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

Mackenzie Interchange pump failure sends contaminated water into Colquitz River

Sediment release in salmon-bearing river a serious threat to aquatic life, says local activist

WATCH: Booze, weed both have fatal consequences

Video shows how easily impairment affects driving

Catch last call and a cheap ride home: Late night buses coming to Victoria in 2019

New plan will extend service on weekends with last trip leaving downtown at 3 a.m.

1,000 free Christmas meals served at Our Place

Community donations fuel support for those in need

Uvic to launch app to link drug users with Naloxone kits

Researchers have spent the last year developing the Nal-Pal app

Santa visits some of Victoria General Hospital’s littlest patients

Santa flew in to the hospital via air ambulance helicopter

READER POLL: Do you have turkey or ham for Christmas dinner?

What are you having for Christmas dinner? Canadians gobbled up 3.3 million… Continue reading

Lightning top Canucks 5-2 in feisty battle

NHL’s No. 1 team too much for Vancouver

Greater Victoria Crime Stoppers wanted list for the week of Dec. 18, 2018

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Bear cubs try to take Vancouver Island woman’s Christmas cookies

Incident happened in the early-morning hours today, Dec. 18, in Nanaimo

FortisBC says you can return to normal gas use following pipeline fire

Utility says increased pipeline capacity, warmer weather have allowed supply to reach normal levels

CSIS collected info on peaceful groups, but only in pursuit of threats: watchdog

Security Intelligence Review Committee says fears unjustified after reviewing evidence, testimony

Canada ranks 16th on annual gender gap list

This is the second year Canada has placed 16th in the World Economic Forum’s list

VIDEO: Tornado rips through city west of Seattle

Reports indicate five to seven homes damaged in Port Orchard, Wash.

Most Read