Monday, July 27, 2020

Is the 2.1 billion dollars missing from AIMCO sitting in General Revenues?


AIMCO is not arm's length from the government.  Under the last Conservative Government, Jim Prentice, they stole 7 million dollars from the Government pension funds, then, denied doing so for 6 weeks.  At that point the union threatened to take AIMCO to court and the Government capitulated and put the money back into the pensions.  The loss of AIMCO was explained as poor performance in the market, just like the present loss of 2.1 billion dollars.

Kenny made the moves of building a pipeline to North Dakota, going nowhere, not targeting any market then, it was cancelled by US Republican intervention. 

It is my opinion, Kenny lifted the 2.1 billion dollars from AIMCO and dropped it into general revenues.  If we had a securities commission that was worth anything, this could be verified.   Another good reason to give the Federal Securities authority in Alberta.

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