🇨🇦 Vancouver developer hides millions, gets 40 days — but who bought all that real estate?

Helen Chan Sun rode the Cambie corridor gold rush to a $94 million fortune by 2018, fueled by taxpayer-subsidized megaprojects like the $6.5-billion Oakridge redevelopment. Now she's in jail for contempt after stonewalling creditors about her finances — luxury cars, spa treatments, shell companies holding hundreds of millions in Metro real estate. Her net worth mysteriously collapsed to $21 million by 2023 as the condo market tanked. Convenient timing for someone facing bankruptcy and receivership.

This is the immigration-driven speculative bubble in microcosm: foreign capital, shell corps, artificially inflated demand, and a developer class that got rich flipping land beneath the feet of locked-out Canadians. When the music stopped, she hid the money. The courts can jail her for 40 days. They can't jail the policy disaster that built her empire or the politicians who called it prosperity.

🍁 Maple Chronicles