The provincial investment regulator ordered Paul Oei, a former immigration consultant, to pay the money almost five years ago after finding he had cheated millions of investors. When he did not pay, the executive director of the commission asked the Insurance Corporation of BC to prevent him from renewing his driver’s license under a new law. On Friday, Oei lost his appeal to a jury to block the move and told CBC News he was innocent of the charges, could not afford to pay the fine and needed a vehicle to drive family members. In case of emergency. “Does it really help me pay more?” Oei told CBC News in a telephone interview. “What is the point of revoking my driver’s license?” “I did not commit any fraud. That is why they say I have no regrets; I am still trying to convince them of that.” BCSC did not see the accusations against him that way, deciding in 2017 that Oei committed fraud and embezzlement of investors’ money. In March, BC became the first province to revoke driving privileges for unpaid securities law. The commission ruled that Oei “committed the most serious misconduct” under the BC Securities Act, in accordance with the June 10 ruling. “The Applicant fraudulently misappropriated significant sums of money,” wrote the decision of the participants. “The applicant has neither paid part of the very significant amounts that remain outstanding nor has he made a proposal for a payment plan. “It simply came to our notice then [Oei] continues to show no remorse or responsibility for its role in fraud and embezzlement. “ According to Friday’s decision, Oei told delegates he could not have found a better job without being able to drive. “Make a payment plan based on my income,” he told CBC News. “Come on, you forbade me for a lifetime everything I can do in the financial industry.”
