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January 16, 2018 | BC Case Reveals 7 Scams That Have Pumped Up Canada’s Real Estate Bubble

Danielle Park

Portfolio Manager and President of Venable Park Investment Counsel (www.venablepark.com) Ms Park is a financial analyst, attorney, finance author and regular guest on North American media. She is also the author of the best-selling myth-busting book "Juggling Dynamite: An insider's wisdom on money management, markets and wealth that lasts," and a popular daily financial blog: www.jugglingdynamite.com

A B.C. Supreme Court case that pitted two rich families from China against each other provides grim revelations about the kind of migration, tax, and real-estate scams regularly occurring in Metro Vancouver and beyond. “This case provides unusually candid insight into what those who would abuse our immigration and real-estate systems really think in their own words about their true motives for seeking access to Canada and our real estate,” said Vancouver immigration lawyer Sam Hyman.

See:  Explosive BC case details 7 migration scams.  Here is the short list:

1. Not declaring full worldwide income to Canadian tax officials

2. Pretending to spend time in Canada to meet residency requirements

3. Hiding real real-estate ownership

4. Lack of regulation of real-estate agents

5. Illicitly laundering money out of China

6. Misusing provincial migration programs

7. Exploiting Canadian courts, with costly trials

See this link to a video report.

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January 16th, 2018

Posted In: Juggling Dynamite

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