admin, Author at Trifecta Solutions Sat, 08 Apr 2023 23:48:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.6 230911374 Owner of the Canada Student Loan Service Provider (Finastra) Nailed For Tax Crime in the U.S. https://trifecta-solutions.org/owner-of-the-canada-student-loan-service-provider-finastra-nailed-for-tax-crime-in-the-u-s/ https://trifecta-solutions.org/owner-of-the-canada-student-loan-service-provider-finastra-nailed-for-tax-crime-in-the-u-s/#respond Sat, 08 Apr 2023 23:48:34 +0000 https://trifecta-solutions.org/?p=332 Owner of Finastra registered in the Cayman Islands (through Vista Equity Partners) whose CEO is American billionaire Robert Smith, assumed control of the Canada Student Loan Service Provider inside the National Student Loan Service Center (NSLSC) in 2017. From Finastra’s website: “Finastra is the Canadian industry leader in delivering student lending programs, servicing key clients […]

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Owner of Finastra registered in the Cayman Islands (through Vista Equity Partners) whose CEO is American billionaire Robert Smith, assumed control of the Canada Student Loan Service Provider inside the National Student Loan Service Center (NSLSC) in 2017.

From Finastra’s website:

Finastra is the Canadian industry leader in delivering student lending programs, servicing key clients such as the Government of Canada, provincial governments and a number of financial institutions.” 

Sources: https://www.finastracanada.com/student-lending/

Vista EP purchased the prior service provider put up for sale, DH Limited Partnership, with little acknowledgment of the change by the Canadian Government of the negative impact this would have on Canadian students and taxpayers. With the lack of transparency surrounding the Student Loan contract, it begs the question; is the Canadian Government complicit?

The Canada Student Loans Program and its National Student Loan Service Center is no stranger to scandal. The Nelnet fiasco more than a decade ago was certainly an indication. Now, we have an American billionaire engaged in tax crime against the U.S. government and one of his companies (Finastra) camping out in the National Student Loan Service Center and carrying on business as the service provider to the Canada Student Loans Program unbeknownst to the Canadian public.

“Smith, whose code name was “Steelhead,” according to prosecutors, has admitted to hiding profits in offshore accounts and filing false tax returns for 10 years. He is cooperating with investigators and faces no charges. But his complicity in the alleged tax crimes has stunned the many who had seen a role model in the charismatic 57-year-old entrepreneur, often ranked as the wealthiest Black person in the United States.

These two sides of Smith — the impressive generosity on one and the admitted tax evasion on the other — may be hard to reconcile. But they are inextricable, according to documents reviewed by The Washington Post, including charity filings with tax authorities and Justice Department court filings.”

Robert Smith, of Vista Equity Partners and Finastra, Tax Crimes
https://www.washingtonpost.com/business/2020/11/09/smith-brockman-tax-evasion/

Finastra Registration In Cayman Islands 
https://find-and-update.company-information.service.gov.uk/company/FC034398

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Wiping Out Canada Student Loans in Bankruptcy: Good Faith = Success https://trifecta-solutions.org/wiping-out-canada-student-loans-in-bankruptcy-good-faith-success/ https://trifecta-solutions.org/wiping-out-canada-student-loans-in-bankruptcy-good-faith-success/#respond Sat, 08 Apr 2023 23:41:40 +0000 https://trifecta-solutions.org/?p=329 The question is often asked: “If I go bankrupt will my student loan(s) be discharged?” The answer to this is you will not know until your case is examined by a judge in a bankruptcy court on that day it is to be heard. Your bankruptcy trustee can tell you anything, but really – they […]

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The question is often asked: “If I go bankrupt will my student loan(s) be discharged?” The answer to this is you will not know until your case is examined by a judge in a bankruptcy court on that day it is to be heard. Your bankruptcy trustee can tell you anything, but really – they don’t even know.

Another thing to consider is that a large number of people in the last several decades that have filed for bankruptcy in Canada wound up still owing and having to pay their student loans despite being told otherwise by their bankruptcy trustees. Why is that? There are a number of reasons but the most common are court-imposed conditions that must be met before consideration for an order for discharge. Or the (dreaded) motion to oppose a discharge of the student loan by the government by its appointed legal counsel, and the court being satisfied by these convincing defence lawyers thus denying you much deserved relief.

Sounds like a prison sentence doesn’t it? Well, figuratively it is since student loans are quite big and unless you can pay the interest you could be looking at a lifetime of captivity.

The one single piece of advice you should consider – do not go bankrupt unless you are “really” bankrupt and have a completely honest and workable strategy going forward. One that will work towards satisfying the court that you should not be forced into an exceedingly long period (even lifetime for some); of servitude to the very lucrative government cash cow, the Canada Student Loans Program.

Also, the cost may exceed value and that is just how it is with the “business of bankruptcy” unfortunately. It needs to sell it and ultimately move people through the bankruptcy production line in order for it (the bankruptcy business) to survive. Unfortunately, though lots of people end up bankrupt that really should not have gone this route without first making sure it is the RIGHT move on the financial chess board of life.

But – if you’ve already taken the bankruptcy path then it is important that you become familiar with your surroundings and options so you can prepare to deal with the aftermath if it is not a favorable one.

On the other hand, Bankruptcy is necessary for certain people and businesses who have no other reasonable way to service debt and financial responsibilities. These are in effect – bankrupt. The mechanisms for grading the level of good faith and behaviour of the bankrupt by the court is easier to satisfy in such cases because of the severity of financial crisis and, that by entering Bankruptcy proceedings it has been done so in good faith. So, the protection Bankruptcy offers this smaller percentage of people and businesses is a blessing to say the least.

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Billion Dollar Scandal: Canadian Government working with corrupt foreign financial giant who secretly controls Canada Student Loans Program. https://trifecta-solutions.org/billion-dollar-scandal-canadian-government-working-with-corrupt-foreign-financial-giant-who-secretly-controls-canada-student-loans-program/ https://trifecta-solutions.org/billion-dollar-scandal-canadian-government-working-with-corrupt-foreign-financial-giant-who-secretly-controls-canada-student-loans-program/#respond Sat, 08 Apr 2023 23:38:05 +0000 https://trifecta-solutions.org/?p=325 A very secretive and large foreign company registered out of the Cayman Islands, Finastra, is in control of and profiting from the Canada Student Loans Program, by being able to divert hundreds of millions of Canadian taxpayer’s dollars out of the Canadian economy. Owner of Finastra (Vista Equity Partners) whose CEO is American billionaire Robert […]

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A very secretive and large foreign company registered out of the Cayman Islands, Finastra, is in control of and profiting from the Canada Student Loans Program, by being able to divert hundreds of millions of Canadian taxpayer’s dollars out of the Canadian economy.

Owner of Finastra (Vista Equity Partners) whose CEO is American billionaire Robert Smith, assumed control of the Canada Student Loans Program in 2017 by purchasing the prior service provider, DH Corporation, with little acknowledgment of the change by the Canadian Government of the negative impact this would have on Canadian students and taxpayers. With the lack of transparency surrounding the Student Loan contract, it begs the question; is the Canadian Government complicit?

In April 2017, the Canadian Competition Bureau noted the purchase of DH Corporation, the service provider of the Canada Student Loans Program, by two different Vista Equity Partners investment funds: Vista Fund IV and Vista Fund VI.

Source: https://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/02435.html#april

Then, Investment Canada noted that a different company, Tahoe Canada Bidco, Inc., based in Austin, TX, USA, purchased D+H in June 2017. So here we have 2 different companies who could have purchased D+H.

Source: http://www.ic.gc.ca/eic/site/ica-lic.nsf/eng/lk-31706.html#t1

Tahoe Canada Bidco Inc v DH Corporation

The Commission has approved, without conditions, the proposed intermediate merger whereby Tahoe Canada Bidco Inc (Bidco) intends to acquire DH Corporation (DH).

Bidco, a UK company, has been formed for the purposes of the proposed transaction. Bidco is controlled by Misys Limited, a UK private company, which is controlled by funds managed by Vista Equity Partners LLC. Bidco does not control any firms. Misys is, among others, a provider of software and related services to the financial services industry.

Tahoe Bidco is the company that appears as an investor for the Investment Canada Act’s review. Tahoe though was not the company that Vista submitted to the Competition Bureauin this case Vista claimed the investor was two of its funds.

Source:https://www.marketscreener.com/news/latest/South-Africa-Competition-Commission-Statement-on-the-decisions-of-the-Competition-Commission–24554718/

Adding further ambiguity to the question of ownership, Public Works and Government Services Canada stated in March 2018 that DH Limited Partnership is the service provider to the Canada student Loans Program and holds that contract.

Source: https://buyandsell.gc.ca/procurement-data/contract-history/G7514-120001-001-XQ-0

And yet, as this next document shows, DH Limited Partnership was not a real (active) company when this federal contract began in March 2018. In the current lawsuit against them, the attorney for the defendants (Chris Madill, with Stewart McKelvey Law Office in Halifax) supplied The CFW Group’s attorney (Peter Coulthard, with Sealy Cornish Coulthard in Halifax) with a document saying DH Limited Partnership, the private company that is the federal contract holder and service provider to the Canada Student Loans Program was dissolved months prior to the contract activation, in November 2017.

Source:http://www.cfwgroup.ca/the_cfw_group_inc_who_is_Finastra/DH%20Limited%20Partnership%20Dissolution%20Nov%202017.pdf

Furthermore, the primary executives who are directly involved with administering the Canada Student Loans Program all claim in their LinkedIn profiles that they are working for the company “Finastra”.

Finastra was created in Great Britain by US-based Vista Equity Partners and is not publicly traded.Here are a few executives who are involved and overseeing the Canada Student Loans Program administration who actually work for Finastra.

Douglas Gihooly

https://www.linkedin.com/in/douglas-gilhooly-8693a47/?originalSubdomain=ca

Bob Zebeski

https://www.linkedin.com/in/bob-zebeski-1707b66b/?originalSubdomain=ca

Ryan McIntosh

https://www.linkedin.com/in/ryan-mcintosh-312ba9120/?originalSubdomain=ca

So, who exactly is it that is administering the Canada Student Loans Program through it’s National Student Loan Service Center (NSLSC)? The government says it is the publicly traded company “DH Limited Partnership”, but that company was dissolved in 2017. When one goes to the DH website to inquire about Canada student loans and their administration of it, the viewer is redirected to this private and not publicly traded company – Finastra.

Owner of the Canada Student Loan service provider (Finastra), Robert Smith, involved in Tax Crime

The government of Canada gives opportunity for Canadians away to corrupt businesses without any oversight whatsoever. The large and one of the most lucrative financial contracts involving billions of taxpayer dollars, the Canada Student Loans Program, is one that needs to be seen.  The question now – “Is the government knowingly handing out to the corrupt world thus depleting the economy of opportunity and resources that could fix a lot of the problems we face in Canada today?” must be asked. The lack of transparency and “covering things up” in regard to who the actual Canada Student Loans Program is controlled by is a definite red flag.

In a startling new discovery, the man behind the entire show is Finastra’s owner, Robert Smith, and man that holds total control of the National Student Loan Service Center in Canada, is now on the hot seat for tax crimes.

“Smith, whose code name was “Steelhead,” according to prosecutors, has admitted to hiding profits in offshore accounts and filing false tax returns for 10 years. He is cooperating with investigators and faces no charges. But his complicity in the alleged tax crimes has stunned the many who had seen a role model in the charismatic 57-year-old entrepreneur, often ranked as the wealthiest Black person in the United States.

These two sides of Smith — the impressive generosity on one and the admitted tax evasion on the other — may be hard to reconcile. But they are inextricable, according to documents reviewed by The Washington Post, including charity filings with tax authorities and Justice Department court filings.”

https://www.washingtonpost.com/business/2020/11/09/smith-brockman-tax-evasion/

Finastra in the National Student Loan Service Center: Registered Offshore in Cayman Islands!

Unbeknownst to the Canadian taxpayer, the government of Canada is funneling a heavy load of taxpayer money to Robert Smith of Finastra, a foreign company registered out the Cayman Islands.  The Canadian taxpayer needs to know the truth about what the government is doing with public money and our economy.

Source: https://find-and-update.company-information.service.gov.uk/company/FC034398

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