BC Green leader calls for seizing homes of foreign buyers involved in immigration fraud, tax evasion, money laundering

By ThinkPol Staff

British Columbia’s Green Party Leader has called for seizing the homes of a group of foreign buyers whose immigration fraud, tax evasion, money laundering and a host of other illegal activities came to light in a recent BC Supreme Court decision.

“The properties involved should be seized,” Andrew Weaver, who’s propping up the minority NDP government in the province, tweeted. “Our lax real estate rules are making us look foolish.”

The MLA for Oak Bay-Gordon Head was referring to Fu v. Zhu[1]Fu v Zhu, 2018 BCSC 9 (CanLII), retrieved on 2018-01-08, where the Honourable Madam Justice Griffin of the B.C. Supreme Court rendered a 552-page judgement after unravelling reams of “inconsistent” testimonies from parties with “serious credibility problems”.

The third plaintiff Mr. Xiao Feng Fu (referred to as P3 in the judgement) hatched a scheme to deceive Canada’s immigration department with the help of defendendant Ms. Cui Yun Zhu (D1), realtor Mr. Gu and his wife Jie Chen, according to the judge’s ruling.

“Indeed, P3 was sophisticated in lying, including scheming to deceive Canadian immigration authorities in 2012 so that he could maintain permanent residency status without spending the necessary days residing in Canada.” Justice Griffin wrote. “This scheme involved him pretending to rent accommodation in Vancouver by writing cheques for rent to D1; pretending to be employed by Jie Chen, the wife of the family’s realtor, Mr. Gu, who pretended to pay him employment income (all of which was paid back behind the scenes by payment from P2 to Mr. Gu); having someone use his credit card in Canada in his absence; and then in 2013 falsely reporting to police in China that he had lost his permanent residency card which would have noted when he truly was in Canada, so that he could falsely claim he was in Canada during the period he pretended to pay rent and to receive employment income.”

The judgment also reveals that the buyers declared questionable worldwide income in tax returns.

“P1 had his own credibility problems, including asserting to Canadian authorities on his Canadian income tax return a miniscule worldwide income of $97.11,” Justice Griffin wrote. “This was an incredible assertion given the fact he owns one of the top ten textile manufacturing and distribution companies based in one of the biggest textile manufacturing centres of China.”

Weaver has long been a proponent of banning on foreign buyers in Metro Vancouver’s real estate market.

“There’s a lot of foreign capital out there looking for a safe place to park money in these tumultuous times,” the scientist-turned-politician told the BC Legislature last fall. “Foreign investors have turned to our real estate sector, thereby turning our houses and land into commodities for investing in speculation, not living in or working on. Our residents are paying a social cost, as they can’t afford to live in the places that they work.”

[Photo Credit: Andrew Weaver]

References   [ + ]

1. Fu v Zhu, 2018 BCSC 9 (CanLII), retrieved on 2018-01-08

5 Responses to BC Green leader calls for seizing homes of foreign buyers involved in immigration fraud, tax evasion, money laundering

  1. nonconfidencevote says:

    Well.
    When the stories of the money laundering, ever higher, ponzi aka known as BC real estate hits main stream media on a world wide venue…..the dithering, fence sitting, hand wringing politicians will be forced to do something to look like their still in charge.
    This weeks The Economist magazine..world wide circulation almost 1,000,000.( every week).
    Page 47. Article “Snow Washing” decsribes the particularly Canadian debacle of our foriegn owned, money laundered real estate.
    How?
    Form a canadian company. The Lawyers setting it all up dont have to disclose who their clients are( foreign or domestic)because of Lawyer /Client privledge.
    There are 2.5 MILLION leagal entities( companies) in Canada and only a tiny fraction are checked.
    As one lawyer bragged to an undercover cop, “Its 20 times easier to launder money in Canada than the US and there are almost no penalties.”

    It seems while our politicians were either asleep at the wheel or deliberately ignoring what was glaringly obvious to everyone else….”investors” from a communist country figured it out….

    2018….The year politicians grew spines and drove a stake in the heart of the real estate ponzi once and for all?

    I can dream cant I?

  2. nonconfidencevote says:

    And on another note.
    Are housing sales tanking in Toronto?
    Previous sales stats may be an indication of the impending bloodbath known as Real Estate.

    Previous sales in TO have been dropping steadily since last April(1200 sold) to Dec (740 sold) indicating a slow downward trend.
    The first 2 weeks of Jan? 77 yep 77 houses sold.
    And while the first 2 weeks may not be the bell weather marker……
    It could be fugly in the months to come.
    Realtors working at Tim’s for $15/hr to make the lease payments on the Audi?
    Thats not a lot a donuts.
    🙂

  3. Sandy Ang says:

    Only fair since these kinds of transactions are stealing our children’s future dreams of being able to afford to buy a house in the Lower Mainland! Criminals should not be able to profit in our cities. However there also appears to be some individuals in real estate that have been complicate and complete lack of oversight from the previous Liberal Government! An investigation into possible corruption may be indicated.

  4. David says:

    I chuckled when the article described Andrew Weaver as a “scientist-turned-politician” as if he is no longer a world class scientist. He is both, and if his scientific credentials are referenced at all, it would be better to note him as a scientist-politician. Putting that aside, I’ve been in law enforcement for 30 years and am disappointed at how rarely we take action to stem such large scale collusion of criminals in these types of enterprises. Weaver is right. These criminals assets should be seized as both punishment and a deterrent to stop the havoc they are causing in Canada.

    • John says:

      Bang on. Our “laws” should see them punished as such, but more importantly…show these schemers just how much they stand to lose when caught. Otherwise, it will just become a very vicious circle…with Canadians alwa
      ys losing.

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