Court approves $2.1M reprieve for victims defrauded by B.C. sisters

A total of $2.1 million will soon be distributed to 92 investors defrauded by Siu Kon "Bonnie" Soo from Richmond and Siu Mui "Debbie" Wong from Surrey.

The BCSC invited victims to submit claims last year after MNP sold properties belonging to the sisters and their companies. The receiver will be discharged from its duties once the funds have been distributed, according to the BCSC. MNP noted in the report that, based on the BCSC's findings of liability and court documents for seven proceedings involving the case, investors lost about $33 million collectively.

Their fraudulent conduct included misappropriating $1.2 million from investors, giving the property units to their husbands and adult children, inflating the purchase price of a property and lying to investors, as well as using mortgage proceeds for purposes other than developing the property.

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