Paul Se Hui Oei, left, at a pre-election dinner hosted for Liberal Leader Justin Trudeau, centre, by the Richmond Chamber of Commerce in 2015. (Richmond Chamber of Commerce/Facebook)

Man with links to Canadian politicians ordered to pay $8M in fraud case

Immigration consultant Paul Se Hui Oei had collected $5 million in fraudulent investments

A B.C. man with reported links to prominent Canadian politicians has been ordered to pay more than $8 million after lying to investors about what their money would be used for.

On Thursday, the BC Securities Commission said it has ordered “permanent market prohibitions” against immigration consultant Paul Se Hui Oei and the three companies he controlled, Canadian Manu Immigration & Financial Services Inc., 0863220 B.C. Ltd. and 0905701 B.C. Ltd.

Starting in 2009, Oei fraudulently solicited a total of $5 million from investors for two startup companies, Cascade Renewable Carbon Corp. and Cascade Renewable Organic Fertilizer Corp., through an “indirect investment structure,” the commission said.

Oei and his companies’ representatives said the fraud was due to “poor record-keeping.”

That reasoning was not accepted by the commission, which in a report said the respondents had the “requisite mental intent for fraud” and knowingly misappropriated the funds.

The commission said it could not fully capture the money lost by investors, as one of the fake startups had gone bankrupt, while the other had ceased to exist.

The New York Times reported last year Chinese citizens were led to believe their investment with Oei would help them secure permanent residency in Canada.

Instead, the publication said, the money was spent on Oei’s own affairs, including beauty pageants, luxury cars and donations to the BC Liberals.

According to Elections BC documents, Oei contributed more than $55,000 to the BC Liberals between 2011 and 2015.

Elections Canada records show Oei has donated nearly $4,500 to the federal Liberals since 2014, and his now-defunct company, Organic Eco-Centre Corp., had hosted a $60- to 90-a-plate pre-election dinner in 2015 featuring Liberal Leader Justin Trudeau at the Richmond Chamber of Commerce.


@katslepian

katya.slepian@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

WATCH: Group of 150 gather for Fraser Valley Marches for Women in Chilliwack

Waving signs, women make their way down Young Road as part of second annual march in Chilliwack

VIDEO: Harrison sailor looking for competitors to race model boats

Bernhard Van Velze is hoping to create a club for model sailboats at Harrison Lake

Chilliwack prolific offender wanted yet again

B.C.-wide warrant issued for David Allen Geoghegan

One man, two women charged with stolen pickup downtown Chilliwack

None of the three have criminal history in B.C.

COLUMN: Should elected officials block constituents and reporters on social media?

Ottawa mayor was sued for doing that but a Chilliwack school trustee didn’t get that message

Keep focus on helping Canadians at home, Trudeau tells MPs at start of meeting

Trudeau said the Liberals will offer Canadians hope amid issue like climate change and global tensions

Crash closes Coquihalla southbound lane south of Merritt

Accident occurred approximately 26 kilometres south of Merritt

Skaters stranded in Saint John, NB, amid storm on last day of championships

More than half of the flights out of the city’s airport were cancelled due to the weather

Call for tighter bail rules after Saudi sex-crime suspect vanishes

Mohammed Zuraibi Alzoabi was facing charges related to alleged sexual assault, criminal harassment, assault and forcible confinement of a woman

12 poisoned eagles found on Vancouver Island

Improper disposal of euthanized animal suspected

Olympic softball qualifier to be held in B.C.

Tournament is to be held Aug. 25 to Sept. 1

B.C. resident creates global sport training program

The 20 hour course teaches the science and application of interval training at the university level

B.C. VIEWS: Fact-checking the NDP’s speculation tax on empty homes

Negative-option billing is still legal for governments

Most Read