Epic Alliance: Sask. real estate company that lost investors millions reaches settlement [Video]

The founders of a Saskatoon real estate investment company that left investors with millions of dollars in losses have reached a settlement with Saskatchewan’s financial and consumer watchdog.

In a settlement with the Financial and Consumer Affairs Authority (FCAA) approved earlier this month, Rochelle Laflamme and Alisa Thompson, the founders of the now-defunct company Epic Alliance, have agreed to pay fines totalling $300,000, and are restricted from selling and promoting investment products for 20 years.

In 2022, a court-ordered investigation found that $211.9 million dollars invested in the company by multiple investors were mostly gone.

The meltdown of Epic Alliance resulted in significant financial losses for more than 120 investors, mainly from British Columbia and Ontario.

The company offered a “hassle-free” landlord program — offering to manage homes for out-of-province investors.