Article content continued

In three separate B.C. Supreme Court civil cases, immigrant investors who allege they lost money to Oei claim they were instructed to submit their investment money to a legal trust controlled by Peschisolido and his firm. In statements of claim filed in B.C. Supreme Court, the investors allege Peschisolido failed in his duty to ensure the trust money was directed to their promised investments.

None of the allegations in the lawsuits nor the B.S. Securities Commission accusations have been tested in court.

The lawsuits claim Peschisolido, as a lawyer, is responsible because funds meant to be transferred from his firm’s legal trust to recycling plant investments went to Oei’s personal use instead.

“Peschisolido owed a duty to the plaintiff to guard against the trust account being used as the tool of an unscrupulous client and to guard against the trust account being used for a fraudulent purpose,” alleged Chinese citizen Yicheng Jiang, in one case.

And a claim from a plaintiff named Bao Xi Yang alleges: “The scheme of Oei and Lai and acting through Canadian Manu Immigration and Cascade was fraudulent, and would not have succeeded but for the assistance they received from Peschisolido and (Peschisolido’s law firm) … who received and disbursed Mr. Yang’s funds to Canadian Manu Immigration, well knowing that there had been no instruction to do so and that no shares or interest had been issued or conveyed.”

In an interview Wednesday, Peschisolido said that it is common for law firms to be targeted in litigation, and that he could not comment on any of the allegations made in legal filings. Peschisolido said the Security Commission allegations against Oei do not involve him, and he can’t comment. He said that he would not disclose whether he has a relationship with Oei and Lai outside of his firm’s business.