BC's Real Estate Brokers' Ripoff Reimbursement Fund Coughs Up $66K+ To Homebuyer Who Was Fleeced Out Of $100K By Sales Agent & Co-Conspirator; Scammer's Seized Bank Accounts Cover Balance

In Vancouver, British, Columbia, The Province reports:

• A single mother has been paid nearly $70,000 in compensation by the Real Estate Council of B.C.(1) after she was allegedly defrauded of $100,000 by suspended Vancouver realtor Dacheng (Damon) Wan and convicted fraudster Ayaz Dhanani.
  
  Details of the case — dubbed “extremely serious” in a cease-and-desist order from B.C.’s registrar of mortgage brokers — involve alleged con artists, bank drafts, currency exchanges and a risky home investment.
  
  It is the second alleged transaction discovered by The Province involving Dhanani and Vancouver realtors. And the registrar warned in 2014: “It is reasonable to assume that Mr. Dhanani may continue to deceive others in a similar way.”
  
  Wan — who was indicted in September 2015 along with Dhanani on charges of fraud over $5,000 — had his licence suspended in April 2014 after an investigation by B.C.’s Financial Institutions Commission (FICOM) was submitted to the B.C. Real Estate Council.
  
  Compensation hearing documents say that in October 2014 the council paid Wan’s client $66,570 for losses caused by Wan. She had already recovered $33,429 from the provincial Crown through bank seizures related to Wan’s accounts. [more]

For more, see Single Vancouver mom gets $70,000 compensation from Real Estate Council of B.C. after alleged fraud (Woman says she lost $100,000 in alleged real estate fraud).

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(1) The Real Estate Special Compensation Fund of the Real Estate Council of British Columbia provides protection if a member of the public has suffered a compensable loss through the provision of real estate services in circumstances where money entrusted to a real estate licensee or an unlicensed individual related to the brokerage has been misappropriated or wrongfully converted, intentionally not paid over or accounted for, or obtained by the fraud of that licensee or individual.