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Ian Mulgrew: Following real estate money from China — impossible!

A new lengthy B.C. Supreme Court judgment reveals the complicated financial and real-estate legerdemain gatekeepers face trying to regulate ultra-wealthy Chinese investors in Canada. 

Those on both sides in the litigation, who called each other liars, acted as if they cared little about financial transparency or honesty in record-keeping even in deals involving sums that would stagger ordinary Canadians.

As a result, the court concluded it was virtually impossible to “follow the money” to determine who paid what and who truly owned three multi-million homes on Vancouver’s west side.

Full story available here: http://vancouversun.com/opinion/columnists/chinese-legerdemain-taken-for-granted

Million-dollar line of detached houses spreads like wildfire across Metro

Immigration scams, tax evasion and mortgage fraud: Court case reveals Vancouver foreign buyers’ dirty tricks