The pyramid scheme originated in Florida and had five B.C. residents play an integral role.
A B.C. Securities Commission panel has found three B.C. residents conspired in an international Ponzi scheme that defrauded 137 fellow British Columbians of nearly $1.5 million.
Between 2014 and 2015, Sabrina Ling Huei Wei and James Bernard Law, of Vancouver, and Justin Colin Villarin, of Surrey, solicited B.C. investors, organized events and sold membership units to American companies promising high, no-risk returns for what turned out to be sham gold mine operations in Brazil and Africa.
In reality, noted the commission in a statement Oct. 6, DFRF Enterprises LLC’s only source of money was from investors, some of whom told their anonymized stories to the panel of commissioners.
Investors fleeced, lose family relationships
One investor, a 41-year-old landscaper who lost $60,000, also referred family members, leading to his brother losing $15,000 and uncle losing $10,000, approximately. The panel noted he testified the fraud “had a significant and permanent detrimental effect on his relationships with his family,” including estrangement during the holidays.
A 38-year-old student and immigrant from Jordan was roped into the fraud by having her partner invest, and lose, $15,000. The Vancouver resident described the experience as “financially devastating and emotional torture,” according to the panel’s decision.
A mother of four children from Richmond said…
