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According to Jiang’s B.C. Supreme Court claim, investors were told Oei and Lai “had connections with high-level officials in the government of B.C.” and that any person investing $1 million in Oei’s recycling plant project would be granted Canadian permanent resident status.

Jiang told Postmedia that immigration to B.C. was his main goal and that of other investors in Oei’s scheme. According to Jiang, Oei told the Chinese investors that by investing through Peschisolido’s legal trust fund they would get an extra layer of confidence in the immigration-investment scheme due to Peschisolido’s reputation “as an MP and big-name lawyer.”

In total, Jiang’s claim alleges, he wired $3.99 million for himself and six other Chinese citizens to an HSBC Bank of Canada account controlled by Peschisolido’s law firm. Funds from the Chinese investors were then wrongfully transferred from Peschisolido’s legal trust to Oei, the claim alleges.

Jiang, through his lawyer, provided to Postmedia documents showing Jiang’s wire transfers to Peschisolido’s HSBC Canada legal trust account. The documents are signed by Peschisolido.

The legal response by Peschisolido and his firm deny any wrongdoing and states that he was unaware of any fraud or breach of trust. The trust money was advanced to Oei’s company “pursuant to the clear and unequivocal instructions from the plaintiffs.”

Underground banking explained

According to Jiang, Oei said investors needed to pool their funds for the recycling plant project, “like the crowdfunding concept we have in China,” before sending money to Peschisolido’s trust fund.