investment company known as Pink Piggy Investment Group Inc. has had his license to manage condominiums in Ontario revoked.
The April 5 ruling by Colin Osterberg, Vice-Chair of Ontario’s Licence Appeal Tribunal , was unequivocal in weighing the evidence against Mr. Berger: “The Tribunal can have no confidence that he is prepared to act in accordance with the law or with honesty and integrity in the future.” Two board members testified that they were never informed of Mr. Berger’s connection to Pink Piggy, and Mr. Osterberg concluded that only some members of the board knew in advance that Pink Piggy would be getting $500,000 of the condo’s money.
Mr. Osterberg also found that the cryptocurrency plan failed to meet the definitions in the law of an eligible condo reserve fund investment.