A Metro Vancouver man who purported to operate a “rent-to-own” real estate company that helped people purchase homes actually committed an “egregious form of fraud,” the B.C. Securities Commission has found. Rui “Roy” Figueiredo was the sole director of Pare Realty, a Surrey company that offered to provide short-term loans to renters to help them use the funds for down payments on home purchases, according to the BCSC. But in reality, the commission wrote in its decision, “there was no real business.”
Figueiredo and his corporation are ordered to pay penalties to the commission totalling $187,875. He is also permanently banned from becoming or acting as a director of any issuer or registrant.
Read the full article at The Province.
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.