December 09, 2016

UPDATE: “Something fishy” about China Investment Corporation’s Vancouver connection

Christopher WilsonRebel Commentator

On Wednesday, I broke the story of the ominous involvement of the China Investment Corporation in a local development by Brenhill properties after acquiring the land from the City of Vancouver.

Well, both the City and Ernst and Young, who they hired to consult on the deal, have responded.

In a correction to the original engagement letter, Kevin Brennan, the Senior Vice President at Ernst and Young suggests the reference to the China Investment Corporation was a mistake.

That’s an awfully big mistake for the senior VP of a Big Four accounting firm who charges $625/hr.

And what’s more, the city’s legal team and City council should have reviewed this document. According to NPA Councillor George Affleck, that did not happen.

But there is more to this deal than just the reference and possible involvement of the China Investment Corporation:

Thanks to the hard work of organizations like the South Vancouver Parks society and Glen Chernen, it was brought to my attention that the city signed off in a dramatic 83 per cent reduction in the land value, essentially wiping out $50 million from an original $59 million valuation in January 2015.

I met with Glen Chernen today to hear more about this deal.

WATCH my report to hear what he had to say.

Something fishy is going on at BC Assessment as well.

At each of my visits while investigating this story, despite speaking with multiple employees at multiple offices, I was denied access to public documents.

Between the secrecy of BC Assessment, and the revelation that Burgess, Cawley, Sullivan were working for both sides during the land value reduction, we are left today with more questions than answers.

But this story is far from over…

 

Comments
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commented 2016-12-11 04:18:12 -0500
Ah yes, and now it seems that “somebody” at city hall missed about $1.5 million in a high rise development’s fees, but that “somebody” remains unnamed and has been allowed to quietly retire without penalty… I guess that’s more of Gregor’s equivalent of “sunny ways”?…
commented 2016-12-11 00:54:10 -0500
Wrong. As has ben pointed out numerous times, Chris is against being bought out by the commies. I don’t want any foreign entity buying us out and forcing us to the sidelines in our own country.
commented 2016-12-10 20:24:35 -0500
I am not a leftist. I am just merely pointing out that Chris has a regular habit of bashing the chinese.
commented 2016-12-10 19:21:02 -0500
I wonder how Anonymous would respond if he found out Vancouver was bing sold out the Americans? The howl that was heard around the world, no doubt.
commented 2016-12-10 19:19:49 -0500
ANONYMOUS commented 17 hours ago
I am really getting sick and tired of chris bashing the chinese.

Hey, Anonymous, why don’t you call him a racist? That oughta put him in his place. Whatever happened to a lefties first resort in shutting down an argument?
commented 2016-12-10 15:22:05 -0500
So now…what can we do about it? Hopefully this has legs and will eventually lead to the resignation of that naive green activist Gregor.
commented 2016-12-10 07:41:20 -0500
Perhaps , Vancouver is the same as Montreal. The Politicians get rich and the Mob gets richer.
commented 2016-12-10 07:34:01 -0500
Good job Chris!!
Have you considered taking this to the authorities and pressing them to launch a fraud investigation? I think it would be a feather in TheRebel’s cap if you succeeded in doing so.
commented 2016-12-10 06:47:56 -0500
Excellent investigative reporting Christopher.
I too am getting sick of the tiresome political correctness of the likes of “Anonymous”.
The Left always pull that card don’t they. Fake racism. Anything they disagree with is labelled as “racism”
We REALLY need a Trump like leader for Canada to stop the Chinese foreign takeover of our country.
commented 2016-12-10 03:46:55 -0500
Anonymous wrote: “I am really getting sick and tired of chris bashing the chinese.”
Hmm… I can not resist that this accusation is another instance of, baseless as it is, playing the racist card. It is similar to the reaction by the Mayor which I described in my comment just below.
commented 2016-12-10 03:18:18 -0500
Congratutation and thank you, Christopher, for honest reporting – a rare occurence in the Canadian media these days.
Here is something you might think about. I remember a year or less ago, someone I believe connected to SFU attempted to research how many new purchases of luxury housing in Vancouver is being made by the Chinese. The Mayor objected saying that doing such a research would amount to racism. Of course he knew that he was just playing the racist card – this would not be “racism” at all. After reading about your funding, I can not stop thinking that the Mayor’s reaction likely showed his fear that the research could have revealed what we now know, thanks to you, for certain – the involvement of China in the Vancouver housing market. Your are chasing the right animal, Christopher, just keep on doing the good job…
commented 2016-12-10 02:47:22 -0500
Anon he is bashing the communist government , not the people.
commented 2016-12-10 02:15:51 -0500
I am really getting sick and tired of chris bashing the chinese.
commented 2016-12-10 01:56:36 -0500
Good job of following the money. it is issues like this that are building The Rebel’s profile in Canada. People are are learning the that lugenpresse is on the pockets of the government. When they ask questions and find no satisfying answers they will hear of you or seek you out. That is why the LP is afraid of you and mocks and disparages you.
“Woe to you when all men speak well of you”.
commented 2016-12-09 23:53:56 -0500
Trudeau’s friend Gregor must have been aware of a downgrade that high. Usually just follow who benefited the most.
Thanks Chris for a Vancouver Watergate story; keep on it.
commented 2016-12-09 22:37:16 -0500
$625 /HR. That’s more than multi million dollar investment private sector entrepreneurs charge for actual production
commented 2016-12-09 20:44:01 -0500
Fantastic Digging Christopher – investigative reporting at its best. Stay on it dude, it appears you have just scratched the surface of an insider profiteering rat’s nest.

Colluding to defraud the sale of public property yeehaww – I’m getting beer and popcorn to watch this pork barreling unfold
commented 2016-12-09 20:19:53 -0500
Chrystia Freeland is our trade minister. Let’s all complain to her Chrystia.Freeland@parl.gc.ca.
commented 2016-12-09 19:54:24 -0500
$50 million, that’s way to much to sweep under the rug.
commented 2016-12-09 19:40:29 -0500
WILSON , there’s a whole bunch of people watching now , including a bunch from Vancouver and area that haven’t watched before

Very interesting
Be careful , watch your back !!
commented 2016-12-09 19:39:31 -0500
Christopher, you are doing some really good journalism! The Rebel is lucky to have you.
commented 2016-12-09 19:17:06 -0500
Something’s fishy alright!