“The scope was unreal” “The scope was unreal”
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In 2007, we received an email from an  anonymous source claiming to be a member of  Andre Muran’s staff. The individual detailed the  structure for the straw-man mortgage fraud deals  that Muran and Smith were operating. The  source also warned that “the next big scam  would have ‘Elevations’ in the title.   At the time, we did not publish the emails nor  warnings about their contents because we had  no way to verify the information they contained.   It is clear at this point in time that the warning  was real. The Elevations investors were bilked out of  millions (one source claims in excess of $40  million) and, as far as we can tell, the project was  never more than the promotional materials you  see here.  On the corporate registration,  Andre Muran was listed as the  Director of Elevations. By the time  this scam got rolling however, the  negative information about Andre  Muran on the web made using his  own name too risky to the plot. In a promotional video from their  website, Andre Muran’s son Theo  is represented as being the  Director of Elevations. In this shot,  he is barely 23 years old. Numerous people in Canmore who had heard of the project have said they believe it was Muran’s intention to  actually build the Elevations project however, issues in obtaining needed building permits or other red tape  prevented it’s completion.  At one point, Theodore Muran was named as the director of Rundle Ridge Chalets, a property immediately next  to the former Banff Gate Mountain Lodge and Spa. That was the spot where the Elevations project was to be  built. Whatever the case, when the project did not pan out, Andre Muran did not return the millions of dollars in  investments to individuals who unwittingly backed him.  The victims of the Elevations scam, like the Chateau World victims, have little hope of recouping their losses as  nobody seems to know where the money went.  It should be noted that  the companies who  developed these  animations were not  aware that there was  anything amiss with  this project. One  animation developer  contacted us at one  point because he had  not been paid for the  work he did.  W. Murray Smith, Michael Brake and Theo Muran appear to be misrepresented in this promotional material. These images, taken from the experiencecanmore.com website , which has since been removed. © L.Goodwin 2011-2012