The case of the immigration consultant accused of bilking millions of dollars from investors through a compost factory scheme will be heard at the B.C. Securities Commission over three weeks beginning April 10.
The dates were set at a brief appearance by lawyers on Nov. 1. A case management conference was also scheduled for Jan. 17.
BCSC executive director Peter Brady issued a Sept. 26 notice alleging Paul Oei and his companies peddled shares in Cascade Renewable Carbon Corp. (CRC), Cascade Renewable Organic Fertilizer Corp. (CROF), and Organic Eco-Centre Corp.
BCSC said Oei allegedly raised $13.3 million from 64 investors, but diverted $6.9 million of the funds to his own accounts.
Lawyer Maria Pivnenko, representing Brady, told the scheduling hearing that Mandarin and Cantonese translation would be required for several of the investor witnesses expected to testify.
Oei, his wife Loretta Lai and lawyer Joe Peschisolido, now a Richmond Liberal MP, were sued in March 2014 by Cascade investors Wei Chen and Junping Zhen for misrepresentation, fraud, breach of trust and breach of fiduciary duty.
Chen and Zhen claimed that Oei told them their investment would be profitable without risk because it was supported by the B.C. government, which he claimed would pay CROF $50 to $70 per tonne. None of the allegations has been proven in court.
