Wednesday, November 20, 2013

Pigeon investors are testifying

The Crown Attorney Lynne Robinson is presenting a parade of disgruntled investors who bought pigeons in the jury trial of Arlan Galbraith who is accused of fraud in the way he operated Pigeon King International of Waterloo.

One day this week is typical.

John Guetter of Woodstock said he lost $150,000 and ended up eating a lot of squab (pigeon meat) after Galbraith declared bankruptcy in June of 2008.

Clarence Murray of Saskatchewan said he lost $50,000 and that he invested in breeding pairs of pigeons because Galbraith said he had sales deals to Saudi Arabia and China.

Mary Mackay of Embro said she and her husband signed three contracts with Pigeon King International and ended up losing $250,000.

Lynn Strenzke and her husband, who farm near Maryhill, were late investors and were told the market would be for squab. She said they lost more than $190,000.

Galbraith has been blaming critics’ “smear campaign” for ruining the company.

He has been defending himself, despite repeated and strong advice from the judge who presided at the preliminary hearing that he needs a lawyer.

The jury trial is expected to last until Christmas.