$1.7M lost in fraudulent scheme to help Chinese students: BCSC – Meiyun Zhang pressured 3 people in Metro Vancouver into giving her over $3M, securities commission says
$1.7M lost in fraudulent scheme to help Chinese students: BCSC – Meiyun Zhang pressured 3 people in Metro Vancouver into giving her over $3M, securities commission says
>*A woman defrauded investors of around $1.7 million that she said was intended to support Chinese students and tourists, the British Columbia Securities Commission (BCSC) has found.*
>*Meiyun Zhang told investors she would use their money to support Chinese students and tourists coming to Canada, and in turn generate up to 10 per cent monthly returns without risk, the commission said in a decision Tuesday.*
>*Between 2014 and 2016, the BCSC says Zhang defrauded three investors in Vancouver and Richmond, B.C., pressuring them into giving her more than $3 million.*
>*She told the investors their money would be used for a variety of purposes, including being exchanged for Chinese yuan, helping Chinese students get or renew visas, and helping Chinese students prove to immigration officials that they had enough money to study in Canada.*
>*But instead, the BCSC says, Zhang used the money to pay returns to other investors in Canada and China and pay off a personal loan to a Calgary realtor, as well as shopping, paying utilities and gambling at casinos.*
>*The commission also said she used the money to pay a lawyer to dispute an immigration order that she leave Canada. CBC News has contacted the BCSC, Immigration, Refugees and Citizenship Canada and the Immigration and Refugee Board of Canada for more details about this order and whether the case is ongoing.*
Curly-Canuck on
Promised 10% monthly return without risks.
RefrigeratorOk648 on
>Meiyun Zhang told investors she would use their money to support Chinese students and tourists coming to Canada, and in turn generate up to 10 per cent monthly returns without risk
120% return a year – could not possibly be a scam
Itchy_Training_88 on
Promised 10% monthly returns.
A fool and his money are soon parted.
Kaartinen on
Blows my mind how some folks have never heard of “to good to be true”.
5 Comments
>*A woman defrauded investors of around $1.7 million that she said was intended to support Chinese students and tourists, the British Columbia Securities Commission (BCSC) has found.*
>*Meiyun Zhang told investors she would use their money to support Chinese students and tourists coming to Canada, and in turn generate up to 10 per cent monthly returns without risk, the commission said in a decision Tuesday.*
>*Between 2014 and 2016, the BCSC says Zhang defrauded three investors in Vancouver and Richmond, B.C., pressuring them into giving her more than $3 million.*
>*She told the investors their money would be used for a variety of purposes, including being exchanged for Chinese yuan, helping Chinese students get or renew visas, and helping Chinese students prove to immigration officials that they had enough money to study in Canada.*
>*But instead, the BCSC says, Zhang used the money to pay returns to other investors in Canada and China and pay off a personal loan to a Calgary realtor, as well as shopping, paying utilities and gambling at casinos.*
>*The commission also said she used the money to pay a lawyer to dispute an immigration order that she leave Canada. CBC News has contacted the BCSC, Immigration, Refugees and Citizenship Canada and the Immigration and Refugee Board of Canada for more details about this order and whether the case is ongoing.*
Promised 10% monthly return without risks.
>Meiyun Zhang told investors she would use their money to support Chinese students and tourists coming to Canada, and in turn generate up to 10 per cent monthly returns without risk
120% return a year – could not possibly be a scam
Promised 10% monthly returns.
A fool and his money are soon parted.
Blows my mind how some folks have never heard of “to good to be true”.