Calgary - The law firms of McNally Cuming Raymaker and McLennan Ross have commenced a class action on behalf of Heike Enticknap and approximately 1000 other investors who were victims of an investment scheme which was allegedly coordinated by HMS Financial Inc. Initial estimates of amounts lost by investors as a result of the scheme are about $100,000,000. The claim alleges HMS Financial represented to investors that they were investing funds in major projects worldwide that would obtain a high rate of return. Investors were frequently presented with a business plan setting out the investment objectives for HMS. None of these documents appear to have been cleared with the Alberta Securities Commission or other relevant authority. In addition, it is alleged that investors were told that their investments were protected by bonds or cash held by HMS lawyers, including Mr. Garth Bailey. It is alleged that there appears to have been no valuable security of this kind for the funds provided by investors, and HMS has defaulted in its payment obligations. The action will seek to recover against the principals of HMS, and the lawyers, accountants, and banks that facilitated the scheme. Anyone interested in participating in the action should contact Bill McNally with the firm of McNally Cuming Raymaker at 261-1555 (Calgary) or 1-800-682-2480 or e-mail bmcnally@mcnallycuming.com. The class action has not been certified and the allegations have not been ruled on by a court. | 
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