Consumer Alert - Businessman Advertising Debt Repayment Plan Charged Under Fair Trading Act
FOR IMMEDIATE RELEASE
EDMONTON, May 23, 2001 – Brent Donovan McConaghy, an Alberta businessman who allegedly preyed on consumers in dire financial circumstances, has been charged by Alberta Government Services with violating the Fair Trading Act.
McConaghy, who operated in Calgary under the name Allied Financial Services and is now operating in Edmonton as Western Financial Services, advertised a debt repayment plan. Consumers in Calgary allege they were misled when they met with McConaghy expecting to obtain a consolidated loan — with no collateral and low monthly payments — to repay their debts. Instead, after paying a $300 fee, they received financial advice that experts describe as worthless.
McConaghy faces 24 charges for misleading consumers, providing a service not benefiting the consumer and providing ambiguous and misleading information to consumers. He is scheduled to appear in Calgary Provincial Court, Criminal Division on June 20, 2001.
Other consumers who have paid for McConaghy’s services are asked to contact Alberta Government Services’ Consumer Information Centre. The toll-free number is 1-877-427-4088.
The Fair Trading Act is the toughest consumer protection legislation in Canada. The Act spells out in plain language the rights and responsibilities of consumers and businesses in the province. Maximum penalties under the Fair Trading Act are fines of $100,000 and/or up to two years in jail.
Consumers interested in learning more about the Fair Trading Act and other consumer-related topics can obtain tip sheets from the Alberta Government Services website (
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Media enquiries may be directed to:
Shannon Larkins - Alberta Government Services - (780) 415-6051
