Paul Se Hui Oei, a director and president of multiple companies in British Columbia, defrauded investors of millions of dollars and used the money for personal expenses, according to allegations by the British Columbia Securities Commission. Oei raised $13.3 million for Cascade, an entity consisting of two companies: Cascade Renewable Carbon Corp. and Cascade Renewable Organic Fertilizer Corp., through 64 separate investments. Investors were told the proceeds, which were raised between July 2009 and November 2012, were to go to Cascade’s startup costs.
EMMA CRAWFORD HAMPEL – BUSINESS VANCOUVER – SEPTEMBER 27, 2016.
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