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

Port Alice gets two RCMP officers stationed in the village

“The second Port Alice RCMP position has been filled”

B.C. storm totals $37M in insured damages

The December storm wreaked havoc on B.C.’s south coast

New look and feel on the horizon for Gate House Theatre in Port McNeill

“We are hoping between now and then to do another fundraising campaign for acoustics”

North Island Bantam Eagles capture Tier Three banner with win over Powell River Kings

The Eagles next game is Jan. 19 against the Juan De Fuca Grizzlies at 4:00 p.m. in Port McNeill.

Mainroad meets with Regional District of Mount Waddington

“It was really nice to have Mainroad there to give a presentation to the RD”

B.C. opioid crisis to get same world-renowned treatment approach as HIV/AIDS

A program that focuses on treatment as prevention will roll out Jan. 17

Overworked and understaffed: More than 300 vacancies in Vancouver Island nursing

Tentative deal with province includes ‘working short premium’ to encourage hiring

Olympian snowboarder Max Parrot diagnosed with Hodgkin’s lymphoma

Each year in Canada, approximately 900 people are diagnosed with Hodgkin’s lymphoma

‘Prince of Pot’ Marc Emery accused of sexual assault, harassment

Emery denied the allegations, but a Toronto woman says she is not the only one speaking out

Vancouver Island photographer makes National Geographic’s 2018 elite

Rare double honour for Marston from the 36 best Your Shots out of nearly 19,000 photos

Ex-Liberal candidate in Burnaby, B.C., says volunteer wrote controversial post

Karen Wang dropped out following online post singling out NDP Leader Jagmeet Singh’s ethnicity

Asteroids are smacking Earth twice as often as before

The team counted 29 craters that were no older than 290 million years

Canada’s arrest of Huawei exec an act of ‘backstabbing,’ Chinese ambassador says

China has called Canada’s arrest of Huawei chief financial officer Meng Wanzhou ‘politically motivated’

RCMP’s use of force in arrest of Island man not excessive, judge rules

Campbell River man high on cocaine led high speed chase through city’s downtown

Most Read