Background: Yicheng Jiang sued Paul Oei, Loretta Lai, and associated companies for misrepresentation, negligence, and fraud related to an investment in Cascade Renewable Carbon Corp (CRC) for immigration and financial benefits.
Facts: Jiang, seeking Canadian immigration, was introduced to CRC, promising to use patented technology for organic waste recycling. Jiang and other investors transferred approximately $3.7 million, expecting shares in CRC and immigration benefits under the BC Provincial Nominee Program (BC PNP).
Issues/Main Discussion: Key issues included the veracity of representations made by Oei and Lai regarding the use of investor funds, CRC's operations, and the immigration benefits under the BC PNP.
Ruling: The court found Oei and Lai liable for fraudulent misrepresentation, concluding that they misled investors about CRC's operations, the use of funds, and the association with Desjardins, significantly impacting the investors' decisions.
Amount Awarded: Specific details on the amount awarded were not provided in the summary, focusing on the fraudulent activities and misrepresentations that led to investor losses.
