Carlo is a member of the SIREG Investor Recovery Coalition who invested through The Simple Investor. This is Carlo’s story, in their own words.
In Carlo’s words
Carlo Cortese
2501481 Ontario Ltd.
14.66% JV partner in 10 Cartier Court , Brockville
September 29, 2021 I invested in a Joint Venture with The Simple Investor. My friend George P. told me about this investment receive 30% each year for 2 years on my investment, possibly I would receive before the 2 year mark. After the 2 years were up George kept telling me they had a delay in converting from rental units to condominums but in a few months it should be resolved. After 3-4 months contacted him again and he had another excuse, excuse after excuse and led on upto August 20, 2026 last time I spoke to him . We left it that 6 months earlier I told him convert my investment into 7 units anywhere he had them available and give me the best price possible, again I was waiting and waiting and calling him and asking for the proposal but nothing was getting done , he told me Todd Slater was sick etc etc. I wanted the units so at least I can receive the rental income rather then receiving nothing for 5 years that passed. Anyways now I received this bad news from George P. in a text message saying he was sorry he didnt know how to explain this he felt bad.
Carlo Cortese
What’s happening: the SIREG and Simple Investor situation in brief
If you arrived here looking for news about The Simple Investor, SIREG Management or Todd C. Slater, here is the short version.
- Who: The Simple Investor brand and SIREG Management Inc. were founded by Todd Slater (Todd C. Slater), a former talk-radio host. They sold condo units and joint-venture investments to individual Ontario investors, many on a “guaranteed rent”, hands-off model (The Globe and Mail).
- September 2026: SIREG Management reported “liquidity challenges” and investors stopped receiving their payments (CTV News, CBC News).
- The regulator: the Condominium Management Regulatory Authority of Ontario (CMRAO) took regulatory action against SIREG Management Inc., including immediate licence suspensions (CMRAO).
- Insolvency: several SIREG and Simple Investor companies have filed for insolvency, the process many people search for as the “Simple Investor bankruptcy” (The Globe and Mail, Insolvency Insider).
- People named: coalition members have been asked to share any first-hand documents about their dealings with SIREG Management representatives, including Todd Slater and Sheila Vos Slater, with the coalition’s legal team.
The SIREG Investor Recovery Coalition (the SIREG coalition) brings affected investors, condo owners and tenants together to share information and pursue recovery through the proper legal and regulatory processes. No allegation against any individual has been proven in court.
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