Under a new B.C. law, a Richmond businessman is losing his right to drive until he pays $7.6 million in fines, as reported by CBC News.
In 2017, Paul Orei, a former immigration consultant, was charged with fraud and misappropriation of investor money. It was also ruled as the “most serious conduct” under the B.C. Securities Act.
“Significant sums of money were fraudulently misappropriated by the applicant,” the decision read. “The applicant has neither paid any part of the very significant amounts that remain outstanding nor made any proposal for a payment plan.”
When Orei refused to pay $7.6 million in fines for the past five years, a B.C. Securities Commission (BCSC) executive director asked the Insurance Corporation of B.C. to prevent Orei from renewing his license under a new law.
Orei appealed to the commission panel to block that move but lost on Friday. The province was the first to allow the revoking of driving privileges for unpaid law sanctions.
In a phone interview, Orei told CBC News he was innocent of the charges. He said he could not afford to pay the penalty and would need to use his vehicle in case of family emergencies.
“Does that really help me to pay more? What’s the point of taking away my driver’s licence?” Orei asked CBC News. “I did not commit any fraud. That’s why they say I do not have remorse; I am still trying to convince them that.”
Orei also argued he would not be able to get a better job to pay the fines without being able to drive.
“Come up with a payment plan based on my income,” he told CBC News. “Come on, you banned me for a lifetime from what I can be doing in the financial industry.”
