April 7, 2021 – A retired home-care worker defrauded out of her life savings after she had $90,000 wired to China through a Coquitlam, B.C., money exchange company has reclaimed her nest egg in a decision handed down by B.C.’s top court.
According to the ruling, handed down by the BC Supreme Court on March 31, Yongqin Pang sought thousands of dollars in damages against the money exchange company, C&Z Holdings Ltd., claiming the owner was “motivated solely by greed” and that the company “turned a blind eye to fraud” when she had her life savings disappear in October 2017.
The case sounds a warning to money exchange companies who may be used to defraud individuals across international borders: even when they remain within the bounds of the law, they could still be on the hook for tens, if not hundreds of thousands of dollars. TriCity News reports. | READ MORE