Commission says a panel ordered Meiyun Zhang to pay an administrative penalty of $2.5-million and more than $790,000 in the traceable cash she’s alleged to have obtained through fraud
A woman who used “high-pressure tactics and predatory conduct” on Chinese students has been fined $3.3 million by the BC Securities Commission.
The commission says that between 2014 and 2016, Zhang raised money using a variety of pitches “calibrated to each victim,” including exchanging foreign currency, helping students immigrate to Canada or by providing loans to Chinese students to obtain Canadian visas. The panel ruled that “Zhang showed a complete disregard for compliance with applicable laws and for markets that are honest and fair,” when it ordered her to pay the penalty.
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