I see they seem to be whitelisting corporations for pipeline and energy investment into Canada. With Brookfield being the largest so called green investor with a PM that gets proceeds from his time working there, with their majority coming up it seems primed.

So why shouldn’t Canadians buy heavy into Brookfield, here they are talking about the energy projects they block and then handpick who gets access.

https://m.youtube.com/watch?v=vOf5phTycv4

  • Sturgist@lemmy.ca
    2·
    7 days ago

    Bribery

    In 2013, a Brazilian prosecutor filed charges against the company’s local division, alleging the company paid bribes to local officials, which is also a violation of U.S. federal criminal law. The bribes were allegedly used to pave the way for Brookfield to build a shopping center in São Paulo. The U.S. Securities and Exchange Commission also opened a formal investigation into the company about the bribery charges. The company denied the charges. The U.S. Department of Justice also opened a criminal investigation into the company regarding these allegations, and did not end up making any arrests.[63][64] According to the Stanford Law School Foreign Corrupt Practices Act Clearinghouse, which studied the case, the investigation and filing of charges was initiated by a whistleblower and anonymous tip. Later it was revealed that the whistleblower was the former CFO of a Brookfield subsidiary. She claims she was fired for refusing to participate in Brookfield’s bribery scheme.[65] The company disclosed the investigations on several 6-K forms between 2013 and 2015.[66]

    Circular cash flows

    A March 2024 article in the Financial Times criticized Brookfield for its complex structure and its circular flows of cash after buying and selling multiple properties to itself at high, pre-pandemic valuations. The conglomerate executed dozens of internal transactions, including a $1.4 billion sale of real estate stakes to its insurance arm, supporting its “distributable earnings” metric tied to its $90 billion market capitalization. Brookfield Property Partners, a subsidiary, reported $2 billion in losses for the first nine months of 2024, yet contributed significantly to these earnings. Critics argued these deals masked losses in its commercial real estate portfolio and lacked transparency. Brookfield replied that they were not deceiving anyone nor hiding anything and that the newspaper mischaracterized its business.[67]

    ¯_(ツ)_/¯ maybe sketchy dealings?

    I wandered in from all…this is not financial advice, nor is it likely to be a realistic answer.