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

Spartans clinch first place in Pacific Division with win over UBC

It was ‘a really physical battle in a crosstown rivalry’ coach says

VIDEO: G-Men seek revenge Saturday night in rematch at Langley Events Centre

Portland’s Winterhawks downed the Vancouver Giants 5-3 during a road trip down south.

UPDATE: Abbotsford murder victim was brother of slain gang leader

Mandeep Grewal gunned down Thursday, brother Gavin killed in North Van in 2017

Man who sexually assaulted teen in Abbotsford is declared dangerous offender

Anton Foulds has more than 30 convictions, dating back to 1991

LETTER: Retired firefighter defends union’s election involvement

In rebuttal to another letter writer’s stance on firefighter involvement in municipal politics.

Tommy Chong says cannabis legalization makes him proud to be a Canadian

Legendary marijuana advocate and comedian celebrates cultural milestone at Kelowna event

Prank pizzas delivered to B.C. mayor on election night

The fake orders happened throughout Victoria mayor’s re-election campaign

Chilliwack voters reject anti-SOGI school board candidates

Slate, including Barry Neufeld, had opposed anti-bullying LGBTQ teaching resource

MLA to become Nanaimo’s next mayor, could weaken NDP’s grasp on power

Leonard Krog’s win will trigger a byelection when he gives up his provincial seat

Horvat nets OT winner as Canucks beat Bruins 2-1

Young Vancouver star had spirited scrap earlier in contest

Team Canada gold medal winners for first time in world curling championship

Team Canada earned gold in Kelowna at the 2018 Winn Rentals World Mixed Curling Championship

3 in serious condition after altercation on Granville strip: police

Patrol officers came upon the fight just after 3 a.m. on Granville Street near Helmcken Street

B.C. passenger caught smoking weed in a car issued $230 fine

Saanich police did a field sobriety test on the driver and deemed it safe for him to drive

Pedestrian rushed to Lower Mainland hospital after being hit by car

Friday night crash is latest in rash of collisions involving pedestrians in Surrey

Most Read