The Executive Director of the British Columbia Securities Commission (BCSC) has issued a notice of hearing alleging that Roy Ping Bai, also known as Ping Bai, (Bai) and RBP Consulting (RBP) perpetrated a fraud on investors.
Investment scam of $1.53 million
Bai and RBP received around $1.53 million from nine investors, most of whom were B.C. residents. The respondents promised to invest the funds in the foreign exchange market (Forex) and pay investors interest of 30 per cent to 60 per cent per year. Bai told the investors a series of lies in order to perpetuate the fraud.
Read more at Newswire.
This article is summarized by Canadian Fraud News Inc.
Deborah McCoy – Is an investigative journalist and has over 17 years of investigation experience in both the private and public business sectors. Since joining CFN, Ms. McCoy has become a true advocate for victims of fraud and increasing the public’s awareness in fraud prevention.