prison sentence. Simmonds, get used to Chad, or something.
My guess would be either Greico, Allos, Ganpaul, or Mparkdis....these dudes are scared shitless of being convicted and spending time in a 6' x 9' cell, tossing Bubba's salad.
Williams, on the other hand probably enjoys it, so I think he might be looking forward to 3 squares a day, and a little R & R with Bubba & friends. Fenton was an IR puppet, so even if he did a flip, he would be of little use to the prosecution IMHO. Weiler has been with John for many, many scams, and although she probably knows the most regarding the money trail, her loyalty is to JGS, despite the fact that she is looking down the barrel of a long prison sentence where she will learn the fine art of carpet munching and muff diving, daily. Hard to tell really. Q. If you set a ship full of pestilence and rats on fire at sea, who / what survives? Good question, many plausible answers......can't wait to see how this truly plays out. It is almost worth the loss of my investment.....ah, oh, the drama, the bravado, the plot to stay out of jail, and away from the wrath of Bubba's black mamba...tune in next time folks, for another edition of "as the stomach turns"...... Fuck em all Bubba,
Any bets on who will be the first to flip?
Yes, I posted this link a couple of years back, same douchebag, different scam. He has played drop the soap in jail before and should be able to properly train the rest of the SERIAL SIMMONDS Fraudsters ON THE PROPER WAY TO "RECEIVE" BUBBA......
Go get sum BUBBA......virgin ass awaits...
Is this the Jason Williams we're talking about?
Charged with fraud are:
- Gordon Floyd Levoy of Collingwood, Ontario
- Jason Williams of Collingwood
- Pauline Brandt of Barrie
- Sheryl Campbell of Walkerton
Jason Williams....have you picked out the wedding dress you will be wearing when you are sent to jail to be bubba's prison wife? Tip.....you You should wear beige because you are no stranger to jail, and white is for virgins. Greico, Allos, Ganpaul, and Mparkdis think about the same question.
The time is coming boys, for all of you to face the music and account for your frauds.
I hope this keeps you all up at night, wondering if the juice was worth the squeeze.
Simmonds, welcome to Chad, or something.
Simmonds is getting closer to a date with Bubba......Pretrial recently completed, so all the FRAUDSTERS should now know just how totally screwed they really are...One, or more of them will probably flip on JGS to save their own ass from Bubba's wrath. The next court date is June 6th in New Market...Good luck SERIAL SIMMONDS FRAUDSTERS....you are going to need it.
Any news about what is actually going on right now with all of this?
There is not much actually news out there. Did Matthew Simmonds ever get charged?
I've heard second hand that he and his father had a major falling out.
Perhaps he is going to give evidence against his father?
Does anyone know if anyone else besides Rabea Allos was charged outside of the initial 9 fraudsters?
Rubea was John's third testicle...right alongside Michael Greco and Jason Williams. They will all be cellmates and be made bubba's prison wives. Williams has experience here, he is a convicted felon multiple times, for ripping off Senior Citizens with bogus credit card offers/scam.
He can guide the rest of SIMMONDS FRAUDSTERS on how best to bend over for Bubba when picking up the soap...
Good luck boys, can't wait to say bon voyage at your sentencing hearings, and laugh my ass off as you are all shackled and led away to jail, to meet your fate. Justice will be served soon...
What a bunch of stupid colossal Fuck Ups!!!!!
I just heard from friends and family overseas who invested in Simmonds through Rabea Allos that Allos was arrested this past week. I don't know if there were other arrests, but this brings the total in individuals charged now up to at least 10. Allos is not to have any contact with his victims, so if you are one of them be sure to contact the authorities if he tries to contact you.
I hope Simmonds is at home, ass training...he is going to need it.....what a POS!
Has JGS finally accepted his fate? John, you are going away forever! You will be convicted of your fraudulent crimes, on all fronts, and you will die, alone in jail. But, not before your ass gets hot stuffed, repeatedly by some black mamba...
I am happy to know that you will never be in a position again to rip off any future gullible investors, like me, or insecure entrepreneurs...you pathetic pathological lying POS.
I hope your family finally learns the POS BULLSHIT business tycoon (hardly) / consolidator (aka Cash McGaul) you really are. What a joke, Loser / Idiot! Enjoy the rest of your short, shitty existence,...you deserve everything that's coming to you and more. I will be at your sentencing so I can provide a victim impact statement, and laugh as they take you away to be married to Bubba...
He is going to fight all of these charges to the end because he is a pathetic pathological lying POS. He will be convicted and he will go to jail. And, When he is in jail, is the time we will all get our sweet revenge. He will die there, married to a few Bubbas along the way, eating cold pig slop, and wiping his pasty plump white ass with (2) squares of asswipe per day. Better hope you don't get the shits, shithead.
He shows bravado now, but when the time comes for him to serve his time for his atrocities, inside he will cry out like a little scared school girl.....I for one, CAN'T wait for this day to come soon. Assholes like JGS need to be taught that what they do is dead wrong and that stealing everyone's hard-earned cash has major, life-altering consequences.
Based on the number of fellow fraudsters in training who were charged such as Jason Williams, Michael Greco, Tyrone Gaunpal, and Mparkdis, my bet is he will have at least someone to talk to, unless of course they flip on him to save their own asses....go ahead boys, pin the tail on the donkey...aka JGS.
Wonder how Simmonds is spending his house arrest? Enjoy it while you can douchebag, my sources tell me you are going away to jail for a very, very long time. Bubba waits patiently for you John.....I hope this fact keeps your pasty plump white ass up at night, worrying about spending the rest of your days in a 6x9 cell, wiping your ass with your hands, eating gourmet pig slop, and playing the role of a submissive prison "wife" to multiple Bubbas....you pathetic POS, enjoy the "fruits" of your FRAUDSTER WAYS.
Simmonds DEFRAUDED Millions and Millions of Dollars over the years. Peter Goudas was just the latest in a long line of victims who drank some magic SIMMONDS "pony piss laden" kool-aid, then bent over and...well...the rest is history.
The purchase agreement that Peter signed should have had a few escape clauses built in that should have triggered upon default of the 2.5M$ he was owed, but I guess he did not.
SIMMONDS is a pathetic lying Ahole, he knew EXACTLY what he was doing....you could hear the excitement in his voice when he talked about getting his grimy filthy hands on the Goudas check-book.
All it will take is for 1 or more of his co-accused to "flip", and he is 100% finished.
For him to claim that he stole nothing is complete fiction.
His ass belongs to Bubba now. I hope he likes tossing salad, and playing the role of someone's bitch because that is in his near future now for sure. What a fugly POS / Asshole.
Peter.....I thought MrGEE was you all along. It must be tough to have watched John Simmonds anally violate your company the way that he did.
You spent 40 years building it, he spent (5) months raping it....what a shame Peter.
But don't you worry Peter...the Sri Lankans will lose everything, and Simmonds will die in jail once convicted and sentenced, only after his pasty plump white ass is passed around like a party favor between the Bubbas.
He will never shit properly again..this must at least comfort a Greek-like yourself just a little bit.
You, my friend, unfortunately, will still be dead broke, which is a horrible way to end your 40+ year career. All that is left now is an old website, with "glory day" stories.
Maybe you kept some of the 2M$ of expired Goudas inventory in your garage, which will allow you to at least eat something beyond cat/dog food and saltine crackers.
Good luck Peter, you are going to really need it this time.
The new boys that own Goudas will be lucky if they make it till the end of this year.
The 2 ex-employees owned a company called VINICO Food products while still working for Goudas.
I never filed anything with the CRA.
We are talking tax fraud along with cheating Goudas, which was the hand that feeds them.
Their ego is big now but the time will come when they will have to swallow their balls and close down.
It is a shame that Goudas gave them life and they took whatever Peter had left, which was his brand.
How do you explain 3 Sri Lankan refugees investing over $4 million so far in a ship that is sinking fast? BOYS, IT'S TIME FOR YOU TO PAYBACK WHAT YOU STOLE FROM MR GEE !!!
Simmonds is a colossal SERIAL FRAUDSTER. He sold restricted legend stock and had no plans to file a registration statement, which is the only way the stock we bought trades.
He inflated the receivables between all of his "harem" of 80 companies, then paid their bills with Goudas cash....shameless POS.
This DOUCHEWAD is clearly a pathological liar, with no remorse whatsoever. He has zero chance of redemption because CHEATERS NEVER WIN. He will be spending long days in jail for his crimes, he is far, far away from being innocent. Do you think the cops would waste their time if he was operating legit?
The YRP had the benefit of a forensic audit, paid for by RBC.
This allowed them to follow the money trail, which leads directly back to the SIMMONDS BS scam.
He deserves to rot in prison. Newsflash SIMMONDS....jail is not supposed to be comfortable.
Simply the thought of ending up there is meant to act as a deterrent. Seeing as you never gave a rats ass about any of your victims, why should any of us give you a second thought. YOU ARE A LOWLIFE POS...From you, and I quote
“They hand out strips of toilet paper. It’s barbaric. I thought I was in jail in Chad or something.”
Get used to it Johhnyboy, you are finally going to face the music for the shit you have pulled over the last 17+ years. You haven't operated a legit business, nor bought anything honestly for a long, long time.
You are a toxic POS, who will rot in jail, die of a heart attack, all alone, with a size seven poop chute due to repeated ass rapings at the hand of BUBBA and FRIENDS.
Your pasty, plump, white ass will be passed around like a coveted party favor, for all to "GET SUM"!
Enjoy, CASH MCGALL....you stupid FUGLY POS!!!!!!!
If anyone hears info on when the SERIAL SIMMONDS FRAUDSTER is appearing at court in his orange jumpsuit, please post it on this board. I hope he enjoyed the hospitality of Canada's jail system over the weekend and made a few new friends.....named Bubba....a word of advice...John, if you drop the soap, leave it there.....STUPID LOSER! Get used to it John, and Michael Grieco, and Jason Williams, Carrie Weiler, etc., all of you will hopefully be spending a lot of time behind bars for all the shitty things you have done to 1000's of innocent people. You all are pathetic Pieces of Shit.
Cash McGall.....what a POS!
Don't worry, by the time he is convicted and sentenced for his latest string of FRAUDS, he will never shit properly again. I hear bubba can't wait to get ahold of some of that pasty plump white ass...
Simmonds may get away with screwing the members (pensioners), golf courses, and others who can't afford or have the means to fight back. If it wasn't for RBC and their deep pockets, he probably would have gotten away with it all. Having said that, it's just not right on any account what he did. He's made a mockery of the system, with no regard for the people involved. I guess he is a Cash McCall.
Now that the SERIAL SIMMONDS FRAUDSTER has been charged with the FANOTECH FIASCO, and the AC SIMMONDS Colossal FRAUD....I'll bet the OPP have one more set of charges to lay.....
Remember the retired fixed income golfers that were ripped off in Wasaga Beach when SIMMONDS allegedly took their membership money in the fall but had no intention of opening the courses in the spring? This will be the next chapter in the SERIAL SIMMONDS FRAUDSTER SAGA. It's a good thing that JGS is a trust fund baby, as he is going to need it to simultaneously defend all three sets of indictments.
Do I detect a pattern here?.... I hope once he is convicted, he is sentenced to consecutive terms in prison, where BUBBA and friends will pass his pasty plump white ass around like a party favor......REMEMBER JGS, when you are being repeatedly anally violated (similar to the way you f&cked and screwed all of us) that crime doesn't pay...
Mr. GAY....
If you think I am John Simmonds, you are sadly mistaken...I wrote the original post (post #10 I believe), back in 2014 regarding this scam. I suggest you read it.
If I was JGS, why would I tell everyone what I did, and how I did it? If I were the SERIAL SIMMONDS FRAUDSTER, I would want the least amount of attention drawn to my crimes as possible. Unfortunately, he pissed off the wrong people this time.
RBC doesn't like to be taken for a ride, and their pockets are really, really deep.
They probably paid for a forensic audit, which was turned over to the police.
I do agree that Simmonds should stock up on lube though because where he is going, he is really going to need it.
You probably already bought your fair share of lube, because if this is Peter Goudas, you really got shafted dude.....must be a bummer, watching your empire crumble before your very eyes, able to do jack skippy about it. If this is Rubea, you are next to be arrested. It has to be one of you, because your command of the English language is really poor, at best.
Hi John Club Pack Vaseline is now available at Costco
LIMIT 2 PER CUSTOMER MERRY CHRISTMAS
WTF MORON?????
What side of the plate do you bat from? I think your a Simmonds Schiller/lover!
In the words of a famous Indian guide....." soon come".....
Only 9 charged? What about the son Matthew and Rabea Allos?
dmax2013
How do you like your eggs? Sunnyside up ??
Evidently, John Simmonds is worth over $250-300 million. He should be able to cover his wrongdoings.
I have said for over (2) years that this was a total scam. I HATE to be right in this case, but.oh well..I AM!!!!!
If I am contacted by the authorities, I will tell all. But, until I am, I will just blog about it. Det. Bardai, give me a call!
King businessman John Simmonds charged in $30M fraud against food shipper Mr. Goudas
“Simmonds is a serial fraudster," says former owner Spyros "Peter" Goudas
Peter Goudas MrGoudasBooks.com Peter Goudas said in an affidavit that John Simmonds was a serial fraudster who defrauded the company he built over 45 years.next play/pausepre2/3 King Connection By Jeremy Grimaldi
When Spyros “Peter” Goudas came to Canada from Greece in 1967 he had no money, spoke no English, and knew not a soul.
But he worked hard and earned enough to buy a small packaging plant, eventually growing the new company, Mr. Goudas, into one of Canada’s largest independent food companies, the label for which will be familiar to many, gracing a number of international products ranging from rice to hot sauce to beans.
After 45 years of running the company, Goudas decided to take a step back from the front lines in 2014, eventually selling the company to King City businessman John Simmonds, according to York Regional Police.
But Det. Ken Bardai says Simmonds, 66, is a fraudster who modeled himself on a slick 1960s movie character played by James Garner, who buys failing businesses before reselling them for big money.
He was identified in the Globe and Mail in a 2014 article as chair and CEO of A.C. Simmonds and Sons Inc, a King City company which was then in the process of changing its name from BLVD Holdings Inc.
“It kind of inspired me to be this character called Cash McCall, doing takeovers and that sort of thing,” he told the Globe and Mail.
“I’ve become Cash McCall, so now we’re actually negotiating for the rights to remake the movie.”
The article named him as the co-founder of ClubLink, who had his fingers in a number of “growth sectors” including “international food, oil and gas and waste management” the combined revenues of which were “projected to reach $500 million in the next few years.”
Simmonds grew up in a family business run by his grandfather and then father, which sold light bulbs, radio parts, hi-fi systems and wireless devices in the 1980s and '90s.
In 1993, he says, he bought out the rest of his family from A.C. Simmonds & Sons.
It was in 2014 that BLVD Holdings, one of 80 shell companies registered by Simmonds, according to police, bought out Goudas Food Products for $10 million, giving Goudas stock options in a shell company and promising to make him rich, says Bardai, who has been working on the case for two years.
Over the next five months, Bardai suggests, Simmonds misrepresented how much money the company was making, defrauding creditors, bankers, private investors, and suppliers of more than $30 million.
An investigation was started after police and the Ontario Securities Commission received a number of complaints.
“He was selling shares in his company saying we are on the verge of buying another company, (the shares were sold) to people in Barrie, Huntsville, the GTA, and Florida,” Bardai added, noting that suppliers were also ripped off from the Canada and United States, spreading from York Region to Texas.
“Between April and August 2014 Simmonds… funneled large sums of money out of the existing business to himself and the co-accused…to the point of bankrupting the company.”
It is alleged that about 50 people lost their jobs as a result of the bankruptcy.
In an affidavit to the insolvency proceedings for Goudas Food Products, Goudas explains what he believes happened.
“I now realize John Simmonds is a serial fraudster who is primarily in the business of pumping and dumping penny stock of companies he controls,” he said. “I learned that he has, on numerous occasions, bought, or attempted to buy, operating businesses, and looted them in a manner similar to the manner in which [Goudas Food Products] was looted after I sold it to him.”
In the past, Simmonds, who currently resides in Uxbridge, has also announced plans to open a casino and 12-hole golf course to Wasaga Beach, but was eventually charged with fraud and money laundering by the OPP’s anti-rackets in relation to a Bracebridge waste management vehicle company called Fanotech.
According to media reports the investigation was in relation to allegations by Fanotech owner Gabe Tomassoni that Simmonds was attempting to “raid his company." Also charged in the alleged Mr. Goudas ( John SIMMONDS) fraud is Carrie Weiler, 57, of Nobleton, Ian Bradley, 71, of Toronto, Jason Willians, 44, of Severn, Michael Grieco, 63, of Vaughan, Deborah Simmonds, 56, of Aurora, Tyrone Ganpaul, 67, of Mississauga and John Mpardakis, 45, of Toronto. They have been charged with a slew of offenses including fraud over $5,000, using forged documents, and possession of property obtained by crime. Jeremy Grimaldi is the Crime and Justice Reporter with York Region.com. He can be reached at jgrimaldi@yrmg.com.
Follow him on Twitter and York Region Media Group on Facebook
CHARGES LAID IN $30 MILLION FRAUD INVESTIGATION
Investigators with the York Regional Police Major Fraud Unit have arrested nine people and laid 42 charges in connection to a criminal organization responsible for defrauding, businesses, banks and private investors of more than $30 million dollars.
In November 2014, York Regional Police commenced an investigation into the accused John SIMMONDS and his company AC Simmonds Group. Police and the Ontario Securities Commission received several complaints from victims alleging they had been defrauded by Simmonds and his co-accused.
In early 2014, the company BLVD Holdings, one of the 80 shell companies registered by Simmonds Group began the process of acquiring a food shipping company in the York Region.
AC Simmonds was to purchase the company for $10 million from the original owner who had started the company and operated it for the past 45 years.
Once Simmonds took control of the business, he replaced the current system for maintaining the financial records to misrepresent the financial status of the company. Simmonds and his co-accused, systematically submitted fraudulent documentation from one of his many shell companies and business interests to increase the value of the company in order to secure additional money from lenders, creditors, and investors. Between April and August 2014, in the 5 months that Simmonds had taken control of the food company, he funneled large sums of money out of the existing business to himself, the co-accused, and his shell companies to the point of bankrupting the food company.
The total fraud value at this time is believed to be over $30 million.
Charged:
• John SIMMONDS, 66, of King
• Carrie WEILER, 57, of Nobleton
• Ian BRADLEY, 71, of Toronto
• Donald FENTON, 67, of Toronto
• Jason WILLIAMS, 44, of Severn
• Michael GRIECO, 63 of Vaughan
• Deborah SIMMONDS, 56, of Aurora
• Tyrone GANPAUL, 67, of Mississauga
• John MPARDAKIS, 45, of Toronto
Charges Include:
• Fraud Over $5,000
• Conspiracy to Commit an Indictable Offence
• Use a Forged Document
• Fraud-Other Means
• Laundering Proceeds of Crime
• Possession of Property Obtained by Crime
• Fraud Affecting Public Market
• False Prospectus
Anyone with information or anyone who has had business agreements with BLVD Holdings or AC Simmonds Group are asked to contact Detective Ken Bardai with the York Regional Police Major Fraud Unit at 1-866-876-5423, ext. 6671, Crime Stoppers at 1-800-222-TIPS, leave an anonymous tip online at www.1800222tips.com or text your tip to CRIMES (
This is a link to my first post (of many) from WAY BACK IN 2014 regarding the FRAUD perpetrated by the SERIAL SIMMONDS FRAUDSTER, and others. From this point forward, I have posted 100's of posts to, as accurate, as possible outline the facts as I know them, without bias. I hate to be right, but after today's announcements regarding the 30M$ alleged fraud..well..I told you so!! There were many haters, miscreants, and doubters along the way, but.....in the END, the TRUTH always prevails.
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CTV NEWS Nine people charged in alleged $30M fraud, police say 2016
Courtney Greenberg, CTV News Toronto
Published Tuesday, December 20, 2016, 5:56 PM EST
Last Updated Tuesday, December 20, 2016, 7:12 PM EST
Dozens of charges have been laid against nine people in connection with a fraud investigation worth more than $30 million.
York Regional Police said they started looking into a company called AC Simmonds Group, owned by King City resident John Simmonds, in November 2014.
Officers and the Ontario Securities Commission said they received complaints from businesses, banks private investors alleging they had been defrauded by Simmonds and others.
In early 2014, a shell company called BLVD Holdings – one of 80 registered by the Simmonds Group – began the process of acquiring a food shipping company in the York Region, police said.
The Simmonds Group was expected to purchase the food shipping company from the original owner Spyros Peter Goudas, who had been operating it for the past 45 years.
Police alleged that when Simmonds took over BLVD Holdings, the system for maintaining financial records was replaced and the financial status of the company was misrepresented.
Simmonds and his co-accused systematically submitted fraudulent documentation from one of his many shell companies and business interests, police said. This was done to increase the value of the company in order to secure more money from lenders, creditors, and investors, according to investigators.
During the five months that Simmonds had control of the (Goudas Goudas food product and investments limited under Simmonds), from April to August 2014, police said he funneled large sums of money out of the existing business to himself, the co-accused, and his shell companies.
The food company was eventually bankrupted, according to investigators.
Police said they believe the current total fraud value is more than $30 million.
Officers arrested nine people who are now facing 42 charges, including fraud over $5,000, conspiracy to commit an indictable offense, using a forged document, and laundering the proceeds of a crime.
Anyone with information about BLVD Holdings or AC Simmonds Group can contact the York Regional Police Major Fraud Unit at 1-866-876-5423.
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THE FINANCIAL POST STOCK WATCH Feb 2017
Post says Goudas claims to trust RBC led to bankruptcy
2017-02-15 09:12 ET - In the News
The Financial Post reports in its Wednesday edition that the man who founded Toronto's Goudas Food Products and Investments Ltd in 1969 claims he lost his business to a fraud because he trusted Royal Bank of Canada.
The Post's Peter Kuitenbrouwer writes that Peter Spyros Goudas, an immigrant from Greece, says in court documents that his company, whose products were sold under the name "Mr. Goudas," Goudas Food Products and Investments Ltd went bankrupt in 2014 after Royal Bank encouraged him to trust John Simmonds and because the RBC failed to do its due diligence before it loaned millions of dollars to Mr. Simmonds.
Police have arrested Mr. Simmonds three times on fraud charges -- twice last year and again on Feb. 3. Police say the Goudas Food Products and Investments Ltd fraud involves dozens of victims who lost $30-million.
Peter Goudas says in an affidavit filed in the bankruptcy proceedings that he met Mr. Simmonds in 2014 and that he persuaded the plaintiff that he would be able to expand Goudas Food Products and Investments Ltd into a billion-dollar business.
The offer was conditional on approval from Royal Bank.
The bank told him he could trust Mr. Simmonds.
"My contact at RBC, Donna O'Reilly, advised me that RBC had investigated John Simmonds, that he was a highly regarded businessman," Peter Goudas claims.
© 2017 Canjex Publishing Ltd. All rights reserved.
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Goudas Food Products and Investments Ltd and the Royal Bank of Canada
Article by Jessica L. Lewis Last Updated: April 3, 2017
The Royal Bank of Canada (RBC) has also recently had to answer allegations relating to fraud.
Peter Spyros Goudas, an entrepreneur from Greece who founded Goudas Food Products and Investments Ltd. in Toronto in 1969, has pointed his finger at the Canadian bank, asserting in court documents that he lost his business to a fraud because he trusted his banker.
Goudas alleges that his company went bankrupt in 2014 after the bank encouraged him to trust John Simmonds and because RBC neglected to conduct proper due diligence before it loaned millions to Simmonds.
Simmonds himself is not unknown to the fraud world, having been arrested three times on fraud charges – twice in 2016 and once in early February 2017.
Goudas and Simmonds reportedly met in 2014, and the Greek businessman was persuaded that Simmonds could grow Goudas Food Products and Investments Ltd into a billion-dollar business.
However, the offer apparently was conditional on approval from the RBC.
According to Peter Goudas, the bank told him he could trust Simmonds.
In an affidavit, Goudas stated: "My contact at RBC, Donna O'Reilly, advised me that RBC had investigated John Simmonds, that he was a highly regarded businessman, that the deal was a fair one, and that RBC would be prepared to consent to a change of control in favor of Simmond's company. " This is explicitly denied by the bank in its court documents.
The bank asserts that, contrary to Goudas' statements, Goudas informed the bank in 2014 he wanted to sell his ownership interest in the business to Simmonds.
In March 2014, Simmonds bought the Goudas Food Products and Investments Ltd business for $10m in shares in Simmonds' company.
Simmonds agreed to deposit $2.5m of the purchase price into Goudas' bank account five days after the closing. This did not happen and no money was deposited. Goudas claims he has not been paid.
Police have alleged that Simmonds and his associates forged the Goudas Food Products and Investments Limited books to make it appear as though the company was owed significantly more money than it actually was in order to secure additional funds from other lenders and investors.
After Simmonds took over Goudas Food Products and Investments Limited, RBC increased its loan to the company from $10m to $12m in June 2014.
The bank says it is a victim of fraud, rather than a part of the problem.
In his affidavit, Peter Spyros Goudas went on to say, "It appears that Simmonds was able to borrow against artificial invoices made out to companies related to him or to non-existent companies.
I find this odd because when I controlled Goudas Food Products and Investments Ltd, RBC always rigorously reviewed all my new customers and invoices to ensure that receivables due from such customers were eligible for inclusion in the borrowing base."
Simmonds is out on bail and is under house arrest while awaiting trial.
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Jessica Lewis Short Biography
Jessica Lewis has a broad corporate and commercial litigation practice.
Jessica Lewis has experience in civil disputes pertaining to public company litigation, including the appointment of auditors, oppression remedies, and shareholder and director disputes.
Jessica represents clients in matters involving real estate litigation, mining, and securities, employment law, environmental and regulatory disputes also represent clients in ligation proceedings involving fraud and breach of fiduciary duties.
Jessica has appeared in front of the British Columbia Supreme Court.
Jessica is a member of the Canadian Client Consultation Committee that regulates and oversees the Canadian law school moot for client interviewing. Jessica has also acted as a moot court judge for the first year moots at the Peter A. Allard School of Law and is a Board Member on the Peter A. Allard School of Law Alumni Association Board of Directors.
Jessica Lewis is a member of the Vancouver Bar Association and the Canadian Bar Association.
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THE CANADIAN Peter Spyros Goudas Sues Royal Bank for 200 million and 37 Other Companies 2017
DATE: 30 March 2017
POSTED BY: ADMINISTRATOR
Peter Spyros Goudas thanks all the people that have stood by him and assisted him through the recent events in his life.
Mr. Spyros Peter Goudas spent his entire life to provide the best quality foods for Canadian families, was foremost in introducing a line of ethnic products into Canadian grocery chains and independent stores reflecting the multicultural nature of Canada.
Additionally, he has been a very charity-oriented individual providing food assistance to senior citizen homes, churches, the homeless, charitable organizations, food banks, community housing sites (for various ethnic nationalities), Philanthropic Associations, charitable organizations, cultural organizations, scholarships events, Philoptochos Society's organizations, orphanage housing, floods, earthquakes, typhoons, etc. destitute people and nations across the globe.
Floods in Pakistan,
Tsunami in Sri Lanka,
Earthquake in Haiti,
Hurricane Gilbert in Jamaica
Ivan in Grenada,
Piura Peru Feed The Children Organization,
The Africa mission read the last page,
A trip to Ghana,
The Philippines with Typhoon Haiyan,
poor and underprivileged,
individuals in need, etc., etc, etc...
Peter Spyros Goudas believed he was making his products available to a wider public in Canada, the USA, and the Caribbean by taking the company to the next level by increasing sales to one billion dollars corporation when he was persuaded into selling his business to a public enterprise operated by A.C. Simmonds Group. Peter Spyros Goudas was told that A.C. Simmonds & Sons Inc. was a well-established company operating in Canada for over 100 years manufacturing products from fluorescent light tubes to mattresses.
Little did he know that the potential purchasers were unscrupulous con-artists.
At the beginning of April 2014, Unbeknownst to Mr. Goudas, he had just become a victim of a scam of BLVD Holdings Inc. An artificial public company with scam folksy documentations claim that recently incorporated in Nevada and operated by John Simmonds on behalf of A.C. Simmonds & Sons Inc.
It took John Graham Simmonds BLVD Holdings Inc and his team just four and a half months to drive (Goudas Food Products and Investments Limited) into the ground, forcing the company into bankruptcy.
In the process, John Graham Simmonds and his gang have ruined the good name of Mr. Goudas and related Goudas trademarks and created havoc in the food market
Thankfully, most of the individuals involved in this scam have been arrested by the police for various offenses including fraud, forging documents, conspiracy to commit fraud, false prospectus, and they soon will face a criminal trial.
At the age of 75, Peter has lost one of his businesses that he has worked his entire life for and he is now fighting to recover his reputation.
He has launched a civil action against numerous parties who have caused this disaster including the Royal Bank of Canada, the receiver-manager (Duff & Phelps Canada Restructuring Limited aka KSV Kofman Inc.), John Graham Simmonds and numerous other parties.
Anyone who has attempted to gain compensation from a Bank or large international corporation through the courts will know that Peter Spyros Goudas is in for a difficult and expensive fight.
Peter values your moral support and is prepared to maintain this fight in the public eye so that others do not suffer a similar fate.
Any comments or inquiries can be sent to CNN@CNNADS.COM
Peter Spyros Goudas has approved this press release and can be directly contacted at the above e-mail address with additional information.
NOTICE TO READERS:
The Company, Goudas Food Products and Investments Ltd., was one of the Companies owned by Spyros Peter Goudas that focussed on the distribution of ethnic food products to major and independent supermarkets.
The Company was founded and managed by Spyros Peter Goudas for over 45 years.
It is important for one to understand that Spyros Peter Goudas did not have any A-1 Recall from the CFIA for the 1,200 + products that he created from all over the world.
According to many, all the products were considered as A+ in quality and were some of the best products the world has ever known.
The capability of the company to reach the goal of One Billion Dollars or more in yearly Sales by 2018 was an attainable goal under the expertise of Spyros Peter Goudas and the extra injection of capital promised by the potential buyers.
Unfortunately, the folksy acquisition of Goudas Food Products and Investments Ltd. by the above group somehow quickly resulted in a state of Bankruptcy.
There are several articles and publications, including a statement from the Police, in various media and websites documenting the outcome from this acquisition.
The matter has become a criminal investigation, in the hands of the police.
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ROYAL BANK OF CANADA involved in fraud,
entrepreneur "Mr. Goudas" claims.
ROY HARRIS
February 14, 2017
The man who founded one of Canada’s most beloved brands of ethnic food says he lost his business to a fraud because he trusted his banker, the Royal Bank of Canada.
(Nudge Nudge Wink Wink)
Peter Spyros Goudas, the entrepreneur from Greece who founded Goudas Food Products and Investments Ltd., in Toronto in 1969, says in court documents that his company, which sold food under the brand “Mr. Goudas,” went bankrupt in 2014 after the Royal Bank encouraged him to sell his shares to John Simmonds, and because the bank failed to do its due diligence before it loaned millions of dollars to Simmonds on fraudulent accounts receivable reports that the bank accepted at face value.
As the Financial Post reported, police have arrested Simmonds three times on fraud charges, twice last year and again on Feb 3.
John Simmonds faces eight fraud charges related to a garbage truck manufacturer in the Muskoka region, and 15 charges in the Goudas Food Products and Investments Ltd and related cases.
Police say the Goudas Food Products and Investments Ltd fraud involves dozens of victims who lost $30 million in the scam that involves the Royal Bank of Canada's mismanagement of the affairs of Goudas Food Products and Investments Ltd.
Peter Spyros Goudas says in an affidavit filed in the bankruptcy proceedings that he met Simmonds in 2014: “I was told he was a wealthy, sophisticated, successful businessman by the Royal Bank of Canada.
The tale of the ‘silver-tongued’ financier who left a trail of broken companies and unhappy investors in his wake Bay Street executive rearrested, charged with being a front and involved in a criminal organization associated with the Royal Bank of Canada.
“He persuaded me that he would be able to grow Goudas Food Products and Investments Ltd into a billion-dollar business,” Goudas says.
The offer was conditional on approval from the Royal Bank of Canada.
Goudas said the RBC bank told him he could trust Simmonds and to go ahead with the deal.
“My contact at RBC Bank, Donna O’Reilly, advised me that RBC Bank had investigated John Simmonds, that he was a highly regarded businessman, that the deal was a fair one, and that RBC Bank would be prepared to consent to a change of control in favor of Simmonds’s company,” Goudas says in the affidavit.
“I now realize that Simmonds is a serial fraudster who worked in conjunction with RBC Bank who is primarily in the business of pumping and dumping penny stock of companies he controls with the RBC Bank to millions of unsuspecting investors who lost their life savings and investments that RBC Bank is involved in helping cheat these unsuspecting investors.”
The court last week released Simmonds on bail into the custody of one of his daughters.
He is living under house arrest while awaiting trial. He told the Financial Post that he is innocent.
“I didn’t steal any money,” he said.“Never stolen a dime in my life from anyone.
” It's all the RBC Banks fault they made me do it.
Mark Hamill, a spokesman for Royal Bank, said, “This is before the courts so I can’t comment.
” But we are concerned that numerous senior executives in the Bank may be arrested and charged once all the facts come out. So big payoffs are expected to the Judiciary by the Legal Community.
The Royal Bank of Canada in court documents says that it did not recommend that Goudas sell to Simmonds.
The bank said Goudas met RBC Bank representatives in March of 2014 “to inform RBC Bank that he wished to sell his ownership interest in Goudas Food Products and Investments Ltd” to Simmonds and RBC Bank approved the sale.
That month, Simmonds bought Goudas Food Products and Investments Ltd for US$10 million in shares in a worthless Simmonds’s company, A.C. Simmonds and Sons Inc.
But Peter Goudas says he never got paid a dime or received the transferred shares.
John Simmonds agreed to deposit the US $2.5-million of the purchase price into Peter Goudas’s bank account within five days of the closing.
When RBC Bank recognized Simmonds and his designates assigning authorities for Goudas Food Products and Investments Ltd, “I assumed that the $2.5-million had been deposited on my behalf,” Goudas said in the affidavit. “In fact, the funds were never deposited thanks to RBC Bank participating in the stock fraud currently under investigation.”
Police allege that Simmonds and eight co-conspirators (unnamed RBC Bank senior employees cooked the bank financial records and books at Goudas Food Products and Investments Ltd to make it appear that customers owed the company a lot more money than was the case, “to secure additional money from RBC Bank and other lenders, creditors and investors.”
RBC Bank, in the court documents, acknowledges that it increased its loan to Goudas Food Products and Investments Ltd from $10 million to $12 million in June 2014, after Simmonds took control of the company.
But the bank says that it was a victim and that their staff had participated in the fraud and had no liability insurance in place to cover Mr. Goudas's claim but the RBC Bank would pay off judges behind closed doors in cash to wash the bank of its liabilities to its longtime customer Mr. Goudas.
RBC Royal Bank of Canada claims that “Goudas (Goudas Food Products and Investments Ltd (Company) under Simmonds has knowingly made material and serious misrepresentations to RBC Bank concerning the assets which comprise the borrowing base for the loan,” Robert Kizell, managing director in the asset-backed lending division at RBC, says in an affidavit. (nudge nudge wink wink )“Such misrepresentations enticed RBC Bank to allow Goudas Food Products and Investments Ltd (Simmonds) to make drawdowns under the new money loan which involved lawyers and accountants who knowingly defrauded shareholders of the RBC Bank of Canada as they have the skills necessary and one wonders how solid is the Asset base of the Royal Bank of Canada these days.
Are their financials really what they are or just how many other fraudulent loans and Ponzi schemes are floating in the wings of Royal Bank of Canada.“Any improper transfer of funds from Goudas Food Products and Investments Ltd (Simmonds) to related parties (or elsewhere) was not apparent to RBC until the field examination” in July and August 2014, Kizell said in the affidavit.But Peter Spyros Goudas alleges that the RBC bank let down its guard and has liabilities owed to him by the Bank.“It appears that Simmonds was able to borrow large sums of money against artificial invoices made out to companies related to him or to non-existent companies,” Goudas adds. “I find this odd because when I controlled Goudas Food Products and Investments Ltd, RBC Bank always rigorously reviewed all my new customers and invoices to ensure that receivables due from such customers were eligible for inclusion in the borrowing base.” Yes, RBC Bank senior employees are not clean in their dealings with Canada's Business Community and Law Enforcement should crack down and investigate the RBC Bank and their partner in crime The Bank of Nova Scotia as the cracks are starting to grow larger as the Canadian Banking System becomes shaky and Ponsi business schemes are exposed.Goudas Food Products and Investments Ltd went bankrupt at the end of August 2014.
The court in February 2015 approved the sale of Goudas Food Products and Investments Ltd assets to Golden Food & Manufacture Ltd., a trio of investors, two of whom are longtime employees of Goudas.
The Goudas Food Products and Investments Ltd court-appointed receivership, which names as defendants A.C. Simmonds and Sons Inc., John Simmonds’s company, and 19 of its affiliated companies, remains before the courts.
The court dismissed an attempt by the defendants to have the case dismissed as well as add the Royal Bank of Canada ET AL as defendants as further arrests could be made as the domino effect could unhinge the RBC Bank and numerous executives involved in this fraud and other frauds yet to be uncovered.
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GLOBAL NEWS By Adam Miller
John Simmonds charged in $30 million fraud Dec 2016 Canadian businessman, ClubLink co-founder John Simmonds charged in $30 million fraud
By Adam Miller Online Journalist Global News
A prominent Canadian businessman and co-founder of Canada’s largest golf club operator has been charged with eight business associates in connection with an alleged criminal organization that defrauded businesses, banks, and investors of more than $30 million.
In November 2014, York Regional Police launched an investigation into John Simmonds, 66, of King City, Ont., and A.C. Simmonds and Sons Inc., of which he is the chairman and CEO.
Police and the Ontario Securities Commission said they received several complaints from people who claimed to have been defrauded by Simmonds and his co-accused.
In early 2014, investigators determined the company BLVD Holdings was one of 80 shell companies registered by A.C. Simmonds and Sons Inc. and had begun the process of acquiring a food shipping company in the York Region.
A press release from March 2014 showed BLVD Holdings acquired Goudas Food Products and Investments Ltd.
“This gives us a secure foothold in a growth market which is strategically key to our long term success,” Simmonds said in the release.
“Peter Spyros Goudas has built a successful operation with reliable brands and good market penetration.
We see numerous growth opportunities including Western Canada and the United States.”
The release said Goudas Food Products and Investments Ltd grew “to be a leading Canadian supplier of ethnic and international food products” from “modest beginnings” in 1967 and was projected to double its profits in 2016 under the continued management of its founder Spyros (Peter) Goudas.”
“John G. Simmonds began his career with AC Simmonds and Sons, now in its 96th year,” the release stated.
“He co-founded the largest Canadian golf course operation and has successfully grown companies and built effective teams. Simmonds has served as chairman and board director of several public companies.”
But police said that once Simmonds took control of the business, he replaced their system of maintaining financial records to “misrepresent the financial status of the company.”
“Simmonds and his co-accused, systematically submitted fraudulent documentation from one of his many shell companies and business interests to increase the value of the company in order to secure additional money from lenders, creditors and investors,” police said.
“Between April and August 2014, in the five months that Simmonds had taken control of the food company, he funneled large sums of money out of the existing business to himself, the co-accused and his shell companies to the point of bankrupting the food company.
The total fraud value at this time is believed to be over $30 million.”
Simmonds was also charged by the Ontario Provincial Police in July with two counts of fraud over $5,000, two counts of theft over $5,000, two counts of money laundering, and two counts of possession of the proceeds of crime.
Police alleged he became involved in an attempt to purchase the Fanotech Group of Companies, which manufacture garbage trucks and waste receptacles in Huntsville and Bracebridge, Ont. between 2009 and 2011.
The Globe and Mail profiled Simmonds in its “Success Stories” section in July 2014, and said his company “acquires profitable businesses for expansion and development.”
A.C. Simmonds and Sons Inc. had also worked in the film industry and the profile said it also had businesses in the international food, oil, and gas, mold remediation, waste management, renewable energy, and leisure industries with combined revenues projected at more than $500 million.
“Mr. Simmonds grew up in the family business, originally founded by his grandfather as A.C. Simmonds & Sons Ltd., in 1918. After abandoning law studies [his grandmother’s wish], he joined as a partner in 1975,” the story stated.
“Between 1989 and 1993, Mr. Simmonds co-founded and developed the ClubLink public golf enterprise with his brothers.
By 1993, he bought out all other family members of A. C. Simmonds & Sons, and he has been chairman and CEO since 2003.”
Simmonds said in the story he had “probably acquired a couple of hundred companies” over the years and that he intended to buy 25 more in the second half of 2014.
“I can’t imagine doing anything else. I don’t excel at golf. Pretty much what I excel at is buying, selling and operating businesses,” Simmonds said. “This is my life and I wouldn’t change it for anything.”
A full list of the suspects charged are as follows:
- John Simmonds, 66, of King City, Ont.
- Carrie Weiler, 57, of Nobleton, Ont.
- Ian Bradley, 71, of Toronto
- Donald Fenton, 67, of Toronto
- Jason Williams, 44, of Severn, Ont.
- Michael Grieco, 63 of Vaughan, Ont.
- Deborah Simmonds, 56, of Aurora, Ont.
- Tyrone Ganpaul, 67, of Mississauga
- John Mpardakis, 45, of Toronto
The accused face the following charges:
- Fraud Over $5,000
- Conspiracy to commit an indictable offense
- Using a forged document
- Fraud by other means
- Laundering the proceeds of crime
- Possession of property obtained by crime
- Fraud affecting the public market
- False prospectus
Anyone with information or anyone who has had business agreements with the companies BLVD Holdings or A.C. Simmonds Group is asked to contact Det. Ken Bardai with the York Regional Police Major Fraud Unit at 1-866-876-5423, ext. 6671 or Crime Stoppers at 1-800-222-TIPS.
With files from Leslie Whyte
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