Dear Valued Members,
BBX International (BBXI) has recently been subjected to the inaccurate information spread against it by the previous franchisee Cameron McKean and/or Dennis Smith. This updated memo sets out to clearly and unequivocally refute the statements/allusions that have been made by McKean and/or Smith.
Security Breach of Data
BBXI commenced an investigation after noticing unusual cyber activity in Thailand before and after Cameron McKean had breached his Master Franchise Agreement with BBXI. Cameron McKean had sent numerous notices via email to BBXI’s members in an attempt to solicit them to Club Barter, a competitor business that Cameron McKean had set-up in February 2017.
Upon investigation, BBXI discovered a cyber security incident involving unauthorized access to our members’ information on our server. The data which was subject to unauthorized access by manual download, varies but includes some combination of: member’s names, account numbers, contact information, and limited trade credit information. The manually downloaded information did not contain any banking or credit card information, or live financial information.
BBXI took immediate action by shutting down access to its server and notified our legal counsel and appropriate law enforcement about the said breach. Access to the server is now strictly monitored. To ensure a multi-layered security approach, we have ensured all pins have been updated.
BBXI has reported this data breach to all the required government departments and continue to work with them on updates.
Claims of BBXI Fiscal Difficulties and Poor Management Succession
The assertions about BBXI’s poor financial standing is completely false and strongly refuted. Further assertions of BBXI’s poor management succession are completely untrue and unfounded.
Michael Touma had in place registered succession plans providing current directors the authority to operate and manage the business. BBXI is well managed, characterized by the maintenance of solid financial reserves over a sustained period of time, ample liquidity, strong management practices, and constant adherence to prudent fiscal policies.
Unsolicited Emails to Members
Due to our enforced regulatory and legal action to be taken against McKean, he has decided to send out unsolicited erroneous emails to our community and has instructed his Thai staff to follow up those emails with spam calls. He has further deceived members by registering Clubbarter Exchange under his partner’s name instead of his Thai staff as claimed, to avoid detection.
We have swiftly appointed solicitors to take legal action against Cameron McKean in the relevant jurisdictions where our franchise agreement is enforceable. We have made complaints to the relevant authorities as well. As he is an Australian citizen on a working visa in Thailand, we have provided all necessary evidence to the relevant Australian authorities to allow them to commence investigations against McKean.
We again urge you to disregard any information from these parties and ask that you mark as spam any communication received from the above named parties and report any form of harassment to email@example.com.
BBXI continues to greatly appreciate the unwavering support we get from members. We will be introducing exciting new initiatives to charter the new way forward at BBX, and we look forward to sharing that with you in greater detail in the coming months. Should you have any further questions or concerns at this time, please feel free to contact us.