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Dec
21

RIAZ MAMDANI-Accused Fraudster-Shot in Assassination Attempt!

Riaz Mamdani

Millionaire real estate developer alleged Fraudster Riaz Mamdani was ambushed and shot outside his Mount Royal home Monday.

Calgary police were called just after 8 a.m. to the front of a house in the 2200 block of 7th St. S.W. where they found a man inside a car suffering from gunshot wounds. Mamdani, chief executive and founder of the real estate investor Strategic Group {AKA: Platnum Equities}, was identified as the victim by a company spokeswoman, who said he is in stable condition.

Police said in a release Monday afternoon that the shooting was likely targeted, though an exact motive is not known.

“The shooter definitely knew where he was and who he was going after,” Staff Sgt. Travis Baker said. “I don’t know what the motive was at this point, but we believe that the shooter knew where he was and what he was doing.”

Mamdani-Rolls Royce

A Rolls-Royce Phantom with front-end damage and bullet holes through the windshield was cordoned off by police in front of the Mamdani home, among the most valuable homes in Calgary.

“As for the damage to the front of the vehicle, we believe that was a result of the victim hitting the gas pedal and running into a stationary object,” Baker said. “I believe it was a barricade of some sort.”

Baker said Mamdani was in the driver’s seat of the vehicle and suffered multiple injuries. At least one other person was in the vehicle at the time of the shooting, but Baker would not comment on that person’s relationship to Mamdani.

Not long after the shooting and several blocks away, fire crews responded to reports of multiple explosions in the 3800 block of 7th Street S.W.

Fire department spokeswoman Carol Henke said when firefighters arrived they found a Hyundai Santa Fe on fire in an alley parked between two garages.

Crews extinguished the fire in the empty vehicle, but not before the flames damaged the garages.

“We’re certainly looking into both of them with the strong suspicion that maybe they’re connected,” Baker said. “Arson is looking at that side of it, but they’re working hand in hand with us.

A search of court documents revealed a long list of grievances against Mamdani.

The businessman is named as a defendant in two class action lawsuits, one of which claims $10 million in damages, and another in which investors claim they lost $200 million — the latter which was certified last year.

The $10-million claim, filed in June 2014, alleges Mamdani was involved in an investment deal in which investors in Alberta, Ontario and B.C. agreed to purchase a parcel of land through two Platinum Lands corporations.

Their claim states the investors raised $6.4 million to fund the purchases from SSAM Land Corp.

But it says SSAM, for which Mamdani was the directing mind, claimed the transaction was never closed because it had only received $5.7 million from the Platinum companies, controlled by defendant Shariff Chandran.

“At all relevant times, Mr. Chandran and Mr. Mamdani were close and long-term business partners in the real estate business in Alberta,” it says.

The lawsuit alleges the two parties conspired to collect the investors’ money “and then … wrongfully take the investor funds for their own personal benefit.”

In the certified class action lawsuit, individuals — including Mamdani — and companies associated with the Platinum Group have been sued over allegations of misused investments.

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