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.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.