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

Investigation into Naramata fire chief could wrap up before year end

An outside company has been investigating Naramata fire chief since Oct. 22 when he was suspended

Penticton cops investigating break in at Coyote Cruises

Thieves entered the closed building through the roof

Utility Rate Review ready to get back on track

Review of Penticton’s utility charges interrupted by floods and fires

South Okanagan ski hills hoping Mother Nature will bring snow

Apex Mountain Resort opening some runs, Baldy still uncertain

Penticton extends recycling for holidays

Penticton holiday garbage and recycling collection

Man caught on camera allegedly trying to defraud ICBC

Auto-insurer warns B.C. drivers to record info after crashes

Warning issued as forecast calls for 20-foot waves in Tofino

Dangerous waves, strong currents and upper-shoreline flooding expected for Tofino-Ucluelet area

An 800-pound pig named Theodore needs a forever home, B.C. society says

‘Theodore is not destined to be somebody’s bacon’

Single-bridge option chosen to replace Highway 1 bridge in Sicamous

Five-lane span selected over plan with second bridge at Sicamous’ Main Street

UPDATE: Highway 1 closed east of Revelstoke, expected to open at 7:30 p.m.

Highway 1 is closed east of Revelstoke near the west entrance to… Continue reading

Submissions sought for UBC Okanagan’s annual fiction competition

University’s annual short-story contest enters its 21st year

Teenager Alphonso Davies wins Canadian Men’s Soccer Player for the Year Award

Derek Cornelius and Chilliwack native, Jordyn Huitema were named Canadian Youth International Players of the Year

B.C. teen MMA fighter shows heart

Young Unity MMA competitors bring home Ws

2,000 Canadians died of an overdose in first 6 months of the year

New data from the Public Health Agency of Canada shows the crisis is not subsiding

Most Read