A trio of Metro Vancouver homeowners all say they were tricked into taking out mortgages on their properties by a man posing as a mortgage broker, who then pocketed the money through a complicated series of numbered companies and fake builders’ liens.
Ashley Kong, Chenming Li and Allen Li (no relation) all testified last week during a disciplinary hearing held by the B.C. Financial Services Authority (BCFSA). The professional regulator has alleged that Hon Kit Chung, also known as Larry Chung or Joe Chung, falsely represented himself as a mortgage broker and arranged loans for his own financial gain from January 2020 to August 2022.